Correlation Between Jay Mart and Central Retail
Specify exactly 2 symbols:
By analyzing existing cross correlation between Jay Mart Public and Central Retail, you can compare the effects of market volatilities on Jay Mart and Central Retail and check how they will diversify away market risk if combined in the same portfolio for a given time horizon. You can also utilize pair trading strategies of matching a long position in Jay Mart with a short position of Central Retail. Check out your portfolio center. Please also check ongoing floating volatility patterns of Jay Mart and Central Retail.
Diversification Opportunities for Jay Mart and Central Retail
0.04 | Correlation Coefficient |
Significant diversification
The 3 months correlation between Jay and Central is 0.04. Overlapping area represents the amount of risk that can be diversified away by holding Jay Mart Public and Central Retail in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Central Retail and Jay Mart is a relative statistical measure of the degree to which these equity instruments tend to move together. The correlation coefficient measures the extent to which returns on Jay Mart Public are associated (or correlated) with Central Retail. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Central Retail has no effect on the direction of Jay Mart i.e., Jay Mart and Central Retail go up and down completely randomly.
Pair Corralation between Jay Mart and Central Retail
Assuming the 90 days trading horizon Jay Mart Public is expected to generate 79.71 times more return on investment than Central Retail. However, Jay Mart is 79.71 times more volatile than Central Retail. It trades about 0.17 of its potential returns per unit of risk. Central Retail is currently generating about 0.1 per unit of risk. If you would invest 0.00 in Jay Mart Public on September 3, 2024 and sell it today you would earn a total of 1,410 from holding Jay Mart Public or generate 9.223372036854776E16% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Jay Mart Public vs. Central Retail
Performance |
| Timeline |
| Jay Mart Public |
| Central Retail |
Jay Mart and Central Retail Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Jay Mart and Central Retail
The main advantage of trading using opposite Jay Mart and Central Retail positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Jay Mart position performs unexpectedly, Central Retail can make up some of the losses. Pair trading also minimizes risk from directional movements in the market. For example, if an entire industry or sector drops because of unexpected headlines, the short position in Central Retail will offset losses from the drop in Central Retail's long position.| Jay Mart vs. Jay Mart Public | Jay Mart vs. Krungthai Card Public | Jay Mart vs. Kasikornbank Public | Jay Mart vs. KERRY EXPRESS |
| Central Retail vs. Premier Marketing Public | Central Retail vs. Porn Prom Metal | Central Retail vs. Mena Transport Public | Central Retail vs. Thai Life Insurance |
Check out your portfolio center.Note that this page's information should be used as a complementary analysis to find the right mix of equity instruments to add to your existing portfolios or create a brand new portfolio. You can also try the CEOs Directory module to screen CEOs from public companies around the world.
Other Complementary Tools
| Portfolio Manager State of the art Portfolio Manager to monitor and improve performance of your invested capital | |
| Stocks Directory Find actively traded stocks across global markets | |
| Pattern Recognition Use different Pattern Recognition models to time the market across multiple global exchanges | |
| Portfolio Holdings Check your current holdings and cash postion to detemine if your portfolio needs rebalancing | |
| Theme Ratings Determine theme ratings based on digital equity recommendations. Macroaxis theme ratings are based on combination of fundamental analysis and risk-adjusted market performance |