Correlation Between Jay Mart and Dow Jones
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By analyzing existing cross correlation between Jay Mart Public and Dow Jones Industrial, you can compare the effects of market volatilities on Jay Mart and Dow Jones 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 Dow Jones. Check out your portfolio center. Please also check ongoing floating volatility patterns of Jay Mart and Dow Jones.
Diversification Opportunities for Jay Mart and Dow Jones
Significant diversification
The 3 months correlation between Jay and Dow is 0.03. Overlapping area represents the amount of risk that can be diversified away by holding Jay Mart Public and Dow Jones Industrial in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Dow Jones Industrial 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 Dow Jones. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Dow Jones Industrial has no effect on the direction of Jay Mart i.e., Jay Mart and Dow Jones go up and down completely randomly.
Pair Corralation between Jay Mart and Dow Jones
Assuming the 90 days trading horizon Jay Mart Public is expected to generate 93.46 times more return on investment than Dow Jones. However, Jay Mart is 93.46 times more volatile than Dow Jones Industrial. It trades about 0.06 of its potential returns per unit of risk. Dow Jones Industrial is currently generating about 0.09 per unit of risk. If you would invest 4,025 in Jay Mart Public on August 31, 2024 and sell it today you would lose (2,635) from holding Jay Mart Public or give up 65.47% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 96.86% |
| Values | Daily Returns |
Jay Mart Public vs. Dow Jones Industrial
Performance |
| Timeline |
Jay Mart and Dow Jones Volatility Contrast
Predicted Return Density |
| Returns |
Jay Mart Public
Pair trading matchups for Jay Mart
Dow Jones Industrial
Pair trading matchups for Dow Jones
Pair Trading with Jay Mart and Dow Jones
The main advantage of trading using opposite Jay Mart and Dow Jones positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Jay Mart position performs unexpectedly, Dow Jones 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 Dow Jones will offset losses from the drop in Dow Jones' long position.| Jay Mart vs. Jay Mart Public | Jay Mart vs. Krungthai Card Public | Jay Mart vs. Kasikornbank Public | Jay Mart vs. KERRY EXPRESS |
| Dow Jones vs. Aerofoam Metals | Dow Jones vs. ACG Metals Limited | Dow Jones vs. China Clean Energy | Dow Jones vs. Fast Retailing Co |
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 Money Managers module to screen money managers from public funds and ETFs managed around the world.
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