Correlation Between Jay Mart and Ichitan Group
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By analyzing existing cross correlation between Jay Mart Public and Ichitan Group Public, you can compare the effects of market volatilities on Jay Mart and Ichitan Group 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 Ichitan Group. Check out your portfolio center. Please also check ongoing floating volatility patterns of Jay Mart and Ichitan Group.
Diversification Opportunities for Jay Mart and Ichitan Group
-0.04 | Correlation Coefficient |
Good diversification
The 3 months correlation between Jay and Ichitan is -0.04. Overlapping area represents the amount of risk that can be diversified away by holding Jay Mart Public and Ichitan Group Public in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Ichitan Group Public 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 Ichitan Group. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Ichitan Group Public has no effect on the direction of Jay Mart i.e., Jay Mart and Ichitan Group go up and down completely randomly.
Pair Corralation between Jay Mart and Ichitan Group
Assuming the 90 days trading horizon Jay Mart is expected to generate 1.6 times less return on investment than Ichitan Group. But when comparing it to its historical volatility, Jay Mart Public is 1.22 times less risky than Ichitan Group. It trades about 0.05 of its potential returns per unit of risk. Ichitan Group Public is currently generating about 0.07 of returns per unit of risk over similar time horizon. If you would invest 1,144 in Ichitan Group Public on September 21, 2024 and sell it today you would earn a total of 276.00 from holding Ichitan Group Public or generate 24.13% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Jay Mart Public vs. Ichitan Group Public
Performance |
| Timeline |
| Jay Mart Public |
| Ichitan Group Public |
Jay Mart and Ichitan Group Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Jay Mart and Ichitan Group
The main advantage of trading using opposite Jay Mart and Ichitan Group positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Jay Mart position performs unexpectedly, Ichitan Group 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 Ichitan Group will offset losses from the drop in Ichitan Group's long position.| Jay Mart vs. Quality Houses Property | Jay Mart vs. The Erawan Group | Jay Mart vs. Airports of Thailand | Jay Mart vs. Eastern Technical Engineering |
| Ichitan Group vs. Quality Houses Property | Ichitan Group vs. The Erawan Group | Ichitan Group vs. Jay Mart Public | Ichitan Group vs. Airports of Thailand |
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 Efficient Frontier module to plot and analyze your portfolio and positions against risk-return landscape of the market..
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