Correlation Between Jay Mart and INET Leasehold
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By analyzing existing cross correlation between Jay Mart Public and INET Leasehold REIT, you can compare the effects of market volatilities on Jay Mart and INET Leasehold 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 INET Leasehold. Check out your portfolio center. Please also check ongoing floating volatility patterns of Jay Mart and INET Leasehold.
Diversification Opportunities for Jay Mart and INET Leasehold
-0.2 | Correlation Coefficient |
Good diversification
The 3 months correlation between Jay and INET is -0.2. Overlapping area represents the amount of risk that can be diversified away by holding Jay Mart Public and INET Leasehold REIT in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on INET Leasehold REIT 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 INET Leasehold. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of INET Leasehold REIT has no effect on the direction of Jay Mart i.e., Jay Mart and INET Leasehold go up and down completely randomly.
Pair Corralation between Jay Mart and INET Leasehold
Assuming the 90 days trading horizon Jay Mart Public is expected to under-perform the INET Leasehold. In addition to that, Jay Mart is 9.8 times more volatile than INET Leasehold REIT. It trades about -0.22 of its total potential returns per unit of risk. INET Leasehold REIT is currently generating about 0.0 per unit of volatility. If you would invest 845.00 in INET Leasehold REIT on October 22, 2024 and sell it today you would earn a total of 0.00 from holding INET Leasehold REIT or generate 0.0% 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. INET Leasehold REIT
Performance |
Timeline |
Jay Mart Public |
INET Leasehold REIT |
Jay Mart and INET Leasehold Volatility Contrast
Predicted Return Density |
Returns |
Pair Trading with Jay Mart and INET Leasehold
The main advantage of trading using opposite Jay Mart and INET Leasehold positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Jay Mart position performs unexpectedly, INET Leasehold 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 INET Leasehold will offset losses from the drop in INET Leasehold's long position.Jay Mart vs. CPN Commercial Growth | Jay Mart vs. HEMARAJ INDUSTRIAL PROPERTY | Jay Mart vs. Future Park Leasehold | Jay Mart vs. The Erawan Group |
INET Leasehold vs. CPN Commercial Growth | INET Leasehold vs. HEMARAJ INDUSTRIAL PROPERTY | INET Leasehold vs. Future Park Leasehold | INET Leasehold vs. The Erawan Group |
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 Analyst Advice module to analyst recommendations and target price estimates broken down by several categories.
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