Correlation Between Jay Mart and Indorama Ventures
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By analyzing existing cross correlation between Jay Mart Public and Indorama Ventures PCL, you can compare the effects of market volatilities on Jay Mart and Indorama Ventures 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 Indorama Ventures. Check out your portfolio center. Please also check ongoing floating volatility patterns of Jay Mart and Indorama Ventures.
Diversification Opportunities for Jay Mart and Indorama Ventures
0.65 | Correlation Coefficient |
Poor diversification
The 3 months correlation between Jay and Indorama is 0.65. Overlapping area represents the amount of risk that can be diversified away by holding Jay Mart Public and Indorama Ventures PCL in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Indorama Ventures PCL 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 Indorama Ventures. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Indorama Ventures PCL has no effect on the direction of Jay Mart i.e., Jay Mart and Indorama Ventures go up and down completely randomly.
Pair Corralation between Jay Mart and Indorama Ventures
Assuming the 90 days trading horizon Jay Mart Public is expected to generate 188.9 times more return on investment than Indorama Ventures. However, Jay Mart is 188.9 times more volatile than Indorama Ventures PCL. It trades about 0.58 of its potential returns per unit of risk. Indorama Ventures PCL is currently generating about -0.16 per unit of risk. If you would invest 0.00 in Jay Mart Public on December 6, 2024 and sell it today you would earn a total of 1,040 from holding Jay Mart Public or generate 9.223372036854776E16% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Significant |
| Accuracy | 13.64% |
| Values | Daily Returns |
Jay Mart Public vs. Indorama Ventures PCL
Performance |
| Timeline |
| Jay Mart Public |
Risk-Adjusted Performance
OK
Weak | Strong |
| Indorama Ventures PCL |
Jay Mart and Indorama Ventures Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Jay Mart and Indorama Ventures
The main advantage of trading using opposite Jay Mart and Indorama Ventures positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Jay Mart position performs unexpectedly, Indorama Ventures 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 Indorama Ventures will offset losses from the drop in Indorama Ventures' long position.| Jay Mart vs. WICE Logistics PCL | Jay Mart vs. VGI Public | Jay Mart vs. Thai Union Group | Jay Mart vs. Gunkul Engineering Public |
| Indorama Ventures vs. PTT Global Chemical | Indorama Ventures vs. PTT Exploration and | Indorama Ventures vs. CP ALL Public | Indorama Ventures vs. The Siam Cement |
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 Financial Widgets module to easily integrated Macroaxis content with over 30 different plug-and-play financial widgets.
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