Correlation Between Jay Mart and Multi National
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By analyzing existing cross correlation between Jay Mart Public and Multi National Residence, you can compare the effects of market volatilities on Jay Mart and Multi National 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 Multi National. Check out your portfolio center. Please also check ongoing floating volatility patterns of Jay Mart and Multi National.
Diversification Opportunities for Jay Mart and Multi National
-0.09 | Correlation Coefficient |
Good diversification
The 3 months correlation between Jay and Multi is -0.09. Overlapping area represents the amount of risk that can be diversified away by holding Jay Mart Public and Multi National Residence in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Multi National Residence 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 Multi National. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Multi National Residence has no effect on the direction of Jay Mart i.e., Jay Mart and Multi National go up and down completely randomly.
Pair Corralation between Jay Mart and Multi National
Assuming the 90 days trading horizon Jay Mart is expected to generate 19.46 times less return on investment than Multi National. But when comparing it to its historical volatility, Jay Mart Public is 4.2 times less risky than Multi National. It trades about 0.07 of its potential returns per unit of risk. Multi National Residence is currently generating about 0.33 of returns per unit of risk over similar time horizon. If you would invest 276.00 in Multi National Residence on September 12, 2024 and sell it today you would lose (276.00) from holding Multi National Residence or give up 100.0% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 95.33% |
| Values | Daily Returns |
Jay Mart Public vs. Multi National Residence
Performance |
| Timeline |
| Jay Mart Public |
| Multi National Residence |
Jay Mart and Multi National Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Jay Mart and Multi National
The main advantage of trading using opposite Jay Mart and Multi National positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Jay Mart position performs unexpectedly, Multi National 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 Multi National will offset losses from the drop in Multi National'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 |
| Multi National vs. Siri Prime Office | Multi National vs. Quality Houses Property | Multi National vs. The Erawan Group | Multi National vs. Jay Mart Public |
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 Pattern Recognition module to use different Pattern Recognition models to time the market across multiple global exchanges.
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