Correlation Between Jay Mart and RS Public
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By analyzing existing cross correlation between Jay Mart Public and RS Public, you can compare the effects of market volatilities on Jay Mart and RS Public 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 RS Public. Check out your portfolio center. Please also check ongoing floating volatility patterns of Jay Mart and RS Public.
Diversification Opportunities for Jay Mart and RS Public
Poor diversification
The 3 months correlation between Jay and RS-R is 0.78. Overlapping area represents the amount of risk that can be diversified away by holding Jay Mart Public and RS Public in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on RS 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 RS Public. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of RS Public has no effect on the direction of Jay Mart i.e., Jay Mart and RS Public go up and down completely randomly.
Pair Corralation between Jay Mart and RS Public
Assuming the 90 days trading horizon Jay Mart Public is expected to generate 0.91 times more return on investment than RS Public. However, Jay Mart Public is 1.09 times less risky than RS Public. It trades about -0.13 of its potential returns per unit of risk. RS Public is currently generating about -0.24 per unit of risk. If you would invest 1,593 in Jay Mart Public on September 3, 2024 and sell it today you would lose (183.00) from holding Jay Mart Public or give up 11.49% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Significant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Jay Mart Public vs. RS Public
Performance |
| Timeline |
| Jay Mart Public |
| RS Public |
Jay Mart and RS Public Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Jay Mart and RS Public
The main advantage of trading using opposite Jay Mart and RS Public positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Jay Mart position performs unexpectedly, RS Public 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 RS Public will offset losses from the drop in RS Public'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 |
| RS Public vs. Kiatnakin Phatra Bank | RS Public vs. Ramkhamhaeng Hospital Public | RS Public vs. Praram 9 Hospital | RS Public vs. Business Online PCL |
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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