Correlation Between JMT Auto and Dow Jones
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By analyzing existing cross correlation between JMT Auto Limited and Dow Jones Industrial, you can compare the effects of market volatilities on JMT Auto and Dow Jones 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 JMT Auto with a short position of Dow Jones. Check out your portfolio center. Please also check ongoing floating volatility patterns of JMT Auto and Dow Jones.
Diversification Opportunities for JMT Auto and Dow Jones
Pay attention - limited upside
The 3 months correlation between JMT and Dow is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding JMT Auto Limited and Dow Jones Industrial in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Dow Jones Industrial and JMT Auto 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 JMT Auto Limited are associated (or correlated) with Dow Jones. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Dow Jones Industrial has no effect on the direction of JMT Auto i.e., JMT Auto and Dow Jones go up and down completely randomly.
Pair Corralation between JMT Auto and Dow Jones
If you would invest (100.00) in JMT Auto Limited on November 28, 2024 and sell it today you would earn a total of 100.00 from holding JMT Auto Limited or generate -100.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 0.0% |
| Values | Daily Returns |
JMT Auto Limited vs. Dow Jones Industrial
Performance |
| Timeline |
JMT Auto and Dow Jones Volatility Contrast
Predicted Return Density |
| Returns |
JMT Auto Limited
Pair trading matchups for JMT Auto
Dow Jones Industrial
Pair trading matchups for Dow Jones
Pair Trading with JMT Auto and Dow Jones
The main advantage of trading using opposite JMT Auto and Dow Jones positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if JMT Auto position performs unexpectedly, Dow Jones 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 Dow Jones will offset losses from the drop in Dow Jones' long position.| JMT Auto vs. Kavveri Telecom Products | JMT Auto vs. LT Technology Services | JMT Auto vs. Pritish Nandy Communications | JMT Auto vs. Tera Software Limited |
| Dow Jones vs. Gladstone Investment | Dow Jones vs. BW Offshore Limited | Dow Jones vs. Fidus Investment Corp | Dow Jones vs. Aperture Health |
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 Portfolio Holdings module to check your current holdings and cash postion to detemine if your portfolio needs rebalancing.
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