Correlation Between Jasmine Telecom and Future Park
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By analyzing existing cross correlation between Jasmine Telecom Systems and Future Park Leasehold, you can compare the effects of market volatilities on Jasmine Telecom and Future Park 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 Jasmine Telecom with a short position of Future Park. Check out your portfolio center. Please also check ongoing floating volatility patterns of Jasmine Telecom and Future Park.
Diversification Opportunities for Jasmine Telecom and Future Park
0.01 | Correlation Coefficient |
Significant diversification
The 3 months correlation between Jasmine and Future is 0.01. Overlapping area represents the amount of risk that can be diversified away by holding Jasmine Telecom Systems and Future Park Leasehold in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Future Park Leasehold and Jasmine Telecom 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 Jasmine Telecom Systems are associated (or correlated) with Future Park. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Future Park Leasehold has no effect on the direction of Jasmine Telecom i.e., Jasmine Telecom and Future Park go up and down completely randomly.
Pair Corralation between Jasmine Telecom and Future Park
Assuming the 90 days trading horizon Jasmine Telecom is expected to generate 78.83 times less return on investment than Future Park. But when comparing it to its historical volatility, Jasmine Telecom Systems is 33.84 times less risky than Future Park. It trades about 0.04 of its potential returns per unit of risk. Future Park Leasehold is currently generating about 0.1 of returns per unit of risk over similar time horizon. If you would invest 1,160 in Future Park Leasehold on September 3, 2024 and sell it today you would lose (1,160) from holding Future Park Leasehold or give up 100.0% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 94.94% |
| Values | Daily Returns |
Jasmine Telecom Systems vs. Future Park Leasehold
Performance |
| Timeline |
| Jasmine Telecom Systems |
| Future Park Leasehold |
Jasmine Telecom and Future Park Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Jasmine Telecom and Future Park
The main advantage of trading using opposite Jasmine Telecom and Future Park positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Jasmine Telecom position performs unexpectedly, Future Park 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 Future Park will offset losses from the drop in Future Park's long position.| Jasmine Telecom vs. Jay Mart Public | Jasmine Telecom vs. Jasmine International Public | Jasmine Telecom vs. KCE Electronics Public | Jasmine Telecom vs. Delta Electronics Public |
| Future Park vs. SAF Special Steel | Future Park vs. Pato Chemical Industry | Future Park vs. Central Retail | Future Park vs. CPR Gomu Industrial |
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 Price Ceiling Movement module to calculate and plot Price Ceiling Movement for different equity instruments.
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