Correlation Between Jasmine Telecom and Stock Exchange
Can any of the company-specific risk be diversified away by investing in both Jasmine Telecom and Stock Exchange at the same time? Although using a correlation coefficient on its own may not help to predict future stock returns, this module helps to understand the diversifiable risk of combining Jasmine Telecom and Stock Exchange into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Jasmine Telecom Systems and Stock Exchange Of, you can compare the effects of market volatilities on Jasmine Telecom and Stock Exchange 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 Stock Exchange. Check out your portfolio center. Please also check ongoing floating volatility patterns of Jasmine Telecom and Stock Exchange.
Diversification Opportunities for Jasmine Telecom and Stock Exchange
0.44 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between Jasmine and Stock is 0.44. Overlapping area represents the amount of risk that can be diversified away by holding Jasmine Telecom Systems and Stock Exchange Of in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Stock Exchange 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 Stock Exchange. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Stock Exchange has no effect on the direction of Jasmine Telecom i.e., Jasmine Telecom and Stock Exchange go up and down completely randomly.
Pair Corralation between Jasmine Telecom and Stock Exchange
Assuming the 90 days trading horizon Jasmine Telecom Systems is expected to under-perform the Stock Exchange. In addition to that, Jasmine Telecom is 4.41 times more volatile than Stock Exchange Of. It trades about 0.0 of its total potential returns per unit of risk. Stock Exchange Of is currently generating about 0.08 per unit of volatility. If you would invest 133,732 in Stock Exchange Of on September 2, 2024 and sell it today you would earn a total of 9,022 from holding Stock Exchange Of or generate 6.75% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Jasmine Telecom Systems vs. Stock Exchange Of
Performance |
| Timeline |
Jasmine Telecom and Stock Exchange Volatility Contrast
Predicted Return Density |
| Returns |
Jasmine Telecom Systems
Pair trading matchups for Jasmine Telecom
Stock Exchange Of
Pair trading matchups for Stock Exchange
Pair Trading with Jasmine Telecom and Stock Exchange
The main advantage of trading using opposite Jasmine Telecom and Stock Exchange positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Jasmine Telecom position performs unexpectedly, Stock Exchange 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 Stock Exchange will offset losses from the drop in Stock Exchange's long position.| Jasmine Telecom vs. AP Public | Jasmine Telecom vs. Jasmine International Public | Jasmine Telecom vs. Asia Plus Group | Jasmine Telecom vs. Bangchak Public |
| Stock Exchange vs. Central Retail | Stock Exchange vs. Interlink Communication Public | Stock Exchange vs. NSL Foods Public | Stock Exchange vs. Central Plaza Hotel |
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 Headlines Timeline module to stay connected to all market stories and filter out noise. Drill down to analyze hype elasticity.
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