Correlation Between Jayud Global and CH Robinson
Can any of the company-specific risk be diversified away by investing in both Jayud Global and CH Robinson 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 Jayud Global and CH Robinson into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Jayud Global Logistics and CH Robinson Worldwide, you can compare the effects of market volatilities on Jayud Global and CH Robinson 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 Jayud Global with a short position of CH Robinson. Check out your portfolio center. Please also check ongoing floating volatility patterns of Jayud Global and CH Robinson.
Diversification Opportunities for Jayud Global and CH Robinson
-0.21 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Jayud and CHRW is -0.21. Overlapping area represents the amount of risk that can be diversified away by holding Jayud Global Logistics and CH Robinson Worldwide in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on CH Robinson Worldwide and Jayud Global 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 Jayud Global Logistics are associated (or correlated) with CH Robinson. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of CH Robinson Worldwide has no effect on the direction of Jayud Global i.e., Jayud Global and CH Robinson go up and down completely randomly.
Pair Corralation between Jayud Global and CH Robinson
Considering the 90-day investment horizon Jayud Global Logistics is expected to generate 5.08 times more return on investment than CH Robinson. However, Jayud Global is 5.08 times more volatile than CH Robinson Worldwide. It trades about 0.04 of its potential returns per unit of risk. CH Robinson Worldwide is currently generating about 0.01 per unit of risk. If you would invest 400.00 in Jayud Global Logistics on November 5, 2024 and sell it today you would lose (29.00) from holding Jayud Global Logistics or give up 7.25% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 90.89% |
| Values | Daily Returns |
Jayud Global Logistics vs. CH Robinson Worldwide
Performance |
| Timeline |
| Jayud Global Logistics |
| CH Robinson Worldwide |
Jayud Global and CH Robinson Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Jayud Global and CH Robinson
The main advantage of trading using opposite Jayud Global and CH Robinson positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Jayud Global position performs unexpectedly, CH Robinson 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 CH Robinson will offset losses from the drop in CH Robinson's long position.| Jayud Global vs. Nexstar Broadcasting Group | Jayud Global vs. Taiwan Semiconductor Manufacturing | Jayud Global vs. Mattel Inc | Jayud Global vs. Here Media |
| CH Robinson vs. JB Hunt Transport | CH Robinson vs. Landstar System | CH Robinson vs. Hub Group | CH Robinson vs. Forward Air |
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 AI Portfolio Architect module to use AI to generate optimal portfolios and find profitable investment opportunities.
Other Complementary Tools
| Bonds Directory Find actively traded corporate debentures issued by US companies | |
| Portfolio Optimization Compute new portfolio that will generate highest expected return given your specified tolerance for risk | |
| Equity Search Search for actively traded equities including funds and ETFs from over 30 global markets | |
| Cryptocurrency Center Build and monitor diversified portfolio of extremely risky digital assets and cryptocurrency | |
| Headlines Timeline Stay connected to all market stories and filter out noise. Drill down to analyze hype elasticity |