Correlation Between OFS Credit and Jupai Holdings
Can any of the company-specific risk be diversified away by investing in both OFS Credit and Jupai Holdings 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 OFS Credit and Jupai Holdings into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between OFS Credit and Jupai Holdings Limited, you can compare the effects of market volatilities on OFS Credit and Jupai Holdings 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 OFS Credit with a short position of Jupai Holdings. Check out your portfolio center. Please also check ongoing floating volatility patterns of OFS Credit and Jupai Holdings.
Diversification Opportunities for OFS Credit and Jupai Holdings
-0.65 | Correlation Coefficient |
Excellent diversification
The 3 months correlation between OFS and Jupai is -0.65. Overlapping area represents the amount of risk that can be diversified away by holding OFS Credit and Jupai Holdings Limited in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Jupai Holdings and OFS Credit 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 OFS Credit are associated (or correlated) with Jupai Holdings. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Jupai Holdings has no effect on the direction of OFS Credit i.e., OFS Credit and Jupai Holdings go up and down completely randomly.
Pair Corralation between OFS Credit and Jupai Holdings
If you would invest 2,369 in OFS Credit on August 24, 2024 and sell it today you would earn a total of 31.00 from holding OFS Credit or generate 1.31% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Weak |
| Accuracy | 4.35% |
| Values | Daily Returns |
OFS Credit vs. Jupai Holdings Limited
Performance |
| Timeline |
| OFS Credit |
| Jupai Holdings |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
OFS Credit and Jupai Holdings Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with OFS Credit and Jupai Holdings
The main advantage of trading using opposite OFS Credit and Jupai Holdings positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if OFS Credit position performs unexpectedly, Jupai Holdings 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 Jupai Holdings will offset losses from the drop in Jupai Holdings' long position.| OFS Credit vs. OFS Credit | OFS Credit vs. Oxford Lane Capital | OFS Credit vs. Gladstone Land Corp | OFS Credit vs. Eagle Point Income |
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 Funds Screener module to find actively-traded funds from around the world traded on over 30 global exchanges.
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