Correlation Between JEFFERIES and Li Auto
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By analyzing existing cross correlation between JEFFERIES GROUP INC and Li Auto, you can compare the effects of market volatilities on JEFFERIES and Li Auto 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 JEFFERIES with a short position of Li Auto. Check out your portfolio center. Please also check ongoing floating volatility patterns of JEFFERIES and Li Auto.
Diversification Opportunities for JEFFERIES and Li Auto
Very good diversification
The 3 months correlation between JEFFERIES and Li Auto is -0.22. Overlapping area represents the amount of risk that can be diversified away by holding JEFFERIES GROUP INC and Li Auto in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Li Auto and JEFFERIES 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 JEFFERIES GROUP INC are associated (or correlated) with Li Auto. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Li Auto has no effect on the direction of JEFFERIES i.e., JEFFERIES and Li Auto go up and down completely randomly.
Pair Corralation between JEFFERIES and Li Auto
Assuming the 90 days trading horizon JEFFERIES GROUP INC is expected to generate 14.08 times more return on investment than Li Auto. However, JEFFERIES is 14.08 times more volatile than Li Auto. It trades about 0.05 of its potential returns per unit of risk. Li Auto is currently generating about 0.03 per unit of risk. If you would invest 10,271 in JEFFERIES GROUP INC on December 4, 2024 and sell it today you would earn a total of 841.00 from holding JEFFERIES GROUP INC or generate 8.19% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 70.45% |
| Values | Daily Returns |
JEFFERIES GROUP INC vs. Li Auto
Performance |
| Timeline |
| JEFFERIES GROUP INC |
| Li Auto |
JEFFERIES and Li Auto Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with JEFFERIES and Li Auto
The main advantage of trading using opposite JEFFERIES and Li Auto positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if JEFFERIES position performs unexpectedly, Li Auto 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 Li Auto will offset losses from the drop in Li Auto's long position.| JEFFERIES vs. Lendlease Global Commercial | JEFFERIES vs. Global Net Lease | JEFFERIES vs. Hertz Global Hldgs | JEFFERIES vs. Lipocine |
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 Fundamental Analysis module to view fundamental data based on most recent published financial statements.
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