Correlation Between Walker Dunlop and Jiugui Liquor
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By analyzing existing cross correlation between Walker Dunlop and Jiugui Liquor Co, you can compare the effects of market volatilities on Walker Dunlop and Jiugui Liquor 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 Walker Dunlop with a short position of Jiugui Liquor. Check out your portfolio center. Please also check ongoing floating volatility patterns of Walker Dunlop and Jiugui Liquor.
Diversification Opportunities for Walker Dunlop and Jiugui Liquor
0.3 | Correlation Coefficient |
Weak diversification
The 3 months correlation between Walker and Jiugui is 0.3. Overlapping area represents the amount of risk that can be diversified away by holding Walker Dunlop and Jiugui Liquor Co in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Jiugui Liquor and Walker Dunlop 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 Walker Dunlop are associated (or correlated) with Jiugui Liquor. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Jiugui Liquor has no effect on the direction of Walker Dunlop i.e., Walker Dunlop and Jiugui Liquor go up and down completely randomly.
Pair Corralation between Walker Dunlop and Jiugui Liquor
Allowing for the 90-day total investment horizon Walker Dunlop is expected to generate 0.75 times more return on investment than Jiugui Liquor. However, Walker Dunlop is 1.33 times less risky than Jiugui Liquor. It trades about 0.06 of its potential returns per unit of risk. Jiugui Liquor Co is currently generating about -0.02 per unit of risk. If you would invest 7,596 in Walker Dunlop on September 1, 2024 and sell it today you would earn a total of 3,422 from holding Walker Dunlop or generate 45.05% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 96.24% |
| Values | Daily Returns |
Walker Dunlop vs. Jiugui Liquor Co
Performance |
| Timeline |
| Walker Dunlop |
| Jiugui Liquor |
Walker Dunlop and Jiugui Liquor Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Walker Dunlop and Jiugui Liquor
The main advantage of trading using opposite Walker Dunlop and Jiugui Liquor positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Walker Dunlop position performs unexpectedly, Jiugui Liquor 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 Jiugui Liquor will offset losses from the drop in Jiugui Liquor's long position.| Walker Dunlop vs. Mr Cooper Group | Walker Dunlop vs. Velocity Financial Llc | Walker Dunlop vs. Security National Financial | Walker Dunlop vs. Encore Capital Group |
| Jiugui Liquor vs. Ningbo Jintian Copper | Jiugui Liquor vs. Dalian Thermal Power | Jiugui Liquor vs. Shengda Mining Co | Jiugui Liquor vs. Westone Information Industry |
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 Idea Analyzer module to analyze all characteristics, volatility and risk-adjusted return of Macroaxis ideas.
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