Correlation Between Walker Dunlop and Jinhe Biotechnology
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By analyzing existing cross correlation between Walker Dunlop and Jinhe Biotechnology Co, you can compare the effects of market volatilities on Walker Dunlop and Jinhe Biotechnology 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 Jinhe Biotechnology. Check out your portfolio center. Please also check ongoing floating volatility patterns of Walker Dunlop and Jinhe Biotechnology.
Diversification Opportunities for Walker Dunlop and Jinhe Biotechnology
0.46 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between Walker and Jinhe is 0.46. Overlapping area represents the amount of risk that can be diversified away by holding Walker Dunlop and Jinhe Biotechnology Co in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Jinhe Biotechnology 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 Jinhe Biotechnology. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Jinhe Biotechnology has no effect on the direction of Walker Dunlop i.e., Walker Dunlop and Jinhe Biotechnology go up and down completely randomly.
Pair Corralation between Walker Dunlop and Jinhe Biotechnology
Allowing for the 90-day total investment horizon Walker Dunlop is expected to under-perform the Jinhe Biotechnology. But the stock apears to be less risky and, when comparing its historical volatility, Walker Dunlop is 1.3 times less risky than Jinhe Biotechnology. The stock trades about -0.04 of its potential returns per unit of risk. The Jinhe Biotechnology Co is currently generating about 0.08 of returns per unit of risk over similar time horizon. If you would invest 360.00 in Jinhe Biotechnology Co on October 26, 2024 and sell it today you would earn a total of 73.00 from holding Jinhe Biotechnology Co or generate 20.28% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 98.37% |
| Values | Daily Returns |
Walker Dunlop vs. Jinhe Biotechnology Co
Performance |
| Timeline |
| Walker Dunlop |
| Jinhe Biotechnology |
Walker Dunlop and Jinhe Biotechnology Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Walker Dunlop and Jinhe Biotechnology
The main advantage of trading using opposite Walker Dunlop and Jinhe Biotechnology positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Walker Dunlop position performs unexpectedly, Jinhe Biotechnology 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 Jinhe Biotechnology will offset losses from the drop in Jinhe Biotechnology'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 |
| Jinhe Biotechnology vs. Beingmate Baby Child | Jinhe Biotechnology vs. FSPG Hi Tech Co | Jinhe Biotechnology vs. Zhejiang JIULI Hi tech | Jinhe Biotechnology vs. Heilongjiang Transport Development |
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 Investing Opportunities module to build portfolios using our predefined set of ideas and optimize them against your investing preferences.
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