Correlation Between Walker Dunlop and Jinling Hotel
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By analyzing existing cross correlation between Walker Dunlop and Jinling Hotel Corp, you can compare the effects of market volatilities on Walker Dunlop and Jinling Hotel 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 Jinling Hotel. Check out your portfolio center. Please also check ongoing floating volatility patterns of Walker Dunlop and Jinling Hotel.
Diversification Opportunities for Walker Dunlop and Jinling Hotel
0.21 | Correlation Coefficient |
Modest diversification
The 3 months correlation between Walker and Jinling is 0.21. Overlapping area represents the amount of risk that can be diversified away by holding Walker Dunlop and Jinling Hotel Corp in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Jinling Hotel Corp 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 Jinling Hotel. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Jinling Hotel Corp has no effect on the direction of Walker Dunlop i.e., Walker Dunlop and Jinling Hotel go up and down completely randomly.
Pair Corralation between Walker Dunlop and Jinling Hotel
Allowing for the 90-day total investment horizon Walker Dunlop is expected to under-perform the Jinling Hotel. But the stock apears to be less risky and, when comparing its historical volatility, Walker Dunlop is 1.37 times less risky than Jinling Hotel. The stock trades about -0.16 of its potential returns per unit of risk. The Jinling Hotel Corp is currently generating about 0.04 of returns per unit of risk over similar time horizon. If you would invest 666.00 in Jinling Hotel Corp on August 25, 2024 and sell it today you would earn a total of 9.00 from holding Jinling Hotel Corp or generate 1.35% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 95.65% |
| Values | Daily Returns |
Walker Dunlop vs. Jinling Hotel Corp
Performance |
| Timeline |
| Walker Dunlop |
| Jinling Hotel Corp |
Walker Dunlop and Jinling Hotel Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Walker Dunlop and Jinling Hotel
The main advantage of trading using opposite Walker Dunlop and Jinling Hotel positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Walker Dunlop position performs unexpectedly, Jinling Hotel 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 Jinling Hotel will offset losses from the drop in Jinling Hotel'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 |
| Jinling Hotel vs. Ningbo Fangzheng Automobile | Jinling Hotel vs. Road Environment Technology | Jinling Hotel vs. Glodon Software Co | Jinling Hotel vs. Linewell Software Co |
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 Fundamentals Comparison module to compare fundamentals across multiple equities to find investing opportunities.
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