Correlation Between Walker Dunlop and Jinhui Mining
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By analyzing existing cross correlation between Walker Dunlop and Jinhui Mining Co, you can compare the effects of market volatilities on Walker Dunlop and Jinhui Mining 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 Jinhui Mining. Check out your portfolio center. Please also check ongoing floating volatility patterns of Walker Dunlop and Jinhui Mining.
Diversification Opportunities for Walker Dunlop and Jinhui Mining
0.17 | Correlation Coefficient |
Average diversification
The 3 months correlation between Walker and Jinhui is 0.17. Overlapping area represents the amount of risk that can be diversified away by holding Walker Dunlop and Jinhui Mining Co in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Jinhui Mining 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 Jinhui Mining. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Jinhui Mining has no effect on the direction of Walker Dunlop i.e., Walker Dunlop and Jinhui Mining go up and down completely randomly.
Pair Corralation between Walker Dunlop and Jinhui Mining
Allowing for the 90-day total investment horizon Walker Dunlop is expected to generate 0.77 times more return on investment than Jinhui Mining. However, Walker Dunlop is 1.3 times less risky than Jinhui Mining. It trades about -0.01 of its potential returns per unit of risk. Jinhui Mining Co is currently generating about -0.11 per unit of risk. If you would invest 11,120 in Walker Dunlop on August 29, 2024 and sell it today you would lose (64.00) from holding Walker Dunlop or give up 0.58% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Walker Dunlop vs. Jinhui Mining Co
Performance |
| Timeline |
| Walker Dunlop |
| Jinhui Mining |
Walker Dunlop and Jinhui Mining Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Walker Dunlop and Jinhui Mining
The main advantage of trading using opposite Walker Dunlop and Jinhui Mining positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Walker Dunlop position performs unexpectedly, Jinhui Mining 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 Jinhui Mining will offset losses from the drop in Jinhui Mining'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 |
| Jinhui Mining vs. Panda Financial Holding | Jinhui Mining vs. Gome Telecom Equipment | Jinhui Mining vs. Guangdong Qunxing Toys | Jinhui Mining vs. China Everbright Bank |
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 Equity Search module to search for actively traded equities including funds and ETFs from over 30 global markets.
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