Correlation Between Astar and Cshg Jhsf

Can any of the company-specific risk be diversified away by investing in both Astar and Cshg Jhsf at the same time? Although using a correlation coefficient on its own may not help to predict future stock returns, this module helps to understand the diversifiable risk of combining Astar and Cshg Jhsf into the same portfolio, which is an essential part of the fundamental portfolio management process.

By analyzing existing cross correlation between Astar and Cshg Jhsf Prime, you can compare the effects of market volatilities on Astar and Cshg Jhsf 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 Astar with a short position of Cshg Jhsf. Check out your portfolio center. Please also check ongoing floating volatility patterns of Astar and Cshg Jhsf.

Diversification Opportunities for Astar and Cshg Jhsf

-0.78

Correlation Coefficient

Astar  Cshg Jhsf

Pay attention - limited upside

The 3 months correlation between Astar and Cshg is -0.78. Overlapping area represents the amount of risk that can be diversified away by holding Astar and Cshg Jhsf Prime in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Cshg Jhsf Prime and Astar 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 Astar are associated (or correlated) with Cshg Jhsf. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Cshg Jhsf Prime has no effect on the direction of Astar i.e., Astar and Cshg Jhsf go up and down completely randomly.

Pair Corralation between Astar and Cshg Jhsf

Assuming the 90 days trading horizon Astar is expected to under-perform the Cshg Jhsf. In addition to that, Astar is 5.09 times more volatile than Cshg Jhsf Prime. It trades about -0.19 of its total potential returns per unit of risk. Cshg Jhsf Prime is currently generating about 0.1 per unit of volatility. If you would invest  12,500  in Cshg Jhsf Prime on December 22, 2024 and sell it today you would earn a total of  700.00  from holding Cshg Jhsf Prime or generate 5.6% return on investment over 90 days.

Time Period	3 Months [change]
Direction	Moves Against
Strength	Weak
Accuracy	90.77%
Values	Daily Returns

Astar  vs.  Cshg Jhsf Prime

Astar

Risk-Adjusted Performance

Very Weak

Over the last 90 days Astar has generated negative risk-adjusted returns adding no value to investors with long positions. In spite of unsteady performance in the last few months, the Crypto's fundamental indicators remain rather sound which may send shares a bit higher in April 2025. The latest tumult may also be a sign of longer-term up-swing for Astar shareholders.

Cshg Jhsf Prime

Risk-Adjusted Performance

OK

Compared to the overall equity markets, risk-adjusted returns on investments in Cshg Jhsf Prime are ranked lower than 7 (%) of all funds and portfolios of funds over the last 90 days. Despite somewhat strong basic indicators, Cshg Jhsf is not utilizing all of its potentials. The current stock price disturbance, may contribute to short-term losses for the investors.

Pair Trading with Astar and Cshg Jhsf

The main advantage of trading using opposite Astar and Cshg Jhsf positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Astar position performs unexpectedly, Cshg Jhsf 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 Cshg Jhsf will offset losses from the drop in Cshg Jhsf's long position.

The idea behind Astar and Cshg Jhsf Prime pairs trading is to make the combined position market-neutral, meaning the overall market's direction will not affect its win or loss (or potential downside or upside). This can be achieved by designing a pairs trade with two highly correlated stocks or equities that operate in a similar space or sector, making it possible to obtain profits through simple and relatively low-risk investment.

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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 Earnings Calls module to check upcoming earnings announcements updated hourly across public exchanges.