Correlation Between E For and Jay Mart
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By analyzing existing cross correlation between E for L and Jay Mart Public, you can compare the effects of market volatilities on E For and Jay Mart 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 E For with a short position of Jay Mart. Check out your portfolio center. Please also check ongoing floating volatility patterns of E For and Jay Mart.
Diversification Opportunities for E For and Jay Mart
Very weak diversification
The 3 months correlation between EFORL and Jay is 0.51. Overlapping area represents the amount of risk that can be diversified away by holding E for L and Jay Mart Public in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Jay Mart Public and E For 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 E for L are associated (or correlated) with Jay Mart. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Jay Mart Public has no effect on the direction of E For i.e., E For and Jay Mart go up and down completely randomly.
Pair Corralation between E For and Jay Mart
Assuming the 90 days trading horizon E for L is expected to under-perform the Jay Mart. But the stock apears to be less risky and, when comparing its historical volatility, E for L is 45.44 times less risky than Jay Mart. The stock trades about -0.08 of its potential returns per unit of risk. The Jay Mart Public is currently generating about 0.13 of returns per unit of risk over similar time horizon. If you would invest 1,365 in Jay Mart Public on December 2, 2024 and sell it today you would lose (325.00) from holding Jay Mart Public or give up 23.81% of portfolio value over 90 days.
Time Period | 3 Months [change] |
Direction | Moves Together |
Strength | Weak |
Accuracy | 73.77% |
Values | Daily Returns |
E for L vs. Jay Mart Public
Performance |
Timeline |
E for L |
Jay Mart Public |
Risk-Adjusted Performance
OK
Weak | Strong |
E For and Jay Mart Volatility Contrast
Predicted Return Density |
Returns |
Pair Trading with E For and Jay Mart
The main advantage of trading using opposite E For and Jay Mart positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if E For position performs unexpectedly, Jay Mart 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 Jay Mart will offset losses from the drop in Jay Mart's long position.E For vs. East Coast Furnitech | E For vs. Forth Smart Service | E For vs. Filter Vision Public | E For vs. ARIP Public |
Jay Mart vs. Jay Mart Public | Jay Mart vs. Krungthai Card Public | Jay Mart vs. Kasikornbank Public | Jay Mart vs. KERRY EXPRESS |
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 Instant Ratings module to determine any equity ratings based on digital recommendations. Macroaxis instant equity ratings are based on combination of fundamental analysis and risk-adjusted market performance.
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