Correlation Between Jay Mart and Super Energy
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By analyzing existing cross correlation between Jay Mart Public and Super Energy, you can compare the effects of market volatilities on Jay Mart and Super Energy 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 Jay Mart with a short position of Super Energy. Check out your portfolio center. Please also check ongoing floating volatility patterns of Jay Mart and Super Energy.
Diversification Opportunities for Jay Mart and Super Energy
0.6 | Correlation Coefficient |
Poor diversification
The 3 months correlation between Jay and Super is 0.6. Overlapping area represents the amount of risk that can be diversified away by holding Jay Mart Public and Super Energy in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Super Energy and Jay Mart 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 Jay Mart Public are associated (or correlated) with Super Energy. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Super Energy has no effect on the direction of Jay Mart i.e., Jay Mart and Super Energy go up and down completely randomly.
Pair Corralation between Jay Mart and Super Energy
Assuming the 90 days trading horizon Jay Mart Public is expected to generate 47.54 times more return on investment than Super Energy. However, Jay Mart is 47.54 times more volatile than Super Energy. It trades about 0.13 of its potential returns per unit of risk. Super Energy is currently generating about -0.2 per unit of risk. If you would invest 1,365 in Jay Mart Public on December 3, 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 | Significant |
Accuracy | 73.33% |
Values | Daily Returns |
Jay Mart Public vs. Super Energy
Performance |
Timeline |
Jay Mart Public |
Risk-Adjusted Performance
OK
Weak | Strong |
Super Energy |
Jay Mart and Super Energy Volatility Contrast
Predicted Return Density |
Returns |
Pair Trading with Jay Mart and Super Energy
The main advantage of trading using opposite Jay Mart and Super Energy positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Jay Mart position performs unexpectedly, Super Energy 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 Super Energy will offset losses from the drop in Super Energy's long position.Jay Mart vs. Digital Telecommunications Infrastructure | Jay Mart vs. Prime Office Leasehold | Jay Mart vs. CPN Retail Growth | Jay Mart vs. Dynasty Ceramic Public |
Super Energy vs. WHA Public | Super Energy vs. Bangkok Expressway and | Super Energy vs. Charoen Pokphand Foods | Super Energy vs. Energy Absolute Public |
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 Portfolio Comparator module to compare the composition, asset allocations and performance of any two portfolios in your account.
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