Correlation Between Jianzhi Education and Veea

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Can any of the company-specific risk be diversified away by investing in both Jianzhi Education and Veea 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 Jianzhi Education and Veea into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Jianzhi Education Technology and Veea Inc, you can compare the effects of market volatilities on Jianzhi Education and Veea 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 Jianzhi Education with a short position of Veea. Check out your portfolio center. Please also check ongoing floating volatility patterns of Jianzhi Education and Veea.

Diversification Opportunities for Jianzhi Education and Veea

JianzhiVeeaDiversified AwayJianzhiVeeaDiversified Away100%
0.17
  Correlation Coefficient

Average diversification

The 3 months correlation between Jianzhi and Veea is 0.17. Overlapping area represents the amount of risk that can be diversified away by holding Jianzhi Education Technology and Veea Inc in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Veea Inc and Jianzhi Education 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 Jianzhi Education Technology are associated (or correlated) with Veea. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Veea Inc has no effect on the direction of Jianzhi Education i.e., Jianzhi Education and Veea go up and down completely randomly.

Pair Corralation between Jianzhi Education and Veea

Allowing for the 90-day total investment horizon Jianzhi Education is expected to generate 1.21 times less return on investment than Veea. But when comparing it to its historical volatility, Jianzhi Education Technology is 1.82 times less risky than Veea. It trades about 0.06 of its potential returns per unit of risk. Veea Inc is currently generating about 0.04 of returns per unit of risk over similar time horizon. If you would invest  18.00  in Veea Inc on September 14, 2024 and sell it today you would lose (3.00) from holding Veea Inc or give up 16.67% of portfolio value over 90 days.
Time Period3 Months [change]
DirectionMoves Together 
StrengthInsignificant
Accuracy81.25%
ValuesDaily Returns

Jianzhi Education Technology  vs.  Veea Inc

 Performance 
JavaScript chart by amCharts 3.21.15OctNov -200204060
JavaScript chart by amCharts 3.21.15JZ VEEAW
       Timeline  
Jianzhi Education 

Risk-Adjusted Performance

4 of 100

 
Weak
 
Strong
Insignificant
Compared to the overall equity markets, risk-adjusted returns on investments in Jianzhi Education Technology are ranked lower than 4 (%) of all global equities and portfolios over the last 90 days. In spite of fairly weak basic indicators, Jianzhi Education showed solid returns over the last few months and may actually be approaching a breakup point.
JavaScript chart by amCharts 3.21.15OctNovDecNovDec0.850.90.9511.051.11.151.21.251.3
Veea Inc 

Risk-Adjusted Performance

3 of 100

 
Weak
 
Strong
Weak
Compared to the overall equity markets, risk-adjusted returns on investments in Veea Inc are ranked lower than 3 (%) of all global equities and portfolios over the last 90 days. In spite of fairly weak basic indicators, Veea showed solid returns over the last few months and may actually be approaching a breakup point.
JavaScript chart by amCharts 3.21.15OctNovDecNovDec0.050.10.150.20.250.3

Jianzhi Education and Veea Volatility Contrast

   Predicted Return Density   
JavaScript chart by amCharts 3.21.15-23.4-17.53-11.65-5.780.09795.8511.917.9524.030.06 0.0030.0040.0050.0060.007
JavaScript chart by amCharts 3.21.15JZ VEEAW
       Returns  

Pair Trading with Jianzhi Education and Veea

The main advantage of trading using opposite Jianzhi Education and Veea positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Jianzhi Education position performs unexpectedly, Veea 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 Veea will offset losses from the drop in Veea's long position.
The idea behind Jianzhi Education Technology and Veea Inc 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 Equity Search module to search for actively traded equities including funds and ETFs from over 30 global markets.

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