Correlation Between ON SEMICONDUCTOR and JINS HOLDINGS

Can any of the company-specific risk be diversified away by investing in both ON SEMICONDUCTOR and JINS HOLDINGS 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 ON SEMICONDUCTOR and JINS HOLDINGS into the same portfolio, which is an essential part of the fundamental portfolio management process.

By analyzing existing cross correlation between ON SEMICONDUCTOR and JINS HOLDINGS INC, you can compare the effects of market volatilities on ON SEMICONDUCTOR and JINS HOLDINGS 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 ON SEMICONDUCTOR with a short position of JINS HOLDINGS. Check out your portfolio center. Please also check ongoing floating volatility patterns of ON SEMICONDUCTOR and JINS HOLDINGS.

Diversification Opportunities for ON SEMICONDUCTOR and JINS HOLDINGS

0.0

Correlation Coefficient

ON SEMICONDUCTOR  JINS HOLDINGS

Pay attention - limited upside

The 3 months correlation between XS4 and JINS is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding ON SEMICONDUCTOR and JINS HOLDINGS INC in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on JINS HOLDINGS INC and ON SEMICONDUCTOR 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 ON SEMICONDUCTOR are associated (or correlated) with JINS HOLDINGS. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of JINS HOLDINGS INC has no effect on the direction of ON SEMICONDUCTOR i.e., ON SEMICONDUCTOR and JINS HOLDINGS go up and down completely randomly.

Pair Corralation between ON SEMICONDUCTOR and JINS HOLDINGS

If you would invest  0.00  in JINS HOLDINGS INC on December 28, 2024 and sell it today you would earn a total of  0.00  from holding JINS HOLDINGS INC or generate 0.0% return on investment over 90 days.

Time Period	3 Months [change]
Direction	Flat
Strength	Insignificant
Accuracy	1.61%
Values	Daily Returns

ON SEMICONDUCTOR  vs.  JINS HOLDINGS INC

ON SEMICONDUCTOR

Risk-Adjusted Performance

Very Weak

Over the last 90 days ON SEMICONDUCTOR has generated negative risk-adjusted returns adding no value to investors with long positions. In spite of uncertain performance in the last few months, the Stock's basic indicators remain comparatively stable which may send shares a bit higher in April 2025. The newest uproar may also be a sign of mid-term up-swing for the firm private investors.

JINS HOLDINGS INC

Risk-Adjusted Performance

OK

Over the last 90 days JINS HOLDINGS INC has generated negative risk-adjusted returns adding no value to investors with long positions. Despite nearly stable basic indicators, JINS HOLDINGS is not utilizing all of its potentials. The current stock price disturbance, may contribute to mid-run losses for the stockholders.

Pair Trading with ON SEMICONDUCTOR and JINS HOLDINGS

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

The idea behind ON SEMICONDUCTOR and JINS HOLDINGS 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.

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 File Import module to quickly import all of your third-party portfolios from your local drive in csv format.