Correlation Between JIN MEDICAL and ATRION

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

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

Diversification Opportunities for JIN MEDICAL and ATRION

0.0

Correlation Coefficient

JIN MEDICAL  ATRION

Pay attention - limited upside

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

Pair Corralation between JIN MEDICAL and ATRION

If you would invest (100.00) in ATRION on December 27, 2024 and sell it today you would earn a total of  100.00  from holding ATRION or generate -100.0% return on investment over 90 days.

Time Period	3 Months [change]
Direction	Flat
Strength	Insignificant
Accuracy	0.0%
Values	Daily Returns

JIN MEDICAL INTERNATIONAL  vs.  ATRION

JIN MEDICAL INTERNATIONAL

Risk-Adjusted Performance

Very Weak

Over the last 90 days JIN MEDICAL INTERNATIONAL has generated negative risk-adjusted returns adding no value to investors with long positions. Despite weak performance in the last few months, the Stock's basic indicators remain quite persistent which may send shares a bit higher in April 2025. The latest mess may also be a sign of long-standing up-swing for the company institutional investors.

ATRION

Risk-Adjusted Performance

Very Weak

Over the last 90 days ATRION has generated negative risk-adjusted returns adding no value to investors with long positions. Despite fairly strong basic indicators, ATRION is not utilizing all of its potentials. The current stock price confusion, may contribute to short-horizon losses for the traders.

Pair Trading with JIN MEDICAL and ATRION

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

The idea behind JIN MEDICAL INTERNATIONAL and ATRION 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 Price Transformation module to use Price Transformation models to analyze the depth of different equity instruments across global markets.