Correlation Between Jiayuan International and Genpact
Can any of the company-specific risk be diversified away by investing in both Jiayuan International and Genpact 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 Jiayuan International and Genpact into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Jiayuan International and Genpact Limited, you can compare the effects of market volatilities on Jiayuan International and Genpact 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 Jiayuan International with a short position of Genpact. Check out your portfolio center. Please also check ongoing floating volatility patterns of Jiayuan International and Genpact.
Diversification Opportunities for Jiayuan International and Genpact
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Jiayuan and Genpact is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Jiayuan International and Genpact Limited in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Genpact Limited and Jiayuan International 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 Jiayuan International are associated (or correlated) with Genpact. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Genpact Limited has no effect on the direction of Jiayuan International i.e., Jiayuan International and Genpact go up and down completely randomly.
Pair Corralation between Jiayuan International and Genpact
If you would invest (100.00) in Jiayuan International on January 20, 2024 and sell it today you would earn a total of 100.00 from holding Jiayuan International 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 |
Jiayuan International vs. Genpact Limited
Performance |
| Timeline |
| Jiayuan International |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
| Genpact Limited |
Jiayuan International and Genpact Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Jiayuan International and Genpact
The main advantage of trading using opposite Jiayuan International and Genpact positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Jiayuan International position performs unexpectedly, Genpact 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 Genpact will offset losses from the drop in Genpact's long position.| Jiayuan International vs. Mondee Holdings | Jiayuan International vs. 51Talk Online Education | Jiayuan International vs. Portland General Electric | Jiayuan International vs. NRG Energy |
| Genpact vs. ASGN Inc | Genpact vs. CACI International | Genpact vs. Perficient | Genpact vs. Science Applications International |
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 Theme Ratings module to determine theme ratings based on digital equity recommendations. Macroaxis theme ratings are based on combination of fundamental analysis and risk-adjusted market performance.
Other Complementary Tools
| Portfolio Volatility Check portfolio volatility and analyze historical return density to properly model market risk | |
| Investing Opportunities Build portfolios using our predefined set of ideas and optimize them against your investing preferences | |
| Portfolio Rebalancing Analyze risk-adjusted returns against different time horizons to find asset-allocation targets | |
| ETFs Find actively traded Exchange Traded Funds (ETF) from around the world | |
| Bonds Directory Find actively traded corporate debentures issued by US companies | |
| Stock Tickers Use high-impact, comprehensive, and customizable stock tickers that can be easily integrated to any websites | |
| Cryptocurrency Center Build and monitor diversified portfolio of extremely risky digital assets and cryptocurrency |