Correlation Between Hefei Jianghang and Parsons Corp
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By analyzing existing cross correlation between Hefei Jianghang Aircraft and Parsons Corp, you can compare the effects of market volatilities on Hefei Jianghang and Parsons Corp 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 Hefei Jianghang with a short position of Parsons Corp. Check out your portfolio center. Please also check ongoing floating volatility patterns of Hefei Jianghang and Parsons Corp.
Diversification Opportunities for Hefei Jianghang and Parsons Corp
-0.61 | Correlation Coefficient |
Excellent diversification
The 3 months correlation between Hefei and Parsons is -0.61. Overlapping area represents the amount of risk that can be diversified away by holding Hefei Jianghang Aircraft and Parsons Corp in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Parsons Corp and Hefei Jianghang 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 Hefei Jianghang Aircraft are associated (or correlated) with Parsons Corp. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Parsons Corp has no effect on the direction of Hefei Jianghang i.e., Hefei Jianghang and Parsons Corp go up and down completely randomly.
Pair Corralation between Hefei Jianghang and Parsons Corp
Assuming the 90 days trading horizon Hefei Jianghang Aircraft is expected to generate 0.46 times more return on investment than Parsons Corp. However, Hefei Jianghang Aircraft is 2.17 times less risky than Parsons Corp. It trades about 0.12 of its potential returns per unit of risk. Parsons Corp is currently generating about -0.04 per unit of risk. If you would invest 1,079 in Hefei Jianghang Aircraft on September 10, 2025 and sell it today you would earn a total of 115.00 from holding Hefei Jianghang Aircraft or generate 10.66% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Weak |
| Accuracy | 92.19% |
| Values | Daily Returns |
Hefei Jianghang Aircraft vs. Parsons Corp
Performance |
| Timeline |
| Hefei Jianghang Aircraft |
| Parsons Corp |
Hefei Jianghang and Parsons Corp Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Hefei Jianghang and Parsons Corp
The main advantage of trading using opposite Hefei Jianghang and Parsons Corp positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Hefei Jianghang position performs unexpectedly, Parsons Corp 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 Parsons Corp will offset losses from the drop in Parsons Corp's long position.| Hefei Jianghang vs. Jinling Hotel Corp | Hefei Jianghang vs. Shenwu Energy Saving | Hefei Jianghang vs. Huawen Media Investment | Hefei Jianghang vs. Huatian Hotel Group |
| Parsons Corp vs. Regal Beloit | Parsons Corp vs. Watts Water Technologies | Parsons Corp vs. Generac Holdings | Parsons Corp vs. Flowserve |
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 Insider Screener module to find insiders across different sectors to evaluate their impact on performance.
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