Correlation Between Capri Holdings and JIADE LIMITED
Can any of the company-specific risk be diversified away by investing in both Capri Holdings and JIADE LIMITED 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 Capri Holdings and JIADE LIMITED into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Capri Holdings and JIADE LIMITED Common, you can compare the effects of market volatilities on Capri Holdings and JIADE LIMITED 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 Capri Holdings with a short position of JIADE LIMITED. Check out your portfolio center. Please also check ongoing floating volatility patterns of Capri Holdings and JIADE LIMITED.
Diversification Opportunities for Capri Holdings and JIADE LIMITED
-0.42 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Capri and JIADE is -0.42. Overlapping area represents the amount of risk that can be diversified away by holding Capri Holdings and JIADE LIMITED Common in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on JIADE LIMITED Common and Capri Holdings 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 Capri Holdings are associated (or correlated) with JIADE LIMITED. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of JIADE LIMITED Common has no effect on the direction of Capri Holdings i.e., Capri Holdings and JIADE LIMITED go up and down completely randomly.
Pair Corralation between Capri Holdings and JIADE LIMITED
Given the investment horizon of 90 days Capri Holdings is expected to generate 0.4 times more return on investment than JIADE LIMITED. However, Capri Holdings is 2.51 times less risky than JIADE LIMITED. It trades about 0.08 of its potential returns per unit of risk. JIADE LIMITED Common is currently generating about -0.1 per unit of risk. If you would invest 1,772 in Capri Holdings on June 3, 2025 and sell it today you would earn a total of 287.00 from holding Capri Holdings or generate 16.2% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Capri Holdings vs. JIADE LIMITED Common
Performance |
| Timeline |
| Capri Holdings |
| JIADE LIMITED Common |
Capri Holdings and JIADE LIMITED Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Capri Holdings and JIADE LIMITED
The main advantage of trading using opposite Capri Holdings and JIADE LIMITED positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Capri Holdings position performs unexpectedly, JIADE LIMITED 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 JIADE LIMITED will offset losses from the drop in JIADE LIMITED's long position.| Capri Holdings vs. Tapestry | Capri Holdings vs. Signet Jewelers | Capri Holdings vs. Movado Group | Capri Holdings vs. Lanvin Group Holdings |
| JIADE LIMITED vs. Golden Sun Education | JIADE LIMITED vs. Wah Fu Education | JIADE LIMITED vs. QuantaSing Group Limited | JIADE LIMITED vs. Genius Group |
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 Premium Stories module to follow Macroaxis premium stories from verified contributors across different equity types, categories and coverage scope.
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