Correlation Between JHS Svendgaard and Star Health

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Can any of the company-specific risk be diversified away by investing in both JHS Svendgaard and Star Health 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 JHS Svendgaard and Star Health into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between JHS Svendgaard Retail and Star Health and, you can compare the effects of market volatilities on JHS Svendgaard and Star Health 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 JHS Svendgaard with a short position of Star Health. Check out your portfolio center. Please also check ongoing floating volatility patterns of JHS Svendgaard and Star Health.

Diversification Opportunities for JHS Svendgaard and Star Health

-0.87
  Correlation Coefficient

Pay attention - limited upside

The 3 months correlation between JHS and Star is -0.87. Overlapping area represents the amount of risk that can be diversified away by holding JHS Svendgaard Retail and Star Health and in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Star Health and JHS Svendgaard 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 JHS Svendgaard Retail are associated (or correlated) with Star Health. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Star Health has no effect on the direction of JHS Svendgaard i.e., JHS Svendgaard and Star Health go up and down completely randomly.

Pair Corralation between JHS Svendgaard and Star Health

Assuming the 90 days trading horizon JHS Svendgaard Retail is expected to under-perform the Star Health. In addition to that, JHS Svendgaard is 2.17 times more volatile than Star Health and. It trades about -0.06 of its total potential returns per unit of risk. Star Health and is currently generating about 0.07 per unit of volatility. If you would invest  45,205  in Star Health and on September 3, 2025 and sell it today you would earn a total of  2,895  from holding Star Health and or generate 6.4% return on investment over 90 days.
Time Period3 Months [change]
DirectionMoves Against 
StrengthSignificant
Accuracy100.0%
ValuesDaily Returns

JHS Svendgaard Retail  vs.  Star Health and

 Performance 
       Timeline  
JHS Svendgaard Retail 

Risk-Adjusted Performance

Weakest

 
Weak
 
Strong
Over the last 90 days JHS Svendgaard Retail has generated negative risk-adjusted returns adding no value to investors with long positions. Despite fragile performance in the last few months, the Stock's basic indicators remain somewhat strong which may send shares a bit higher in January 2026. The current disturbance may also be a sign of long term up-swing for the company investors.
Star Health 

Risk-Adjusted Performance

Fair

 
Weak
 
Strong
Compared to the overall equity markets, risk-adjusted returns on investments in Star Health and are ranked lower than 5 (%) of all global equities and portfolios over the last 90 days. Despite somewhat unfluctuating essential indicators, Star Health may actually be approaching a critical reversion point that can send shares even higher in January 2026.

JHS Svendgaard and Star Health Volatility Contrast

   Predicted Return Density   
       Returns  

Pair Trading with JHS Svendgaard and Star Health

The main advantage of trading using opposite JHS Svendgaard and Star Health positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if JHS Svendgaard position performs unexpectedly, Star Health 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 Star Health will offset losses from the drop in Star Health's long position.
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The idea behind JHS Svendgaard Retail and Star Health and 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.
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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 Stocks Directory module to find actively traded stocks across global markets.

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