Correlation Between Sui and JasmyCoin

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

Diversification Opportunities for Sui and JasmyCoin

0.85
  Correlation Coefficient

Very poor diversification

The 3 months correlation between Sui and JasmyCoin is 0.85. Overlapping area represents the amount of risk that can be diversified away by holding Sui and JasmyCoin in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on JasmyCoin and Sui 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 Sui are associated (or correlated) with JasmyCoin. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of JasmyCoin has no effect on the direction of Sui i.e., Sui and JasmyCoin go up and down completely randomly.

Pair Corralation between Sui and JasmyCoin

Assuming the 90 days trading horizon Sui is expected to generate 1.03 times more return on investment than JasmyCoin. However, Sui is 1.03 times more volatile than JasmyCoin. It trades about 0.09 of its potential returns per unit of risk. JasmyCoin is currently generating about 0.02 per unit of risk. If you would invest  297.00  in Sui on April 22, 2025 and sell it today you would earn a total of  87.00  from holding Sui or generate 29.29% return on investment over 90 days.
Time Period3 Months [change]
DirectionMoves Together 
StrengthStrong
Accuracy100.0%
ValuesDaily Returns

Sui  vs.  JasmyCoin

 Performance 
       Timeline  
Sui 

Risk-Adjusted Performance

OK

 
Weak
 
Strong
Compared to the overall equity markets, risk-adjusted returns on investments in Sui are ranked lower than 7 (%) of all global equities and portfolios over the last 90 days. In spite of rather unsteady forward indicators, Sui exhibited solid returns over the last few months and may actually be approaching a breakup point.
JasmyCoin 

Risk-Adjusted Performance

Weak

 
Weak
 
Strong
Compared to the overall equity markets, risk-adjusted returns on investments in JasmyCoin are ranked lower than 1 (%) of all global equities and portfolios over the last 90 days. In spite of rather unsteady fundamental indicators, JasmyCoin may actually be approaching a critical reversion point that can send shares even higher in August 2025.

Sui and JasmyCoin Volatility Contrast

   Predicted Return Density   
       Returns  

Pair Trading with Sui and JasmyCoin

The main advantage of trading using opposite Sui and JasmyCoin positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Sui position performs unexpectedly, JasmyCoin 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 JasmyCoin will offset losses from the drop in JasmyCoin's long position.
The idea behind Sui and JasmyCoin 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 Financial Widgets module to easily integrated Macroaxis content with over 30 different plug-and-play financial widgets.

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