Correlation Between Jiayin and Getty Images

Can any of the company-specific risk be diversified away by investing in both Jiayin and Getty Images 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 Jiayin and Getty Images into the same portfolio, which is an essential part of the fundamental portfolio management process.

By analyzing existing cross correlation between Jiayin Group and Getty Images Holdings, you can compare the effects of market volatilities on Jiayin and Getty Images 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 Jiayin with a short position of Getty Images. Check out your portfolio center. Please also check ongoing floating volatility patterns of Jiayin and Getty Images.

Diversification Opportunities for Jiayin and Getty Images

-0.4

Correlation Coefficient

Jiayin  Getty Images

Very good diversification

The 3 months correlation between Jiayin and Getty is -0.4. Overlapping area represents the amount of risk that can be diversified away by holding Jiayin Group and Getty Images Holdings in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Getty Images Holdings and Jiayin 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 Jiayin Group are associated (or correlated) with Getty Images. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Getty Images Holdings has no effect on the direction of Jiayin i.e., Jiayin and Getty Images go up and down completely randomly.

Pair Corralation between Jiayin and Getty Images

Given the investment horizon of 90 days Jiayin Group is expected to generate 0.99 times more return on investment than Getty Images. However, Jiayin Group is 1.01 times less risky than Getty Images. It trades about 0.06 of its potential returns per unit of risk. Getty Images Holdings is currently generating about -0.05 per unit of risk. If you would invest  1,187  in Jiayin Group on May 5, 2025 and sell it today you would earn a total of  121.00  from holding Jiayin Group or generate 10.19% return on investment over 90 days.

Time Period	3 Months [change]
Direction	Moves Against
Strength	Very Weak
Accuracy	100.0%
Values	Daily Returns

Jiayin Group  vs.  Getty Images Holdings

Jiayin Group

Risk-Adjusted Performance

Insignificant

Compared to the overall equity markets, risk-adjusted returns on investments in Jiayin Group are ranked lower than 4 (%) of all global equities and portfolios over the last 90 days. In spite of very fragile forward indicators, Jiayin displayed solid returns over the last few months and may actually be approaching a breakup point.

Getty Images Holdings

Risk-Adjusted Performance

Very Weak

Over the last 90 days Getty Images Holdings has generated negative risk-adjusted returns adding no value to investors with long positions. In spite of latest weak performance, the Stock's basic indicators remain strong and the current disturbance on Wall Street may also be a sign of long term gains for the company investors.

Pair Trading with Jiayin and Getty Images

The main advantage of trading using opposite Jiayin and Getty Images positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Jiayin position performs unexpectedly, Getty Images 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 Getty Images will offset losses from the drop in Getty Images' long position.

The idea behind Jiayin Group and Getty Images Holdings 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 Equity Analysis module to research over 250,000 global equities including funds, stocks and ETFs to find investment opportunities.