Correlation Between IE00B0H4TS55 and JPMIF Bond
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By analyzing existing cross correlation between IE00B0H4TS55 and JPMIF Bond Fund, you can compare the effects of market volatilities on IE00B0H4TS55 and JPMIF Bond 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 IE00B0H4TS55 with a short position of JPMIF Bond. Check out your portfolio center. Please also check ongoing floating volatility patterns of IE00B0H4TS55 and JPMIF Bond.
Diversification Opportunities for IE00B0H4TS55 and JPMIF Bond
-0.38 | Correlation Coefficient |
Very good diversification
The 3 months correlation between IE00B0H4TS55 and JPMIF is -0.38. Overlapping area represents the amount of risk that can be diversified away by holding IE00B0H4TS55 and JPMIF Bond Fund in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on JPMIF Bond Fund and IE00B0H4TS55 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 IE00B0H4TS55 are associated (or correlated) with JPMIF Bond. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of JPMIF Bond Fund has no effect on the direction of IE00B0H4TS55 i.e., IE00B0H4TS55 and JPMIF Bond go up and down completely randomly.
Pair Corralation between IE00B0H4TS55 and JPMIF Bond
Assuming the 90 days trading horizon IE00B0H4TS55 is expected to generate 16.22 times less return on investment than JPMIF Bond. But when comparing it to its historical volatility, IE00B0H4TS55 is 2.19 times less risky than JPMIF Bond. It trades about 0.03 of its potential returns per unit of risk. JPMIF Bond Fund is currently generating about 0.25 of returns per unit of risk over similar time horizon. If you would invest 22,316 in JPMIF Bond Fund on August 29, 2024 and sell it today you would earn a total of 669.00 from holding JPMIF Bond Fund or generate 3.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
IE00B0H4TS55 vs. JPMIF Bond Fund
Performance |
| Timeline |
| IE00B0H4TS55 |
| JPMIF Bond Fund |
IE00B0H4TS55 and JPMIF Bond Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with IE00B0H4TS55 and JPMIF Bond
The main advantage of trading using opposite IE00B0H4TS55 and JPMIF Bond positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if IE00B0H4TS55 position performs unexpectedly, JPMIF Bond 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 JPMIF Bond will offset losses from the drop in JPMIF Bond's long position.| IE00B0H4TS55 vs. Esfera Robotics R | IE00B0H4TS55 vs. R co Valor F | IE00B0H4TS55 vs. CM AM Monplus NE | IE00B0H4TS55 vs. Echiquier Entrepreneurs G |
| JPMIF Bond vs. Esfera Robotics R | JPMIF Bond vs. R co Valor F | JPMIF Bond vs. CM AM Monplus NE | JPMIF Bond vs. IE00B0H4TS55 |
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 Performance Analysis module to check effects of mean-variance optimization against your current asset allocation.
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