Correlation Between Impact ISR and JPMIF Bond
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By analyzing existing cross correlation between Impact ISR Performance and JPMIF Bond Fund, you can compare the effects of market volatilities on Impact ISR 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 Impact ISR with a short position of JPMIF Bond. Check out your portfolio center. Please also check ongoing floating volatility patterns of Impact ISR and JPMIF Bond.
Diversification Opportunities for Impact ISR and JPMIF Bond
-0.66 | Correlation Coefficient |
Excellent diversification
The 3 months correlation between Impact and JPMIF is -0.66. Overlapping area represents the amount of risk that can be diversified away by holding Impact ISR Performance 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 Impact ISR 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 Impact ISR Performance 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 Impact ISR i.e., Impact ISR and JPMIF Bond go up and down completely randomly.
Pair Corralation between Impact ISR and JPMIF Bond
Assuming the 90 days trading horizon Impact ISR is expected to generate 1.24 times less return on investment than JPMIF Bond. In addition to that, Impact ISR is 1.84 times more volatile than JPMIF Bond Fund. It trades about 0.04 of its total potential returns per unit of risk. JPMIF Bond Fund is currently generating about 0.08 per unit of volatility. If you would invest 21,535 in JPMIF Bond Fund on August 29, 2024 and sell it today you would earn a total of 1,422 from holding JPMIF Bond Fund or generate 6.6% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Weak |
| Accuracy | 39.68% |
| Values | Daily Returns |
Impact ISR Performance vs. JPMIF Bond Fund
Performance |
| Timeline |
| Impact ISR Performance |
| JPMIF Bond Fund |
Impact ISR and JPMIF Bond Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Impact ISR and JPMIF Bond
The main advantage of trading using opposite Impact ISR and JPMIF Bond positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Impact ISR 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.| Impact ISR vs. JPMIF Bond Fund | Impact ISR vs. Amundi Label Actions | Impact ISR vs. CM AM Monplus NE | Impact ISR vs. R co Valor F |
| 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 ETFs module to find actively traded Exchange Traded Funds (ETF) from around the world.
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