Correlation Between Swedbank Robur and JPMIF Bond
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By analyzing existing cross correlation between Swedbank Robur Corporate and JPMIF Bond Fund, you can compare the effects of market volatilities on Swedbank Robur 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 Swedbank Robur with a short position of JPMIF Bond. Check out your portfolio center. Please also check ongoing floating volatility patterns of Swedbank Robur and JPMIF Bond.
Diversification Opportunities for Swedbank Robur and JPMIF Bond
0.85 | Correlation Coefficient |
Very poor diversification
The 3 months correlation between Swedbank and JPMIF is 0.85. Overlapping area represents the amount of risk that can be diversified away by holding Swedbank Robur Corporate 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 Swedbank Robur 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 Swedbank Robur Corporate 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 Swedbank Robur i.e., Swedbank Robur and JPMIF Bond go up and down completely randomly.
Pair Corralation between Swedbank Robur and JPMIF Bond
Assuming the 90 days trading horizon Swedbank Robur is expected to generate 1.27 times less return on investment than JPMIF Bond. But when comparing it to its historical volatility, Swedbank Robur Corporate is 3.76 times less risky than JPMIF Bond. It trades about 0.58 of its potential returns per unit of risk. JPMIF Bond Fund is currently generating about 0.2 of returns per unit of risk over similar time horizon. If you would invest 22,640 in JPMIF Bond Fund on September 14, 2024 and sell it today you would earn a total of 441.00 from holding JPMIF Bond Fund or generate 1.95% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Strong |
| Accuracy | 100.0% |
| Values | Daily Returns |
Swedbank Robur Corporate vs. JPMIF Bond Fund
Performance |
| Timeline |
| Swedbank Robur Corporate |
| JPMIF Bond Fund |
Swedbank Robur and JPMIF Bond Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Swedbank Robur and JPMIF Bond
The main advantage of trading using opposite Swedbank Robur and JPMIF Bond positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Swedbank Robur 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.| Swedbank Robur vs. Groupama Entreprises N | Swedbank Robur vs. Renaissance Europe C | Swedbank Robur vs. Superior Plus Corp | Swedbank Robur vs. Origin Agritech |
| JPMIF Bond vs. UBS Money Market | JPMIF Bond vs. Swedbank Robur Corporate | JPMIF Bond vs. BBVA Telecomunicaciones PP | JPMIF Bond vs. Caixabank Seleccin Tendencias |
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 Risk-Return Analysis module to view associations between returns expected from investment and the risk you assume.
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