Correlation Between Xenia Hotels and JLF INVESTMENT
Can any of the company-specific risk be diversified away by investing in both Xenia Hotels and JLF INVESTMENT 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 Xenia Hotels and JLF INVESTMENT into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Xenia Hotels Resorts and JLF INVESTMENT, you can compare the effects of market volatilities on Xenia Hotels and JLF INVESTMENT 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 Xenia Hotels with a short position of JLF INVESTMENT. Check out your portfolio center. Please also check ongoing floating volatility patterns of Xenia Hotels and JLF INVESTMENT.
Diversification Opportunities for Xenia Hotels and JLF INVESTMENT
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Xenia and JLF is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Xenia Hotels Resorts and JLF INVESTMENT in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on JLF INVESTMENT and Xenia Hotels 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 Xenia Hotels Resorts are associated (or correlated) with JLF INVESTMENT. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of JLF INVESTMENT has no effect on the direction of Xenia Hotels i.e., Xenia Hotels and JLF INVESTMENT go up and down completely randomly.
Pair Corralation between Xenia Hotels and JLF INVESTMENT
If you would invest 1,410 in Xenia Hotels Resorts on November 6, 2024 and sell it today you would earn a total of 20.00 from holding Xenia Hotels Resorts or generate 1.42% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Xenia Hotels Resorts vs. JLF INVESTMENT
Performance |
| Timeline |
| Xenia Hotels Resorts |
| JLF INVESTMENT |
Xenia Hotels and JLF INVESTMENT Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Xenia Hotels and JLF INVESTMENT
The main advantage of trading using opposite Xenia Hotels and JLF INVESTMENT positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Xenia Hotels position performs unexpectedly, JLF INVESTMENT 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 JLF INVESTMENT will offset losses from the drop in JLF INVESTMENT's long position.| Xenia Hotels vs. Host Hotels Resorts | Xenia Hotels vs. Park Hotels Resorts | Xenia Hotels vs. Pebblebrook Hotel Trust | Xenia Hotels vs. Sunstone Hotel Investors |
| JLF INVESTMENT vs. KENEDIX OFFICE INV | JLF INVESTMENT vs. Corporate Office Properties | JLF INVESTMENT vs. SBI Insurance Group | JLF INVESTMENT vs. VITEC SOFTWARE GROUP |
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 Portfolio Suggestion module to get suggestions outside of your existing asset allocation including your own model portfolios.
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