Correlation Between Jb Financial and Ubiquoss Holdings
Can any of the company-specific risk be diversified away by investing in both Jb Financial and Ubiquoss Holdings 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 Jb Financial and Ubiquoss Holdings into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Jb Financial and Ubiquoss Holdings, you can compare the effects of market volatilities on Jb Financial and Ubiquoss Holdings 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 Jb Financial with a short position of Ubiquoss Holdings. Check out your portfolio center. Please also check ongoing floating volatility patterns of Jb Financial and Ubiquoss Holdings.
Diversification Opportunities for Jb Financial and Ubiquoss Holdings
-0.82 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between 175330 and Ubiquoss is -0.82. Overlapping area represents the amount of risk that can be diversified away by holding Jb Financial and Ubiquoss Holdings in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Ubiquoss Holdings and Jb Financial 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 Jb Financial are associated (or correlated) with Ubiquoss Holdings. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Ubiquoss Holdings has no effect on the direction of Jb Financial i.e., Jb Financial and Ubiquoss Holdings go up and down completely randomly.
Pair Corralation between Jb Financial and Ubiquoss Holdings
Assuming the 90 days trading horizon Jb Financial is expected to generate 2.15 times more return on investment than Ubiquoss Holdings. However, Jb Financial is 2.15 times more volatile than Ubiquoss Holdings. It trades about 0.15 of its potential returns per unit of risk. Ubiquoss Holdings is currently generating about -0.11 per unit of risk. If you would invest 966,032 in Jb Financial on September 4, 2024 and sell it today you would earn a total of 977,968 from holding Jb Financial or generate 101.24% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Significant |
| Accuracy | 99.58% |
| Values | Daily Returns |
Jb Financial vs. Ubiquoss Holdings
Performance |
| Timeline |
| Jb Financial |
| Ubiquoss Holdings |
Jb Financial and Ubiquoss Holdings Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Jb Financial and Ubiquoss Holdings
The main advantage of trading using opposite Jb Financial and Ubiquoss Holdings positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Jb Financial position performs unexpectedly, Ubiquoss Holdings 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 Ubiquoss Holdings will offset losses from the drop in Ubiquoss Holdings' long position.| Jb Financial vs. Sung Bo Chemicals | Jb Financial vs. Daejung Chemicals Metals | Jb Financial vs. SM Entertainment Co | Jb Financial vs. LG Chemicals |
| Ubiquoss Holdings vs. Cuckoo Homesys Co | Ubiquoss Holdings vs. MetaLabs Co | Ubiquoss Holdings vs. LB Investment | Ubiquoss Holdings vs. Seoyon Topmetal Co |
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 Aroon Oscillator module to analyze current equity momentum using Aroon Oscillator and other momentum ratios.
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