Correlation Between J JILL and Superior Plus
Can any of the company-specific risk be diversified away by investing in both J JILL and Superior Plus 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 J JILL and Superior Plus into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between J JILL INC and Superior Plus Corp, you can compare the effects of market volatilities on J JILL and Superior Plus 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 J JILL with a short position of Superior Plus. Check out your portfolio center. Please also check ongoing floating volatility patterns of J JILL and Superior Plus.
Diversification Opportunities for J JILL and Superior Plus
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between 1MJ1 and Superior is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding J JILL INC and Superior Plus Corp in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Superior Plus Corp and J JILL 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 J JILL INC are associated (or correlated) with Superior Plus. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Superior Plus Corp has no effect on the direction of J JILL i.e., J JILL and Superior Plus go up and down completely randomly.
Pair Corralation between J JILL and Superior Plus
If you would invest 0.00 in J JILL INC on August 28, 2024 and sell it today you would earn a total of 0.00 from holding J JILL INC or generate 0.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 4.76% |
| Values | Daily Returns |
J JILL INC vs. Superior Plus Corp
Performance |
| Timeline |
| J JILL INC |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
| Superior Plus Corp |
J JILL and Superior Plus Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with J JILL and Superior Plus
The main advantage of trading using opposite J JILL and Superior Plus positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if J JILL position performs unexpectedly, Superior Plus 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 Superior Plus will offset losses from the drop in Superior Plus' long position.| J JILL vs. RETAIL FOOD GROUP | J JILL vs. Auto Trader Group | J JILL vs. AUTO TRADER ADR | J JILL vs. Canadian Utilities Limited |
| Superior Plus vs. Canon Marketing Japan | Superior Plus vs. CANON MARKETING JP | Superior Plus vs. KRISPY KREME DL 01 | Superior Plus vs. SIDETRADE EO 1 |
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 Premium Stories module to follow Macroaxis premium stories from verified contributors across different equity types, categories and coverage scope.
Other Complementary Tools
| Premium Stories Follow Macroaxis premium stories from verified contributors across different equity types, categories and coverage scope | |
| Bonds Directory Find actively traded corporate debentures issued by US companies | |
| Equity Analysis Research over 250,000 global equities including funds, stocks and ETFs to find investment opportunities | |
| Portfolio Suggestion Get suggestions outside of your existing asset allocation including your own model portfolios | |
| Odds Of Bankruptcy Get analysis of equity chance of financial distress in the next 2 years |