Correlation Between J JILL and FAST RETAILCOSPHDR
Can any of the company-specific risk be diversified away by investing in both J JILL and FAST RETAILCOSPHDR 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 FAST RETAILCOSPHDR 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 FAST RETAILCOSPHDR 1, you can compare the effects of market volatilities on J JILL and FAST RETAILCOSPHDR 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 FAST RETAILCOSPHDR. Check out your portfolio center. Please also check ongoing floating volatility patterns of J JILL and FAST RETAILCOSPHDR.
Diversification Opportunities for J JILL and FAST RETAILCOSPHDR
-0.32 | Correlation Coefficient |
Very good diversification
The 3 months correlation between 1MJ1 and FAST is -0.32. Overlapping area represents the amount of risk that can be diversified away by holding J JILL INC and FAST RETAILCOSPHDR 1 in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on FAST RETAILCOSPHDR 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 FAST RETAILCOSPHDR. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of FAST RETAILCOSPHDR has no effect on the direction of J JILL i.e., J JILL and FAST RETAILCOSPHDR go up and down completely randomly.
Pair Corralation between J JILL and FAST RETAILCOSPHDR
If you would invest 2,240 in J JILL INC on August 25, 2024 and sell it today you would earn a total of 60.00 from holding J JILL INC or generate 2.68% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 0.0% |
| Values | Daily Returns |
J JILL INC vs. FAST RETAILCOSPHDR 1
Performance |
| Timeline |
| J JILL INC |
| FAST RETAILCOSPHDR |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Insignificant
J JILL and FAST RETAILCOSPHDR Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with J JILL and FAST RETAILCOSPHDR
The main advantage of trading using opposite J JILL and FAST RETAILCOSPHDR positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if J JILL position performs unexpectedly, FAST RETAILCOSPHDR 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 FAST RETAILCOSPHDR will offset losses from the drop in FAST RETAILCOSPHDR's long position.| J JILL vs. Transport International Holdings | J JILL vs. Geratherm Medical AG | J JILL vs. SPORT LISBOA E | J JILL vs. IMAGIN MEDICAL INC |
| FAST RETAILCOSPHDR vs. Coor Service Management | FAST RETAILCOSPHDR vs. Jupiter Fund Management | FAST RETAILCOSPHDR vs. Alaska Air Group | FAST RETAILCOSPHDR vs. Ares Management Corp |
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 FinTech Suite module to use AI to screen and filter profitable investment opportunities.
Other Complementary Tools
| My Watchlist Analysis Analyze my current watchlist and to refresh optimization strategy. Macroaxis watchlist is based on self-learning algorithm to remember stocks you like | |
| Commodity Directory Find actively traded commodities issued by global exchanges | |
| Portfolio Holdings Check your current holdings and cash postion to detemine if your portfolio needs rebalancing | |
| Content Syndication Quickly integrate customizable finance content to your own investment portal | |
| Headlines Timeline Stay connected to all market stories and filter out noise. Drill down to analyze hype elasticity |