Correlation Between Jupiter Fund and EPSILON HEALTHCARE
Can any of the company-specific risk be diversified away by investing in both Jupiter Fund and EPSILON HEALTHCARE 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 Jupiter Fund and EPSILON HEALTHCARE into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Jupiter Fund Management and EPSILON HEALTHCARE LTD, you can compare the effects of market volatilities on Jupiter Fund and EPSILON HEALTHCARE 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 Jupiter Fund with a short position of EPSILON HEALTHCARE. Check out your portfolio center. Please also check ongoing floating volatility patterns of Jupiter Fund and EPSILON HEALTHCARE.
Diversification Opportunities for Jupiter Fund and EPSILON HEALTHCARE
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Jupiter and EPSILON is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Jupiter Fund Management and EPSILON HEALTHCARE LTD in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on EPSILON HEALTHCARE LTD and Jupiter Fund 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 Jupiter Fund Management are associated (or correlated) with EPSILON HEALTHCARE. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of EPSILON HEALTHCARE LTD has no effect on the direction of Jupiter Fund i.e., Jupiter Fund and EPSILON HEALTHCARE go up and down completely randomly.
Pair Corralation between Jupiter Fund and EPSILON HEALTHCARE
If you would invest 102.00 in Jupiter Fund Management on October 12, 2024 and sell it today you would earn a total of 5.00 from holding Jupiter Fund Management or generate 4.9% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 94.12% |
| Values | Daily Returns |
Jupiter Fund Management vs. EPSILON HEALTHCARE LTD
Performance |
| Timeline |
| Jupiter Fund Management |
| EPSILON HEALTHCARE LTD |
Jupiter Fund and EPSILON HEALTHCARE Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Jupiter Fund and EPSILON HEALTHCARE
The main advantage of trading using opposite Jupiter Fund and EPSILON HEALTHCARE positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Jupiter Fund position performs unexpectedly, EPSILON HEALTHCARE 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 EPSILON HEALTHCARE will offset losses from the drop in EPSILON HEALTHCARE's long position.| Jupiter Fund vs. Zoom Video Communications | Jupiter Fund vs. Firan Technology Group | Jupiter Fund vs. Casio Computer CoLtd | Jupiter Fund vs. Easy Software AG |
| EPSILON HEALTHCARE vs. Computershare Limited | EPSILON HEALTHCARE vs. Cogent Communications Holdings | EPSILON HEALTHCARE vs. URBAN OUTFITTERS | EPSILON HEALTHCARE vs. COMPUTERSHARE |
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 Insider Screener module to find insiders across different sectors to evaluate their impact on performance.
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