Correlation Between Jupiter Fund and TRADEDOUBLER
Can any of the company-specific risk be diversified away by investing in both Jupiter Fund and TRADEDOUBLER 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 TRADEDOUBLER 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 TRADEDOUBLER AB SK, you can compare the effects of market volatilities on Jupiter Fund and TRADEDOUBLER 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 TRADEDOUBLER. Check out your portfolio center. Please also check ongoing floating volatility patterns of Jupiter Fund and TRADEDOUBLER.
Diversification Opportunities for Jupiter Fund and TRADEDOUBLER
-0.53 | Correlation Coefficient |
Excellent diversification
The 3 months correlation between Jupiter and TRADEDOUBLER is -0.53. Overlapping area represents the amount of risk that can be diversified away by holding Jupiter Fund Management and TRADEDOUBLER AB SK in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on TRADEDOUBLER AB SK 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 TRADEDOUBLER. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of TRADEDOUBLER AB SK has no effect on the direction of Jupiter Fund i.e., Jupiter Fund and TRADEDOUBLER go up and down completely randomly.
Pair Corralation between Jupiter Fund and TRADEDOUBLER
Assuming the 90 days horizon Jupiter Fund Management is expected to under-perform the TRADEDOUBLER. In addition to that, Jupiter Fund is 1.13 times more volatile than TRADEDOUBLER AB SK. It trades about -0.07 of its total potential returns per unit of risk. TRADEDOUBLER AB SK is currently generating about 0.3 per unit of volatility. If you would invest 48.00 in TRADEDOUBLER AB SK on January 20, 2025 and sell it today you would earn a total of 9.00 from holding TRADEDOUBLER AB SK or generate 18.75% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Jupiter Fund Management vs. TRADEDOUBLER AB SK
Performance |
| Timeline |
| Jupiter Fund Management |
| TRADEDOUBLER AB SK |
Jupiter Fund and TRADEDOUBLER Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Jupiter Fund and TRADEDOUBLER
The main advantage of trading using opposite Jupiter Fund and TRADEDOUBLER positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Jupiter Fund position performs unexpectedly, TRADEDOUBLER 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 TRADEDOUBLER will offset losses from the drop in TRADEDOUBLER's long position.| Jupiter Fund vs. Endeavour Mining PLC | Jupiter Fund vs. MAG SILVER | Jupiter Fund vs. Carsales | Jupiter Fund vs. Salesforce |
| TRADEDOUBLER vs. Publicis Groupe SA | TRADEDOUBLER vs. Omnicom Group | TRADEDOUBLER vs. The Interpublic Group | TRADEDOUBLER vs. WPP PLC |
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 Sectors module to list of equity sectors categorizing publicly traded companies based on their primary business activities.
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