Correlation Between CCC SA and J JILL
Can any of the company-specific risk be diversified away by investing in both CCC SA and J JILL 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 CCC SA and J JILL into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between CCC SA and J JILL INC, you can compare the effects of market volatilities on CCC SA and J JILL 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 CCC SA with a short position of J JILL. Check out your portfolio center. Please also check ongoing floating volatility patterns of CCC SA and J JILL.
Diversification Opportunities for CCC SA and J JILL
Significant diversification
The 3 months correlation between CCC and 1MJ1 is 0.01. Overlapping area represents the amount of risk that can be diversified away by holding CCC SA and J JILL INC in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on J JILL INC and CCC SA 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 CCC SA are associated (or correlated) with J JILL. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of J JILL INC has no effect on the direction of CCC SA i.e., CCC SA and J JILL go up and down completely randomly.
Pair Corralation between CCC SA and J JILL
Assuming the 90 days horizon CCC SA is expected to generate 1.08 times more return on investment than J JILL. However, CCC SA is 1.08 times more volatile than J JILL INC. It trades about 0.13 of its potential returns per unit of risk. J JILL INC is currently generating about 0.01 per unit of risk. If you would invest 738.00 in CCC SA on November 19, 2024 and sell it today you would earn a total of 4,112 from holding CCC SA or generate 557.18% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
CCC SA vs. J JILL INC
Performance |
| Timeline |
| CCC SA |
| J JILL INC |
CCC SA and J JILL Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with CCC SA and J JILL
The main advantage of trading using opposite CCC SA and J JILL positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if CCC SA position performs unexpectedly, J JILL 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 J JILL will offset losses from the drop in J JILL's long position.| CCC SA vs. FAST RETAILCOSPHDR 1 | CCC SA vs. FAST RETAIL ADR | CCC SA vs. Ross Stores | CCC SA vs. Designer Brands |
| J JILL vs. Corsair Gaming | J JILL vs. GUARDANT HEALTH CL | J JILL vs. UNIDOC HEALTH P | J JILL vs. DELTA AIR LINES |
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 Portfolio Diagnostics module to use generated alerts and portfolio events aggregator to diagnose current holdings.
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