Correlation Between Air Lease and JEFFERIES
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By analyzing existing cross correlation between Air Lease and JEFFERIES GROUP LLC, you can compare the effects of market volatilities on Air Lease and JEFFERIES 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 Air Lease with a short position of JEFFERIES. Check out your portfolio center. Please also check ongoing floating volatility patterns of Air Lease and JEFFERIES.
Diversification Opportunities for Air Lease and JEFFERIES
Very good diversification
The 3 months correlation between Air and JEFFERIES is -0.26. Overlapping area represents the amount of risk that can be diversified away by holding Air Lease and JEFFERIES GROUP LLC in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on JEFFERIES GROUP LLC and Air Lease 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 Air Lease are associated (or correlated) with JEFFERIES. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of JEFFERIES GROUP LLC has no effect on the direction of Air Lease i.e., Air Lease and JEFFERIES go up and down completely randomly.
Pair Corralation between Air Lease and JEFFERIES
Allowing for the 90-day total investment horizon Air Lease is expected to generate 2.26 times more return on investment than JEFFERIES. However, Air Lease is 2.26 times more volatile than JEFFERIES GROUP LLC. It trades about 0.02 of its potential returns per unit of risk. JEFFERIES GROUP LLC is currently generating about 0.02 per unit of risk. If you would invest 4,166 in Air Lease on October 7, 2024 and sell it today you would earn a total of 612.00 from holding Air Lease or generate 14.69% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 98.99% |
| Values | Daily Returns |
Air Lease vs. JEFFERIES GROUP LLC
Performance |
| Timeline |
| Air Lease |
| JEFFERIES GROUP LLC |
Air Lease and JEFFERIES Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Air Lease and JEFFERIES
The main advantage of trading using opposite Air Lease and JEFFERIES positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Air Lease position performs unexpectedly, JEFFERIES 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 JEFFERIES will offset losses from the drop in JEFFERIES's long position.| Air Lease vs. Alta Equipment Group | Air Lease vs. McGrath RentCorp | Air Lease vs. Herc Holdings | Air Lease vs. HE Equipment Services |
| JEFFERIES vs. ASE Industrial Holding | JEFFERIES vs. Allegion PLC | JEFFERIES vs. Western Acquisition Ventures | JEFFERIES vs. Perseus Mining Limited |
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 CEOs Directory module to screen CEOs from public companies around the world.
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