Correlation Between Air Lease and JLF INVESTMENT
Can any of the company-specific risk be diversified away by investing in both Air Lease and JLF INVESTMENT 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 Air Lease and JLF INVESTMENT into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Air Lease and JLF INVESTMENT, you can compare the effects of market volatilities on Air Lease and JLF INVESTMENT 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 JLF INVESTMENT. Check out your portfolio center. Please also check ongoing floating volatility patterns of Air Lease and JLF INVESTMENT.
Diversification Opportunities for Air Lease and JLF INVESTMENT
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Air and JLF is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Air Lease and JLF INVESTMENT in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on JLF INVESTMENT 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 JLF INVESTMENT. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of JLF INVESTMENT has no effect on the direction of Air Lease i.e., Air Lease and JLF INVESTMENT go up and down completely randomly.
Pair Corralation between Air Lease and JLF INVESTMENT
If you would invest 4,041 in Air Lease on September 20, 2024 and sell it today you would earn a total of 639.00 from holding Air Lease or generate 15.81% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Air Lease vs. JLF INVESTMENT
Performance |
| Timeline |
| Air Lease |
| JLF INVESTMENT |
Air Lease and JLF INVESTMENT Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Air Lease and JLF INVESTMENT
The main advantage of trading using opposite Air Lease and JLF INVESTMENT positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Air Lease position performs unexpectedly, JLF INVESTMENT 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 JLF INVESTMENT will offset losses from the drop in JLF INVESTMENT's long position.| Air Lease vs. United Rentals | Air Lease vs. Superior Plus Corp | Air Lease vs. SIVERS SEMICONDUCTORS AB | Air Lease vs. Norsk Hydro ASA |
| JLF INVESTMENT vs. Apple Inc | JLF INVESTMENT vs. Apple Inc | JLF INVESTMENT vs. Apple Inc | JLF INVESTMENT vs. Microsoft |
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 Anywhere module to track or share privately all of your investments from the convenience of any device.
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