Correlation Between Cboe UK and JPM AC
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By analyzing existing cross correlation between Cboe UK Consumer and JPM AC Asia, you can compare the effects of market volatilities on Cboe UK and JPM AC 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 Cboe UK with a short position of JPM AC. Check out your portfolio center. Please also check ongoing floating volatility patterns of Cboe UK and JPM AC.
Diversification Opportunities for Cboe UK and JPM AC
Very weak diversification
The 3 months correlation between Cboe and JPM is 0.41. Overlapping area represents the amount of risk that can be diversified away by holding Cboe UK Consumer and JPM AC Asia in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on JPM AC Asia and Cboe UK 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 Cboe UK Consumer are associated (or correlated) with JPM AC. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of JPM AC Asia has no effect on the direction of Cboe UK i.e., Cboe UK and JPM AC go up and down completely randomly.
Pair Corralation between Cboe UK and JPM AC
Assuming the 90 days trading horizon Cboe UK Consumer is expected to generate 1.23 times more return on investment than JPM AC. However, Cboe UK is 1.23 times more volatile than JPM AC Asia. It trades about 0.46 of its potential returns per unit of risk. JPM AC Asia is currently generating about -0.05 per unit of risk. If you would invest 2,971,067 in Cboe UK Consumer on September 2, 2024 and sell it today you would earn a total of 289,235 from holding Cboe UK Consumer or generate 9.74% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Cboe UK Consumer vs. JPM AC Asia
Performance |
| Timeline |
Cboe UK and JPM AC Volatility Contrast
Predicted Return Density |
| Returns |
Cboe UK Consumer
Pair trading matchups for Cboe UK
JPM AC Asia
Pair trading matchups for JPM AC
Pair Trading with Cboe UK and JPM AC
The main advantage of trading using opposite Cboe UK and JPM AC positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Cboe UK position performs unexpectedly, JPM AC 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 JPM AC will offset losses from the drop in JPM AC's long position.| Cboe UK vs. Check Point Software | Cboe UK vs. Evolution Gaming Group | Cboe UK vs. Beeks Trading | Cboe UK vs. Hansa Investment |
| JPM AC vs. Vanguard FTSE Developed | JPM AC vs. Leverage Shares 2x | JPM AC vs. Amundi Index Solutions | JPM AC vs. Amundi Index Solutions |
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 Aroon Oscillator module to analyze current equity momentum using Aroon Oscillator and other momentum ratios.
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