Correlation Between Citizens Financial and Jeffersonville Bancorp
Can any of the company-specific risk be diversified away by investing in both Citizens Financial and Jeffersonville Bancorp 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 Citizens Financial and Jeffersonville Bancorp into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Citizens Financial Group, and Jeffersonville Bancorp, you can compare the effects of market volatilities on Citizens Financial and Jeffersonville Bancorp 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 Citizens Financial with a short position of Jeffersonville Bancorp. Check out your portfolio center. Please also check ongoing floating volatility patterns of Citizens Financial and Jeffersonville Bancorp.
Diversification Opportunities for Citizens Financial and Jeffersonville Bancorp
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Citizens and Jeffersonville is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Citizens Financial Group, and Jeffersonville Bancorp in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Jeffersonville Bancorp and Citizens Financial 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 Citizens Financial Group, are associated (or correlated) with Jeffersonville Bancorp. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Jeffersonville Bancorp has no effect on the direction of Citizens Financial i.e., Citizens Financial and Jeffersonville Bancorp go up and down completely randomly.
Pair Corralation between Citizens Financial and Jeffersonville Bancorp
If you would invest 1,845 in Jeffersonville Bancorp on August 30, 2024 and sell it today you would earn a total of 0.00 from holding Jeffersonville Bancorp or generate 0.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 4.35% |
| Values | Daily Returns |
Citizens Financial Group, vs. Jeffersonville Bancorp
Performance |
| Timeline |
| Citizens Financial Group, |
| Jeffersonville Bancorp |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
Citizens Financial and Jeffersonville Bancorp Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Citizens Financial and Jeffersonville Bancorp
The main advantage of trading using opposite Citizens Financial and Jeffersonville Bancorp positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Citizens Financial position performs unexpectedly, Jeffersonville Bancorp 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 Jeffersonville Bancorp will offset losses from the drop in Jeffersonville Bancorp's long position.| Citizens Financial vs. Celsius Holdings | Citizens Financial vs. Modine Manufacturing | Citizens Financial vs. BRP Inc | Citizens Financial vs. Lifevantage |
| Jeffersonville Bancorp vs. Heritage NOLA Bancorp | Jeffersonville Bancorp vs. Rhinebeck Bancorp | Jeffersonville Bancorp vs. Bridgewater Bancshares Depositary | Jeffersonville Bancorp vs. Bank of Marin |
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 Sync Your Broker module to sync your existing holdings, watchlists, positions or portfolios from thousands of online brokerage services, banks, investment account aggregators and robo-advisors..
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