Correlation Between Catalyst Media and Jupiter Fund
Can any of the company-specific risk be diversified away by investing in both Catalyst Media and Jupiter Fund 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 Catalyst Media and Jupiter Fund into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Catalyst Media Group and Jupiter Fund Management, you can compare the effects of market volatilities on Catalyst Media and Jupiter Fund 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 Catalyst Media with a short position of Jupiter Fund. Check out your portfolio center. Please also check ongoing floating volatility patterns of Catalyst Media and Jupiter Fund.
Diversification Opportunities for Catalyst Media and Jupiter Fund
-0.73 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Catalyst and Jupiter is -0.73. Overlapping area represents the amount of risk that can be diversified away by holding Catalyst Media Group and Jupiter Fund Management in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Jupiter Fund Management and Catalyst Media 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 Catalyst Media Group are associated (or correlated) with Jupiter Fund. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Jupiter Fund Management has no effect on the direction of Catalyst Media i.e., Catalyst Media and Jupiter Fund go up and down completely randomly.
Pair Corralation between Catalyst Media and Jupiter Fund
Assuming the 90 days trading horizon Catalyst Media Group is expected to generate 0.75 times more return on investment than Jupiter Fund. However, Catalyst Media Group is 1.33 times less risky than Jupiter Fund. It trades about 0.0 of its potential returns per unit of risk. Jupiter Fund Management is currently generating about -0.01 per unit of risk. If you would invest 9,680 in Catalyst Media Group on September 13, 2024 and sell it today you would lose (930.00) from holding Catalyst Media Group or give up 9.61% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Catalyst Media Group vs. Jupiter Fund Management
Performance |
| Timeline |
| Catalyst Media Group |
| Jupiter Fund Management |
Catalyst Media and Jupiter Fund Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Catalyst Media and Jupiter Fund
The main advantage of trading using opposite Catalyst Media and Jupiter Fund positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Catalyst Media position performs unexpectedly, Jupiter Fund 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 Jupiter Fund will offset losses from the drop in Jupiter Fund's long position.| Catalyst Media vs. Zanaga Iron Ore | Catalyst Media vs. Alior Bank SA | Catalyst Media vs. Symphony Environmental Technologies | Catalyst Media vs. Ironveld Plc |
| Jupiter Fund vs. Catalyst Media Group | Jupiter Fund vs. Virgin Wines UK | Jupiter Fund vs. One Media iP | Jupiter Fund vs. Home Depot |
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 ETF Categories module to list of ETF categories grouped based on various criteria, such as the investment strategy or type of investments.
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