Correlation Between JLF INVESTMENT and SQUIRREL MEDIA
Can any of the company-specific risk be diversified away by investing in both JLF INVESTMENT and SQUIRREL MEDIA 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 JLF INVESTMENT and SQUIRREL MEDIA into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between JLF INVESTMENT and SQUIRREL MEDIA SA, you can compare the effects of market volatilities on JLF INVESTMENT and SQUIRREL MEDIA 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 JLF INVESTMENT with a short position of SQUIRREL MEDIA. Check out your portfolio center. Please also check ongoing floating volatility patterns of JLF INVESTMENT and SQUIRREL MEDIA.
Diversification Opportunities for JLF INVESTMENT and SQUIRREL MEDIA
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between JLF and SQUIRREL is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding JLF INVESTMENT and SQUIRREL MEDIA SA in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on SQUIRREL MEDIA SA and JLF INVESTMENT 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 JLF INVESTMENT are associated (or correlated) with SQUIRREL MEDIA. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of SQUIRREL MEDIA SA has no effect on the direction of JLF INVESTMENT i.e., JLF INVESTMENT and SQUIRREL MEDIA go up and down completely randomly.
Pair Corralation between JLF INVESTMENT and SQUIRREL MEDIA
If you would invest 122.00 in SQUIRREL MEDIA SA on November 7, 2024 and sell it today you would earn a total of 17.00 from holding SQUIRREL MEDIA SA or generate 13.93% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
JLF INVESTMENT vs. SQUIRREL MEDIA SA
Performance |
| Timeline |
| JLF INVESTMENT |
| SQUIRREL MEDIA SA |
JLF INVESTMENT and SQUIRREL MEDIA Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with JLF INVESTMENT and SQUIRREL MEDIA
The main advantage of trading using opposite JLF INVESTMENT and SQUIRREL MEDIA positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if JLF INVESTMENT position performs unexpectedly, SQUIRREL MEDIA 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 SQUIRREL MEDIA will offset losses from the drop in SQUIRREL MEDIA's long position.| JLF INVESTMENT vs. KENEDIX OFFICE INV | JLF INVESTMENT vs. Corporate Office Properties | JLF INVESTMENT vs. SBI Insurance Group | JLF INVESTMENT vs. VITEC SOFTWARE GROUP |
| SQUIRREL MEDIA vs. The Walt Disney | SQUIRREL MEDIA vs. The Walt Disney | SQUIRREL MEDIA vs. Netflix | SQUIRREL MEDIA vs. Charter Communications |
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 Share Portfolio module to track or share privately all of your investments from the convenience of any device.
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