Correlation Between JLF INVESTMENT and AGNC INVESTMENT
Can any of the company-specific risk be diversified away by investing in both JLF INVESTMENT and AGNC 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 JLF INVESTMENT and AGNC INVESTMENT into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between JLF INVESTMENT and AGNC INVESTMENT, you can compare the effects of market volatilities on JLF INVESTMENT and AGNC 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 JLF INVESTMENT with a short position of AGNC INVESTMENT. Check out your portfolio center. Please also check ongoing floating volatility patterns of JLF INVESTMENT and AGNC INVESTMENT.
Diversification Opportunities for JLF INVESTMENT and AGNC INVESTMENT
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between JLF and AGNC is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding JLF INVESTMENT and AGNC INVESTMENT in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on AGNC INVESTMENT 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 AGNC INVESTMENT. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of AGNC INVESTMENT has no effect on the direction of JLF INVESTMENT i.e., JLF INVESTMENT and AGNC INVESTMENT go up and down completely randomly.
Pair Corralation between JLF INVESTMENT and AGNC INVESTMENT
If you would invest 754.00 in AGNC INVESTMENT on October 12, 2024 and sell it today you would earn a total of 151.00 from holding AGNC INVESTMENT or generate 20.03% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
JLF INVESTMENT vs. AGNC INVESTMENT
Performance |
| Timeline |
| JLF INVESTMENT |
| AGNC INVESTMENT |
JLF INVESTMENT and AGNC INVESTMENT Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with JLF INVESTMENT and AGNC INVESTMENT
The main advantage of trading using opposite JLF INVESTMENT and AGNC INVESTMENT positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if JLF INVESTMENT position performs unexpectedly, AGNC 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 AGNC INVESTMENT will offset losses from the drop in AGNC INVESTMENT's long position.| JLF INVESTMENT vs. GLG LIFE TECH | JLF INVESTMENT vs. Penn National Gaming | JLF INVESTMENT vs. UNITED RENTALS | JLF INVESTMENT vs. Digilife Technologies Limited |
| AGNC INVESTMENT vs. CN DATANG C | AGNC INVESTMENT vs. Aya Gold Silver | AGNC INVESTMENT vs. Globex Mining Enterprises | AGNC INVESTMENT vs. Automatic Data Processing |
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 Efficient Frontier module to plot and analyze your portfolio and positions against risk-return landscape of the market..
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