Correlation Between JLF INVESTMENT and Singapore Airlines
Can any of the company-specific risk be diversified away by investing in both JLF INVESTMENT and Singapore Airlines 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 Singapore Airlines into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between JLF INVESTMENT and Singapore Airlines Limited, you can compare the effects of market volatilities on JLF INVESTMENT and Singapore Airlines 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 Singapore Airlines. Check out your portfolio center. Please also check ongoing floating volatility patterns of JLF INVESTMENT and Singapore Airlines.
Diversification Opportunities for JLF INVESTMENT and Singapore Airlines
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between JLF and Singapore is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding JLF INVESTMENT and Singapore Airlines Limited in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Singapore Airlines 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 Singapore Airlines. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Singapore Airlines has no effect on the direction of JLF INVESTMENT i.e., JLF INVESTMENT and Singapore Airlines go up and down completely randomly.
Pair Corralation between JLF INVESTMENT and Singapore Airlines
If you would invest 1.00 in JLF INVESTMENT on October 11, 2024 and sell it today you would earn a total of 0.00 from holding JLF INVESTMENT or generate 0.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 94.44% |
| Values | Daily Returns |
JLF INVESTMENT vs. Singapore Airlines Limited
Performance |
| Timeline |
| JLF INVESTMENT |
| Singapore Airlines |
JLF INVESTMENT and Singapore Airlines Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with JLF INVESTMENT and Singapore Airlines
The main advantage of trading using opposite JLF INVESTMENT and Singapore Airlines positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if JLF INVESTMENT position performs unexpectedly, Singapore Airlines 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 Singapore Airlines will offset losses from the drop in Singapore Airlines' 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 |
| Singapore Airlines vs. JLF INVESTMENT | Singapore Airlines vs. Apollo Investment Corp | Singapore Airlines vs. SLR Investment Corp | Singapore Airlines vs. WisdomTree Investments |
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 AI Portfolio Architect module to use AI to generate optimal portfolios and find profitable investment opportunities.
Other Complementary Tools
| Global Markets Map Get a quick overview of global market snapshot using zoomable world map. Drill down to check world indexes | |
| Top Crypto Exchanges Search and analyze digital assets across top global cryptocurrency exchanges | |
| Money Managers Screen money managers from public funds and ETFs managed around the world | |
| Portfolio Center All portfolio management and optimization tools to improve performance of your portfolios | |
| Portfolio File Import Quickly import all of your third-party portfolios from your local drive in csv format |