Correlation Between FTAI Aviation and JEFFERIES
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By analyzing existing cross correlation between FTAI Aviation Ltd and JEFFERIES GROUP LLC, you can compare the effects of market volatilities on FTAI Aviation and JEFFERIES 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 FTAI Aviation with a short position of JEFFERIES. Check out your portfolio center. Please also check ongoing floating volatility patterns of FTAI Aviation and JEFFERIES.
Diversification Opportunities for FTAI Aviation and JEFFERIES
-0.1 | Correlation Coefficient |
Good diversification
The 3 months correlation between FTAI and JEFFERIES is -0.1. Overlapping area represents the amount of risk that can be diversified away by holding FTAI Aviation Ltd and JEFFERIES GROUP LLC in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on JEFFERIES GROUP LLC and FTAI Aviation 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 FTAI Aviation Ltd are associated (or correlated) with JEFFERIES. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of JEFFERIES GROUP LLC has no effect on the direction of FTAI Aviation i.e., FTAI Aviation and JEFFERIES go up and down completely randomly.
Pair Corralation between FTAI Aviation and JEFFERIES
Assuming the 90 days horizon FTAI Aviation Ltd is expected to generate 0.83 times more return on investment than JEFFERIES. However, FTAI Aviation Ltd is 1.21 times less risky than JEFFERIES. It trades about -0.03 of its potential returns per unit of risk. JEFFERIES GROUP LLC is currently generating about -0.1 per unit of risk. If you would invest 2,640 in FTAI Aviation Ltd on October 22, 2024 and sell it today you would lose (48.00) from holding FTAI Aviation Ltd or give up 1.82% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 95.12% |
| Values | Daily Returns |
FTAI Aviation Ltd vs. JEFFERIES GROUP LLC
Performance |
| Timeline |
| FTAI Aviation |
| JEFFERIES GROUP LLC |
FTAI Aviation and JEFFERIES Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with FTAI Aviation and JEFFERIES
The main advantage of trading using opposite FTAI Aviation and JEFFERIES positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if FTAI Aviation position performs unexpectedly, JEFFERIES 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 JEFFERIES will offset losses from the drop in JEFFERIES's long position.| FTAI Aviation vs. Helmerich and Payne | FTAI Aviation vs. Pembina Pipeline | FTAI Aviation vs. Everspin Technologies | FTAI Aviation vs. Jabil Circuit |
| JEFFERIES vs. X FAB Silicon Foundries | JEFFERIES vs. Olympic Steel | JEFFERIES vs. NL Industries | JEFFERIES vs. Avient Corp |
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 Balance Of Power module to check stock momentum by analyzing Balance Of Power indicator and other technical ratios.
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