Correlation Between Jacobs Solutions and BARCLAYS
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By analyzing existing cross correlation between Jacobs Solutions and BARCLAYS PLC, you can compare the effects of market volatilities on Jacobs Solutions and BARCLAYS 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 Jacobs Solutions with a short position of BARCLAYS. Check out your portfolio center. Please also check ongoing floating volatility patterns of Jacobs Solutions and BARCLAYS.
Diversification Opportunities for Jacobs Solutions and BARCLAYS
-0.43 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Jacobs and BARCLAYS is -0.43. Overlapping area represents the amount of risk that can be diversified away by holding Jacobs Solutions and BARCLAYS PLC in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on BARCLAYS PLC and Jacobs Solutions 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 Jacobs Solutions are associated (or correlated) with BARCLAYS. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of BARCLAYS PLC has no effect on the direction of Jacobs Solutions i.e., Jacobs Solutions and BARCLAYS go up and down completely randomly.
Pair Corralation between Jacobs Solutions and BARCLAYS
Taking into account the 90-day investment horizon Jacobs Solutions is expected to generate 1.78 times more return on investment than BARCLAYS. However, Jacobs Solutions is 1.78 times more volatile than BARCLAYS PLC. It trades about 0.01 of its potential returns per unit of risk. BARCLAYS PLC is currently generating about -0.24 per unit of risk. If you would invest 14,140 in Jacobs Solutions on August 31, 2024 and sell it today you would lose (19.00) from holding Jacobs Solutions or give up 0.13% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 90.91% |
| Values | Daily Returns |
Jacobs Solutions vs. BARCLAYS PLC
Performance |
| Timeline |
| Jacobs Solutions |
| BARCLAYS PLC |
Jacobs Solutions and BARCLAYS Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Jacobs Solutions and BARCLAYS
The main advantage of trading using opposite Jacobs Solutions and BARCLAYS positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Jacobs Solutions position performs unexpectedly, BARCLAYS 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 BARCLAYS will offset losses from the drop in BARCLAYS's long position.| Jacobs Solutions vs. KBR Inc | Jacobs Solutions vs. Tetra Tech | Jacobs Solutions vs. Fluor | Jacobs Solutions vs. Topbuild Corp |
| BARCLAYS vs. Jacobs Solutions | BARCLAYS vs. Sandstorm Gold Ltd | BARCLAYS vs. Griffon | BARCLAYS vs. Lion One Metals |
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 Aroon Oscillator module to analyze current equity momentum using Aroon Oscillator and other momentum ratios.
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