Correlation Between JBG SMITH and Nasdaq Benchmark
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By analyzing existing cross correlation between JBG SMITH Properties and Nasdaq Benchmark Energy, you can compare the effects of market volatilities on JBG SMITH and Nasdaq Benchmark 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 JBG SMITH with a short position of Nasdaq Benchmark. Check out your portfolio center. Please also check ongoing floating volatility patterns of JBG SMITH and Nasdaq Benchmark.
Diversification Opportunities for JBG SMITH and Nasdaq Benchmark
-0.54 | Correlation Coefficient |
Excellent diversification
The 3 months correlation between JBG and Nasdaq is -0.54. Overlapping area represents the amount of risk that can be diversified away by holding JBG SMITH Properties and Nasdaq Benchmark Energy in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Nasdaq Benchmark Energy and JBG SMITH 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 JBG SMITH Properties are associated (or correlated) with Nasdaq Benchmark. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Nasdaq Benchmark Energy has no effect on the direction of JBG SMITH i.e., JBG SMITH and Nasdaq Benchmark go up and down completely randomly.
Pair Corralation between JBG SMITH and Nasdaq Benchmark
Given the investment horizon of 90 days JBG SMITH Properties is expected to generate 1.85 times more return on investment than Nasdaq Benchmark. However, JBG SMITH is 1.85 times more volatile than Nasdaq Benchmark Energy. It trades about 0.05 of its potential returns per unit of risk. Nasdaq Benchmark Energy is currently generating about -0.01 per unit of risk. If you would invest 1,218 in JBG SMITH Properties on September 19, 2024 and sell it today you would earn a total of 316.00 from holding JBG SMITH Properties or generate 25.94% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 99.66% |
| Values | Daily Returns |
JBG SMITH Properties vs. Nasdaq Benchmark Energy
Performance |
| Timeline |
JBG SMITH and Nasdaq Benchmark Volatility Contrast
Predicted Return Density |
| Returns |
JBG SMITH Properties
Pair trading matchups for JBG SMITH
Nasdaq Benchmark Energy
Pair trading matchups for Nasdaq Benchmark
Pair Trading with JBG SMITH and Nasdaq Benchmark
The main advantage of trading using opposite JBG SMITH and Nasdaq Benchmark positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if JBG SMITH position performs unexpectedly, Nasdaq Benchmark 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 Nasdaq Benchmark will offset losses from the drop in Nasdaq Benchmark's long position.| JBG SMITH vs. Cousins Properties Incorporated | JBG SMITH vs. Highwoods Properties | JBG SMITH vs. Douglas Emmett | JBG SMITH vs. Equity Commonwealth |
| Nasdaq Benchmark vs. JBG SMITH Properties | Nasdaq Benchmark vs. Summit Materials | Nasdaq Benchmark vs. Harmony Gold Mining | Nasdaq Benchmark vs. Analog Devices |
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 Bollinger Bands module to use Bollinger Bands indicator to analyze target price for a given investing horizon.
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