Correlation Between JBG SMITH and ENBCN
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By analyzing existing cross correlation between JBG SMITH Properties and ENBCN 16 04 OCT 26, you can compare the effects of market volatilities on JBG SMITH and ENBCN 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 ENBCN. Check out your portfolio center. Please also check ongoing floating volatility patterns of JBG SMITH and ENBCN.
Diversification Opportunities for JBG SMITH and ENBCN
Weak diversification
The 3 months correlation between JBG and ENBCN is 0.32. Overlapping area represents the amount of risk that can be diversified away by holding JBG SMITH Properties and ENBCN 16 04 OCT 26 in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on ENBCN 16 04 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 ENBCN. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of ENBCN 16 04 has no effect on the direction of JBG SMITH i.e., JBG SMITH and ENBCN go up and down completely randomly.
Pair Corralation between JBG SMITH and ENBCN
Given the investment horizon of 90 days JBG SMITH Properties is expected to generate 16.19 times more return on investment than ENBCN. However, JBG SMITH is 16.19 times more volatile than ENBCN 16 04 OCT 26. It trades about 0.1 of its potential returns per unit of risk. ENBCN 16 04 OCT 26 is currently generating about 0.22 per unit of risk. If you would invest 1,565 in JBG SMITH Properties on September 13, 2024 and sell it today you would earn a total of 60.00 from holding JBG SMITH Properties or generate 3.83% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 95.45% |
| Values | Daily Returns |
JBG SMITH Properties vs. ENBCN 16 04 OCT 26
Performance |
| Timeline |
| JBG SMITH Properties |
| ENBCN 16 04 |
JBG SMITH and ENBCN Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with JBG SMITH and ENBCN
The main advantage of trading using opposite JBG SMITH and ENBCN positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if JBG SMITH position performs unexpectedly, ENBCN 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 ENBCN will offset losses from the drop in ENBCN's long position.| JBG SMITH vs. Cousins Properties Incorporated | JBG SMITH vs. Highwoods Properties | JBG SMITH vs. Douglas Emmett | JBG SMITH vs. Equity Commonwealth |
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 Portfolio File Import module to quickly import all of your third-party portfolios from your local drive in csv format.
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