Correlation Between JBG SMITH and FEDEX
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By analyzing existing cross correlation between JBG SMITH Properties and FEDEX P 455, you can compare the effects of market volatilities on JBG SMITH and FEDEX 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 FEDEX. Check out your portfolio center. Please also check ongoing floating volatility patterns of JBG SMITH and FEDEX.
Diversification Opportunities for JBG SMITH and FEDEX
Modest diversification
The 3 months correlation between JBG and FEDEX is 0.2. Overlapping area represents the amount of risk that can be diversified away by holding JBG SMITH Properties and FEDEX P 455 in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on FEDEX P 455 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 FEDEX. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of FEDEX P 455 has no effect on the direction of JBG SMITH i.e., JBG SMITH and FEDEX go up and down completely randomly.
Pair Corralation between JBG SMITH and FEDEX
Given the investment horizon of 90 days JBG SMITH Properties is expected to generate 1.17 times more return on investment than FEDEX. However, JBG SMITH is 1.17 times more volatile than FEDEX P 455. It trades about 0.11 of its potential returns per unit of risk. FEDEX P 455 is currently generating about -0.1 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 69.00 from holding JBG SMITH Properties or generate 4.41% 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. FEDEX P 455
Performance |
| Timeline |
| JBG SMITH Properties |
| FEDEX P 455 |
JBG SMITH and FEDEX Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with JBG SMITH and FEDEX
The main advantage of trading using opposite JBG SMITH and FEDEX positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if JBG SMITH position performs unexpectedly, FEDEX 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 FEDEX will offset losses from the drop in FEDEX's long position.| JBG SMITH vs. Cousins Properties Incorporated | JBG SMITH vs. Highwoods Properties | JBG SMITH vs. Douglas Emmett | JBG SMITH vs. Equity Commonwealth |
| FEDEX vs. Flexible Solutions International | FEDEX vs. Zane Interactive Publishing | FEDEX vs. Hudson Technologies | FEDEX vs. Four Seasons Education |
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 Fundamental Analysis module to view fundamental data based on most recent published financial statements.
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