Correlation Between JBG SMITH and Wyndham
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By analyzing existing cross correlation between JBG SMITH Properties and Wyndham Destinations 51, you can compare the effects of market volatilities on JBG SMITH and Wyndham 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 Wyndham. Check out your portfolio center. Please also check ongoing floating volatility patterns of JBG SMITH and Wyndham.
Diversification Opportunities for JBG SMITH and Wyndham
Average diversification
The 3 months correlation between JBG and Wyndham is 0.13. Overlapping area represents the amount of risk that can be diversified away by holding JBG SMITH Properties and Wyndham Destinations 51 in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Wyndham Destinations 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 Wyndham. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Wyndham Destinations has no effect on the direction of JBG SMITH i.e., JBG SMITH and Wyndham go up and down completely randomly.
Pair Corralation between JBG SMITH and Wyndham
Given the investment horizon of 90 days JBG SMITH Properties is expected to generate 15.29 times more return on investment than Wyndham. However, JBG SMITH is 15.29 times more volatile than Wyndham Destinations 51. It trades about 0.07 of its potential returns per unit of risk. Wyndham Destinations 51 is currently generating about -0.2 per unit of risk. If you would invest 1,661 in JBG SMITH Properties on September 2, 2024 and sell it today you would earn a total of 48.00 from holding JBG SMITH Properties or generate 2.89% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 95.24% |
| Values | Daily Returns |
JBG SMITH Properties vs. Wyndham Destinations 51
Performance |
| Timeline |
| JBG SMITH Properties |
| Wyndham Destinations |
JBG SMITH and Wyndham Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with JBG SMITH and Wyndham
The main advantage of trading using opposite JBG SMITH and Wyndham positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if JBG SMITH position performs unexpectedly, Wyndham 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 Wyndham will offset losses from the drop in Wyndham's long position.| JBG SMITH vs. Cousins Properties Incorporated | JBG SMITH vs. Highwoods Properties | JBG SMITH vs. Douglas Emmett | JBG SMITH vs. Equity Commonwealth |
| Wyndham vs. Old Republic International | Wyndham vs. Analog Devices | Wyndham vs. Sun Life Financial | Wyndham vs. NETGEAR |
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 FinTech Suite module to use AI to screen and filter profitable investment opportunities.
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