Correlation Between JBG SMITH and ZEEKR Intelligent
Can any of the company-specific risk be diversified away by investing in both JBG SMITH and ZEEKR Intelligent at the same time? Although using a correlation coefficient on its own may not help to predict future stock returns, this module helps to understand the diversifiable risk of combining JBG SMITH and ZEEKR Intelligent into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between JBG SMITH Properties and ZEEKR Intelligent Technology, you can compare the effects of market volatilities on JBG SMITH and ZEEKR Intelligent 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 ZEEKR Intelligent. Check out your portfolio center. Please also check ongoing floating volatility patterns of JBG SMITH and ZEEKR Intelligent.
Diversification Opportunities for JBG SMITH and ZEEKR Intelligent
-0.2 | Correlation Coefficient |
Good diversification
The 3 months correlation between JBG and ZEEKR is -0.2. Overlapping area represents the amount of risk that can be diversified away by holding JBG SMITH Properties and ZEEKR Intelligent Technology in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on ZEEKR Intelligent 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 ZEEKR Intelligent. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of ZEEKR Intelligent has no effect on the direction of JBG SMITH i.e., JBG SMITH and ZEEKR Intelligent go up and down completely randomly.
Pair Corralation between JBG SMITH and ZEEKR Intelligent
Given the investment horizon of 90 days JBG SMITH Properties is expected to generate 0.32 times more return on investment than ZEEKR Intelligent. However, JBG SMITH Properties is 3.16 times less risky than ZEEKR Intelligent. It trades about -0.11 of its potential returns per unit of risk. ZEEKR Intelligent Technology is currently generating about -0.11 per unit of risk. If you would invest 1,798 in JBG SMITH Properties on August 29, 2024 and sell it today you would lose (125.00) from holding JBG SMITH Properties or give up 6.95% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
JBG SMITH Properties vs. ZEEKR Intelligent Technology
Performance |
| Timeline |
| JBG SMITH Properties |
| ZEEKR Intelligent |
JBG SMITH and ZEEKR Intelligent Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with JBG SMITH and ZEEKR Intelligent
The main advantage of trading using opposite JBG SMITH and ZEEKR Intelligent positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if JBG SMITH position performs unexpectedly, ZEEKR Intelligent 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 ZEEKR Intelligent will offset losses from the drop in ZEEKR Intelligent's long position.| JBG SMITH vs. Cousins Properties Incorporated | JBG SMITH vs. Highwoods Properties | JBG SMITH vs. Douglas Emmett | JBG SMITH vs. Equity Commonwealth |
| ZEEKR Intelligent vs. Femasys | ZEEKR Intelligent vs. JBG SMITH Properties | ZEEKR Intelligent vs. Repligen | ZEEKR Intelligent vs. ICU Medical |
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 Price Ceiling Movement module to calculate and plot Price Ceiling Movement for different equity instruments.
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