Correlation Between Jabil Circuit and Squarespace
Can any of the company-specific risk be diversified away by investing in both Jabil Circuit and Squarespace 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 Jabil Circuit and Squarespace into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Jabil Circuit and Squarespace, you can compare the effects of market volatilities on Jabil Circuit and Squarespace 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 Jabil Circuit with a short position of Squarespace. Check out your portfolio center. Please also check ongoing floating volatility patterns of Jabil Circuit and Squarespace.
Diversification Opportunities for Jabil Circuit and Squarespace
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Jabil and Squarespace is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Jabil Circuit and Squarespace in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Squarespace and Jabil Circuit 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 Jabil Circuit are associated (or correlated) with Squarespace. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Squarespace has no effect on the direction of Jabil Circuit i.e., Jabil Circuit and Squarespace go up and down completely randomly.
Pair Corralation between Jabil Circuit and Squarespace
If you would invest 12,759 in Jabil Circuit on November 1, 2024 and sell it today you would earn a total of 3,505 from holding Jabil Circuit or generate 27.47% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 1.67% |
| Values | Daily Returns |
Jabil Circuit vs. Squarespace
Performance |
| Timeline |
| Jabil Circuit |
| Squarespace |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
Jabil Circuit and Squarespace Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Jabil Circuit and Squarespace
The main advantage of trading using opposite Jabil Circuit and Squarespace positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Jabil Circuit position performs unexpectedly, Squarespace 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 Squarespace will offset losses from the drop in Squarespace's long position.| Jabil Circuit vs. Sanmina | Jabil Circuit vs. Celestica | Jabil Circuit vs. Plexus Corp | Jabil Circuit vs. Fabrinet |
| Squarespace vs. Wex Inc | Squarespace vs. CSG Systems International | Squarespace vs. VeriSign | Squarespace vs. Evertec |
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 Dashboard module to portfolio dashboard that provides centralized access to all your investments.
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