Correlation Between Jacquet Metal and Lagardere Active
Can any of the company-specific risk be diversified away by investing in both Jacquet Metal and Lagardere Active 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 Jacquet Metal and Lagardere Active into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Jacquet Metal Service and Lagardere Active Broadcast, you can compare the effects of market volatilities on Jacquet Metal and Lagardere Active 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 Jacquet Metal with a short position of Lagardere Active. Check out your portfolio center. Please also check ongoing floating volatility patterns of Jacquet Metal and Lagardere Active.
Diversification Opportunities for Jacquet Metal and Lagardere Active
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Jacquet and Lagardere is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Jacquet Metal Service and Lagardere Active Broadcast in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Lagardere Active Bro and Jacquet Metal 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 Jacquet Metal Service are associated (or correlated) with Lagardere Active. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Lagardere Active Bro has no effect on the direction of Jacquet Metal i.e., Jacquet Metal and Lagardere Active go up and down completely randomly.
Pair Corralation between Jacquet Metal and Lagardere Active
If you would invest 1,630 in Jacquet Metal Service on September 23, 2024 and sell it today you would earn a total of 82.00 from holding Jacquet Metal Service or generate 5.03% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 0.0% |
| Values | Daily Returns |
Jacquet Metal Service vs. Lagardere Active Broadcast
Performance |
| Timeline |
| Jacquet Metal Service |
| Lagardere Active Bro |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
Jacquet Metal and Lagardere Active Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Jacquet Metal and Lagardere Active
The main advantage of trading using opposite Jacquet Metal and Lagardere Active positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Jacquet Metal position performs unexpectedly, Lagardere Active 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 Lagardere Active will offset losses from the drop in Lagardere Active's long position.| Jacquet Metal vs. Thermador Groupe SA | Jacquet Metal vs. Rubis SCA | Jacquet Metal vs. Vicat SA | Jacquet Metal vs. Trigano SA |
| Lagardere Active vs. Gaztransport Technigaz SAS | Lagardere Active vs. Fiducial Office Solutions | Lagardere Active vs. Sidetrade | Lagardere Active vs. Jacquet Metal Service |
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 Aroon Oscillator module to analyze current equity momentum using Aroon Oscillator and other momentum ratios.
Other Complementary Tools
| Portfolio Backtesting Avoid under-diversification and over-optimization by backtesting your portfolios | |
| Idea Breakdown Analyze constituents of all Macroaxis ideas. Macroaxis investment ideas are predefined, sector-focused investing themes | |
| Portfolio Volatility Check portfolio volatility and analyze historical return density to properly model market risk | |
| ETFs Find actively traded Exchange Traded Funds (ETF) from around the world | |
| Portfolio Center All portfolio management and optimization tools to improve performance of your portfolios |