Correlation Between Jubilee Life and Supernet
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By analyzing existing cross correlation between Jubilee Life Insurance and Supernet, you can compare the effects of market volatilities on Jubilee Life and Supernet 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 Jubilee Life with a short position of Supernet. Check out your portfolio center. Please also check ongoing floating volatility patterns of Jubilee Life and Supernet.
Diversification Opportunities for Jubilee Life and Supernet
0.87 | Correlation Coefficient |
Very poor diversification
The 3 months correlation between Jubilee and Supernet is 0.87. Overlapping area represents the amount of risk that can be diversified away by holding Jubilee Life Insurance and Supernet in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Supernet and Jubilee Life 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 Jubilee Life Insurance are associated (or correlated) with Supernet. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Supernet has no effect on the direction of Jubilee Life i.e., Jubilee Life and Supernet go up and down completely randomly.
Pair Corralation between Jubilee Life and Supernet
Assuming the 90 days trading horizon Jubilee Life Insurance is expected to generate 0.65 times more return on investment than Supernet. However, Jubilee Life Insurance is 1.53 times less risky than Supernet. It trades about 0.35 of its potential returns per unit of risk. Supernet is currently generating about 0.22 per unit of risk. If you would invest 13,783 in Jubilee Life Insurance on September 14, 2024 and sell it today you would earn a total of 4,527 from holding Jubilee Life Insurance or generate 32.84% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Strong |
| Accuracy | 95.45% |
| Values | Daily Returns |
Jubilee Life Insurance vs. Supernet
Performance |
| Timeline |
| Jubilee Life Insurance |
| Supernet |
Jubilee Life and Supernet Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Jubilee Life and Supernet
The main advantage of trading using opposite Jubilee Life and Supernet positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Jubilee Life position performs unexpectedly, Supernet 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 Supernet will offset losses from the drop in Supernet's long position.| Jubilee Life vs. 786 Investment Limited | Jubilee Life vs. Hi Tech Lubricants | Jubilee Life vs. Quice Food Industries | Jubilee Life vs. Unity Foods |
| Supernet vs. Atlas Insurance | Supernet vs. Sindh Modaraba Management | Supernet vs. Jubilee Life Insurance | Supernet vs. Premier Insurance |
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 ETFs module to find actively traded Exchange Traded Funds (ETF) from around the world.
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