Correlation Between JPM Europe and Groupama Entreprises
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By analyzing existing cross correlation between JPM Europe Small and Groupama Entreprises N, you can compare the effects of market volatilities on JPM Europe and Groupama Entreprises 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 JPM Europe with a short position of Groupama Entreprises. Check out your portfolio center. Please also check ongoing floating volatility patterns of JPM Europe and Groupama Entreprises.
Diversification Opportunities for JPM Europe and Groupama Entreprises
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between JPM and Groupama is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding JPM Europe Small and Groupama Entreprises N in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Groupama Entreprises and JPM Europe 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 JPM Europe Small are associated (or correlated) with Groupama Entreprises. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Groupama Entreprises has no effect on the direction of JPM Europe i.e., JPM Europe and Groupama Entreprises go up and down completely randomly.
Pair Corralation between JPM Europe and Groupama Entreprises
If you would invest 59,137 in Groupama Entreprises N on October 26, 2024 and sell it today you would earn a total of 429.00 from holding Groupama Entreprises N or generate 0.73% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 1.69% |
| Values | Daily Returns |
JPM Europe Small vs. Groupama Entreprises N
Performance |
| Timeline |
| JPM Europe Small |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
| Groupama Entreprises |
JPM Europe and Groupama Entreprises Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with JPM Europe and Groupama Entreprises
The main advantage of trading using opposite JPM Europe and Groupama Entreprises positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if JPM Europe position performs unexpectedly, Groupama Entreprises 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 Groupama Entreprises will offset losses from the drop in Groupama Entreprises' long position.| JPM Europe vs. JPM Global Natural | JPM Europe vs. Esfera Robotics R | JPM Europe vs. R co Valor F | JPM Europe vs. CM AM Monplus NE |
| Groupama Entreprises vs. UBS Money Market | Groupama Entreprises vs. Caixabank Seleccin Tendencias | Groupama Entreprises vs. BBVA Telecomunicaciones PP |
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 Equity Search module to search for actively traded equities including funds and ETFs from over 30 global markets.
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