Correlation Between JPMorgan Chase and Apollo Senior
Can any of the company-specific risk be diversified away by investing in both JPMorgan Chase and Apollo Senior 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 JPMorgan Chase and Apollo Senior into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between JPMorgan Chase Co and Apollo Senior Floating, you can compare the effects of market volatilities on JPMorgan Chase and Apollo Senior 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 JPMorgan Chase with a short position of Apollo Senior. Check out your portfolio center. Please also check ongoing floating volatility patterns of JPMorgan Chase and Apollo Senior.
Diversification Opportunities for JPMorgan Chase and Apollo Senior
0.79 | Correlation Coefficient |
Poor diversification
The 3 months correlation between JPMorgan and Apollo is 0.79. Overlapping area represents the amount of risk that can be diversified away by holding JPMorgan Chase Co and Apollo Senior Floating in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Apollo Senior Floating and JPMorgan Chase 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 JPMorgan Chase Co are associated (or correlated) with Apollo Senior. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Apollo Senior Floating has no effect on the direction of JPMorgan Chase i.e., JPMorgan Chase and Apollo Senior go up and down completely randomly.
Pair Corralation between JPMorgan Chase and Apollo Senior
If you would invest 24,203 in JPMorgan Chase Co on November 4, 2024 and sell it today you would earn a total of 2,527 from holding JPMorgan Chase Co or generate 10.44% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Significant |
| Accuracy | 5.0% |
| Values | Daily Returns |
JPMorgan Chase Co vs. Apollo Senior Floating
Performance |
| Timeline |
| JPMorgan Chase |
| Apollo Senior Floating |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
JPMorgan Chase and Apollo Senior Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with JPMorgan Chase and Apollo Senior
The main advantage of trading using opposite JPMorgan Chase and Apollo Senior positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if JPMorgan Chase position performs unexpectedly, Apollo Senior 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 Apollo Senior will offset losses from the drop in Apollo Senior's long position.| JPMorgan Chase vs. Nu Holdings | JPMorgan Chase vs. Bank of America | JPMorgan Chase vs. HSBC Holdings PLC | JPMorgan Chase vs. Royal Bank of |
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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 FinTech Suite module to use AI to screen and filter profitable investment opportunities.
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