Correlation Between JPMorgan Chase and Graf Acquisition
Can any of the company-specific risk be diversified away by investing in both JPMorgan Chase and Graf Acquisition 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 Graf Acquisition 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 Graf Acquisition Corp, you can compare the effects of market volatilities on JPMorgan Chase and Graf Acquisition 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 Graf Acquisition. Check out your portfolio center. Please also check ongoing floating volatility patterns of JPMorgan Chase and Graf Acquisition.
Diversification Opportunities for JPMorgan Chase and Graf Acquisition
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between JPMorgan and Graf is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding JPMorgan Chase Co and Graf Acquisition Corp in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Graf Acquisition Corp 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 Graf Acquisition. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Graf Acquisition Corp has no effect on the direction of JPMorgan Chase i.e., JPMorgan Chase and Graf Acquisition go up and down completely randomly.
Pair Corralation between JPMorgan Chase and Graf Acquisition
If you would invest 22,774 in JPMorgan Chase Co on January 10, 2025 and sell it today you would lose (63.00) from holding JPMorgan Chase Co or give up 0.28% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 0.0% |
| Values | Daily Returns |
JPMorgan Chase Co vs. Graf Acquisition Corp
Performance |
| Timeline |
| JPMorgan Chase |
| Graf Acquisition Corp |
Risk-Adjusted Performance
Very Weak
Weak | Strong |
JPMorgan Chase and Graf Acquisition Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with JPMorgan Chase and Graf Acquisition
The main advantage of trading using opposite JPMorgan Chase and Graf Acquisition positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if JPMorgan Chase position performs unexpectedly, Graf Acquisition 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 Graf Acquisition will offset losses from the drop in Graf Acquisition's long position.| JPMorgan Chase vs. Citigroup | JPMorgan Chase vs. Wells Fargo | JPMorgan Chase vs. Toronto Dominion Bank | JPMorgan Chase vs. Nu Holdings |
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 Sync Your Broker module to sync your existing holdings, watchlists, positions or portfolios from thousands of online brokerage services, banks, investment account aggregators and robo-advisors..
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