Correlation Between JPMorgan Chase and Sculptor Capital
Can any of the company-specific risk be diversified away by investing in both JPMorgan Chase and Sculptor Capital 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 Sculptor Capital 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 Sculptor Capital Management, you can compare the effects of market volatilities on JPMorgan Chase and Sculptor Capital 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 Sculptor Capital. Check out your portfolio center. Please also check ongoing floating volatility patterns of JPMorgan Chase and Sculptor Capital.
Diversification Opportunities for JPMorgan Chase and Sculptor Capital
0.58 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between JPMorgan and Sculptor is 0.58. Overlapping area represents the amount of risk that can be diversified away by holding JPMorgan Chase Co and Sculptor Capital Management in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Sculptor Capital Man 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 Sculptor Capital. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Sculptor Capital Man has no effect on the direction of JPMorgan Chase i.e., JPMorgan Chase and Sculptor Capital go up and down completely randomly.
Pair Corralation between JPMorgan Chase and Sculptor Capital
If you would invest 23,929 in JPMorgan Chase Co on September 12, 2024 and sell it today you would earn a total of 357.00 from holding JPMorgan Chase Co or generate 1.49% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 4.76% |
| Values | Daily Returns |
JPMorgan Chase Co vs. Sculptor Capital Management
Performance |
| Timeline |
| JPMorgan Chase |
| Sculptor Capital Man |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
JPMorgan Chase and Sculptor Capital Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with JPMorgan Chase and Sculptor Capital
The main advantage of trading using opposite JPMorgan Chase and Sculptor Capital positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if JPMorgan Chase position performs unexpectedly, Sculptor Capital 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 Sculptor Capital will offset losses from the drop in Sculptor Capital's long position.| JPMorgan Chase vs. Bank of America | JPMorgan Chase vs. Victory Integrity Smallmid Cap | JPMorgan Chase vs. Hilton Worldwide Holdings | JPMorgan Chase vs. NVIDIA |
| Sculptor Capital vs. Federated Premier Municipal | Sculptor Capital vs. Blackrock Muniyield | Sculptor Capital vs. Diamond Hill Investment | Sculptor Capital vs. NXG NextGen Infrastructure |
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 Fundamental Analysis module to view fundamental data based on most recent published financial statements.
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