Correlation Between JPMorgan Chase and ASSURED
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By analyzing existing cross correlation between JPMorgan Chase Co and ASSURED GTY HLDGS, you can compare the effects of market volatilities on JPMorgan Chase and ASSURED 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 ASSURED. Check out your portfolio center. Please also check ongoing floating volatility patterns of JPMorgan Chase and ASSURED.
Diversification Opportunities for JPMorgan Chase and ASSURED
-0.59 | Correlation Coefficient |
Excellent diversification
The 3 months correlation between JPMorgan and ASSURED is -0.59. Overlapping area represents the amount of risk that can be diversified away by holding JPMorgan Chase Co and ASSURED GTY HLDGS in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on ASSURED GTY HLDGS 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 ASSURED. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of ASSURED GTY HLDGS has no effect on the direction of JPMorgan Chase i.e., JPMorgan Chase and ASSURED go up and down completely randomly.
Pair Corralation between JPMorgan Chase and ASSURED
Considering the 90-day investment horizon JPMorgan Chase Co is expected to generate 2.49 times more return on investment than ASSURED. However, JPMorgan Chase is 2.49 times more volatile than ASSURED GTY HLDGS. It trades about 0.19 of its potential returns per unit of risk. ASSURED GTY HLDGS is currently generating about 0.01 per unit of risk. If you would invest 22,550 in JPMorgan Chase Co on August 28, 2024 and sell it today you would earn a total of 2,479 from holding JPMorgan Chase Co or generate 10.99% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
JPMorgan Chase Co vs. ASSURED GTY HLDGS
Performance |
| Timeline |
| JPMorgan Chase |
| ASSURED GTY HLDGS |
JPMorgan Chase and ASSURED Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with JPMorgan Chase and ASSURED
The main advantage of trading using opposite JPMorgan Chase and ASSURED positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if JPMorgan Chase position performs unexpectedly, ASSURED 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 ASSURED will offset losses from the drop in ASSURED's long position.| JPMorgan Chase vs. Nu Holdings | JPMorgan Chase vs. HSBC Holdings PLC | JPMorgan Chase vs. Bank of Montreal | JPMorgan Chase vs. Bank of Nova |
| ASSURED vs. Juniata Valley Financial | ASSURED vs. Barings BDC | ASSURED vs. AmTrust Financial Services | ASSURED vs. Mattel Inc |
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 Portfolio Comparator module to compare the composition, asset allocations and performance of any two portfolios in your account.
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