Correlation Between JPMorgan Chase and EXPEDIA
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By analyzing existing cross correlation between JPMorgan Chase Co and EXPEDIA GROUP INC, you can compare the effects of market volatilities on JPMorgan Chase and EXPEDIA 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 EXPEDIA. Check out your portfolio center. Please also check ongoing floating volatility patterns of JPMorgan Chase and EXPEDIA.
Diversification Opportunities for JPMorgan Chase and EXPEDIA
-0.77 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between JPMorgan and EXPEDIA is -0.77. Overlapping area represents the amount of risk that can be diversified away by holding JPMorgan Chase Co and EXPEDIA GROUP INC in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on EXPEDIA GROUP INC 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 EXPEDIA. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of EXPEDIA GROUP INC has no effect on the direction of JPMorgan Chase i.e., JPMorgan Chase and EXPEDIA go up and down completely randomly.
Pair Corralation between JPMorgan Chase and EXPEDIA
Considering the 90-day investment horizon JPMorgan Chase Co is expected to generate 2.52 times more return on investment than EXPEDIA. However, JPMorgan Chase is 2.52 times more volatile than EXPEDIA GROUP INC. It trades about 0.1 of its potential returns per unit of risk. EXPEDIA GROUP INC is currently generating about 0.0 per unit of risk. If you would invest 13,125 in JPMorgan Chase Co on August 31, 2024 and sell it today you would earn a total of 11,847 from holding JPMorgan Chase Co or generate 90.26% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Weak |
| Accuracy | 99.16% |
| Values | Daily Returns |
JPMorgan Chase Co vs. EXPEDIA GROUP INC
Performance |
| Timeline |
| JPMorgan Chase |
| EXPEDIA GROUP INC |
JPMorgan Chase and EXPEDIA Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with JPMorgan Chase and EXPEDIA
The main advantage of trading using opposite JPMorgan Chase and EXPEDIA positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if JPMorgan Chase position performs unexpectedly, EXPEDIA 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 EXPEDIA will offset losses from the drop in EXPEDIA's long position.| JPMorgan Chase vs. Citigroup | JPMorgan Chase vs. Wells Fargo | JPMorgan Chase vs. Toronto Dominion Bank | JPMorgan Chase vs. Nu Holdings |
| EXPEDIA vs. Definitive Healthcare Corp | EXPEDIA vs. Pinterest | EXPEDIA vs. Summit Materials | EXPEDIA vs. Eldorado Gold Corp |
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 Alpha Finder module to use alpha and beta coefficients to find investment opportunities after accounting for the risk.
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