Correlation Between JPMorgan Chase and NetFlix
Specify exactly 2 symbols:
By analyzing existing cross correlation between JPMorgan Chase Co and NetFlix 3625 percent, you can compare the effects of market volatilities on JPMorgan Chase and NetFlix 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 NetFlix. Check out your portfolio center. Please also check ongoing floating volatility patterns of JPMorgan Chase and NetFlix.
Diversification Opportunities for JPMorgan Chase and NetFlix
-0.19 | Correlation Coefficient |
Good diversification
The 3 months correlation between JPMorgan and NetFlix is -0.19. Overlapping area represents the amount of risk that can be diversified away by holding JPMorgan Chase Co and NetFlix 3625 percent in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on NetFlix 3625 percent 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 NetFlix. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of NetFlix 3625 percent has no effect on the direction of JPMorgan Chase i.e., JPMorgan Chase and NetFlix go up and down completely randomly.
Pair Corralation between JPMorgan Chase and NetFlix
Considering the 90-day investment horizon JPMorgan Chase Co is expected to generate 3.35 times more return on investment than NetFlix. However, JPMorgan Chase is 3.35 times more volatile than NetFlix 3625 percent. It trades about 0.19 of its potential returns per unit of risk. NetFlix 3625 percent is currently generating about -0.32 per unit of risk. If you would invest 22,441 in JPMorgan Chase Co on August 31, 2024 and sell it today you would earn a total of 2,538 from holding JPMorgan Chase Co or generate 11.31% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 45.45% |
| Values | Daily Returns |
JPMorgan Chase Co vs. NetFlix 3625 percent
Performance |
| Timeline |
| JPMorgan Chase |
| NetFlix 3625 percent |
JPMorgan Chase and NetFlix Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with JPMorgan Chase and NetFlix
The main advantage of trading using opposite JPMorgan Chase and NetFlix positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if JPMorgan Chase position performs unexpectedly, NetFlix 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 NetFlix will offset losses from the drop in NetFlix's long position.| JPMorgan Chase vs. Citigroup | JPMorgan Chase vs. Wells Fargo | JPMorgan Chase vs. Toronto Dominion Bank | JPMorgan Chase vs. Nu Holdings |
| NetFlix vs. AEP TEX INC | NetFlix vs. US BANK NATIONAL | NetFlix vs. Bank of America | NetFlix vs. GE Aerospace |
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 Share Portfolio module to track or share privately all of your investments from the convenience of any device.
Other Complementary Tools
| Portfolio Volatility Check portfolio volatility and analyze historical return density to properly model market risk | |
| Price Ceiling Movement Calculate and plot Price Ceiling Movement for different equity instruments | |
| Sign In To Macroaxis Sign in to explore Macroaxis' wealth optimization platform and fintech modules | |
| ETFs Find actively traded Exchange Traded Funds (ETF) from around the world | |
| Piotroski F Score Get Piotroski F Score based on the binary analysis strategy of nine different fundamentals |