Correlation Between JPMorgan Chase and SIMON
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By analyzing existing cross correlation between JPMorgan Chase Co and SIMON PPTY GROUP, you can compare the effects of market volatilities on JPMorgan Chase and SIMON 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 SIMON. Check out your portfolio center. Please also check ongoing floating volatility patterns of JPMorgan Chase and SIMON.
Diversification Opportunities for JPMorgan Chase and SIMON
-0.54 | Correlation Coefficient |
Excellent diversification
The 3 months correlation between JPMorgan and SIMON is -0.54. Overlapping area represents the amount of risk that can be diversified away by holding JPMorgan Chase Co and SIMON PPTY GROUP in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on SIMON PPTY GROUP 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 SIMON. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of SIMON PPTY GROUP has no effect on the direction of JPMorgan Chase i.e., JPMorgan Chase and SIMON go up and down completely randomly.
Pair Corralation between JPMorgan Chase and SIMON
Considering the 90-day investment horizon JPMorgan Chase Co is expected to under-perform the SIMON. In addition to that, JPMorgan Chase is 2.28 times more volatile than SIMON PPTY GROUP. It trades about -0.13 of its total potential returns per unit of risk. SIMON PPTY GROUP is currently generating about 0.14 per unit of volatility. If you would invest 8,226 in SIMON PPTY GROUP on November 27, 2024 and sell it today you would earn a total of 113.00 from holding SIMON PPTY GROUP or generate 1.37% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 76.19% |
| Values | Daily Returns |
JPMorgan Chase Co vs. SIMON PPTY GROUP
Performance |
| Timeline |
| JPMorgan Chase |
| SIMON PPTY GROUP |
JPMorgan Chase and SIMON Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with JPMorgan Chase and SIMON
The main advantage of trading using opposite JPMorgan Chase and SIMON positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if JPMorgan Chase position performs unexpectedly, SIMON 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 SIMON will offset losses from the drop in SIMON's long position.| JPMorgan Chase vs. Citigroup | JPMorgan Chase vs. Wells Fargo | JPMorgan Chase vs. Toronto Dominion Bank | JPMorgan Chase vs. Royal Bank of |
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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 Theme Ratings module to determine theme ratings based on digital equity recommendations. Macroaxis theme ratings are based on combination of fundamental analysis and risk-adjusted market performance.
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