Correlation Between JPMorgan Chase and Standard
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By analyzing existing cross correlation between JPMorgan Chase Co and Standard Chartered Plc, you can compare the effects of market volatilities on JPMorgan Chase and Standard 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 Standard. Check out your portfolio center. Please also check ongoing floating volatility patterns of JPMorgan Chase and Standard.
Diversification Opportunities for JPMorgan Chase and Standard
0.71 | Correlation Coefficient |
Poor diversification
The 3 months correlation between JPMorgan and Standard is 0.71. Overlapping area represents the amount of risk that can be diversified away by holding JPMorgan Chase Co and Standard Chartered Plc in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Standard Chartered Plc 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 Standard. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Standard Chartered Plc has no effect on the direction of JPMorgan Chase i.e., JPMorgan Chase and Standard go up and down completely randomly.
Pair Corralation between JPMorgan Chase and Standard
Considering the 90-day investment horizon JPMorgan Chase Co is expected to generate 0.61 times more return on investment than Standard. However, JPMorgan Chase Co is 1.64 times less risky than Standard. It trades about 0.05 of its potential returns per unit of risk. Standard Chartered Plc is currently generating about -0.48 per unit of risk. If you would invest 23,956 in JPMorgan Chase Co on September 13, 2024 and sell it today you would earn a total of 197.00 from holding JPMorgan Chase Co or generate 0.82% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Significant |
| Accuracy | 31.82% |
| Values | Daily Returns |
JPMorgan Chase Co vs. Standard Chartered Plc
Performance |
| Timeline |
| JPMorgan Chase |
| Standard Chartered Plc |
JPMorgan Chase and Standard Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with JPMorgan Chase and Standard
The main advantage of trading using opposite JPMorgan Chase and Standard positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if JPMorgan Chase position performs unexpectedly, Standard 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 Standard will offset losses from the drop in Standard'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 |
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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 Aroon Oscillator module to analyze current equity momentum using Aroon Oscillator and other momentum ratios.
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