Correlation Between JS Global and Atlas Insurance
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By analyzing existing cross correlation between JS Global Banking and Atlas Insurance, you can compare the effects of market volatilities on JS Global and Atlas Insurance 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 JS Global with a short position of Atlas Insurance. Check out your portfolio center. Please also check ongoing floating volatility patterns of JS Global and Atlas Insurance.
Diversification Opportunities for JS Global and Atlas Insurance
0.6 | Correlation Coefficient |
Poor diversification
The 3 months correlation between JSGBETF and Atlas is 0.6. Overlapping area represents the amount of risk that can be diversified away by holding JS Global Banking and Atlas Insurance in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Atlas Insurance and JS Global 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 JS Global Banking are associated (or correlated) with Atlas Insurance. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Atlas Insurance has no effect on the direction of JS Global i.e., JS Global and Atlas Insurance go up and down completely randomly.
Pair Corralation between JS Global and Atlas Insurance
Assuming the 90 days trading horizon JS Global Banking is expected to generate 1.29 times more return on investment than Atlas Insurance. However, JS Global is 1.29 times more volatile than Atlas Insurance. It trades about 0.14 of its potential returns per unit of risk. Atlas Insurance is currently generating about 0.1 per unit of risk. If you would invest 1,009 in JS Global Banking on August 24, 2024 and sell it today you would earn a total of 1,041 from holding JS Global Banking or generate 103.17% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Significant |
| Accuracy | 56.57% |
| Values | Daily Returns |
JS Global Banking vs. Atlas Insurance
Performance |
| Timeline |
| JS Global Banking |
| Atlas Insurance |
JS Global and Atlas Insurance Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with JS Global and Atlas Insurance
The main advantage of trading using opposite JS Global and Atlas Insurance positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if JS Global position performs unexpectedly, Atlas Insurance 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 Atlas Insurance will offset losses from the drop in Atlas Insurance's long position.| JS Global vs. Habib Insurance | JS Global vs. Ghandhara Automobile | JS Global vs. Century Insurance | JS Global vs. Reliance Weaving Mills |
| Atlas Insurance vs. Oil and Gas | Atlas Insurance vs. Lotte Chemical Pakistan | Atlas Insurance vs. Ghani Chemical Industries | Atlas Insurance vs. Unity Foods |
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 Headlines Timeline module to stay connected to all market stories and filter out noise. Drill down to analyze hype elasticity.
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