Correlation Between Jhancock Short and Segall Bryant
Can any of the company-specific risk be diversified away by investing in both Jhancock Short and Segall Bryant at the same time? Although using a correlation coefficient on its own may not help to predict future stock returns, this module helps to understand the diversifiable risk of combining Jhancock Short and Segall Bryant into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Jhancock Short Duration and Segall Bryant Hamill, you can compare the effects of market volatilities on Jhancock Short and Segall Bryant 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 Jhancock Short with a short position of Segall Bryant. Check out your portfolio center. Please also check ongoing floating volatility patterns of Jhancock Short and Segall Bryant.
Diversification Opportunities for Jhancock Short and Segall Bryant
-0.09 | Correlation Coefficient |
Good diversification
The 3 months correlation between Jhancock and Segall is -0.09. Overlapping area represents the amount of risk that can be diversified away by holding Jhancock Short Duration and Segall Bryant Hamill in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Segall Bryant Hamill and Jhancock Short 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 Jhancock Short Duration are associated (or correlated) with Segall Bryant. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Segall Bryant Hamill has no effect on the direction of Jhancock Short i.e., Jhancock Short and Segall Bryant go up and down completely randomly.
Pair Corralation between Jhancock Short and Segall Bryant
Assuming the 90 days horizon Jhancock Short is expected to generate 36.46 times less return on investment than Segall Bryant. But when comparing it to its historical volatility, Jhancock Short Duration is 12.73 times less risky than Segall Bryant. It trades about 0.03 of its potential returns per unit of risk. Segall Bryant Hamill is currently generating about 0.09 of returns per unit of risk over similar time horizon. If you would invest 1,472 in Segall Bryant Hamill on September 12, 2024 and sell it today you would earn a total of 113.00 from holding Segall Bryant Hamill or generate 7.68% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Jhancock Short Duration vs. Segall Bryant Hamill
Performance |
| Timeline |
| Jhancock Short Duration |
| Segall Bryant Hamill |
Jhancock Short and Segall Bryant Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Jhancock Short and Segall Bryant
The main advantage of trading using opposite Jhancock Short and Segall Bryant positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Jhancock Short position performs unexpectedly, Segall Bryant 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 Segall Bryant will offset losses from the drop in Segall Bryant's long position.| Jhancock Short vs. Rbc Global Equity | Jhancock Short vs. Scharf Fund Retail | Jhancock Short vs. Ab Fixed Income Shares | Jhancock Short vs. Locorr Dynamic Equity |
| Segall Bryant vs. T Rowe Price | Segall Bryant vs. Artisan Small Cap | Segall Bryant vs. Qs Moderate Growth | Segall Bryant vs. Praxis Growth Index |
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 AI Portfolio Architect module to use AI to generate optimal portfolios and find profitable investment opportunities.
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