Correlation Between Jupiter Fund and Sparebank
Can any of the company-specific risk be diversified away by investing in both Jupiter Fund and Sparebank 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 Jupiter Fund and Sparebank into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Jupiter Fund Management and Sparebank 1 SR, you can compare the effects of market volatilities on Jupiter Fund and Sparebank 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 Jupiter Fund with a short position of Sparebank. Check out your portfolio center. Please also check ongoing floating volatility patterns of Jupiter Fund and Sparebank.
Diversification Opportunities for Jupiter Fund and Sparebank
-0.5 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Jupiter and Sparebank is -0.5. Overlapping area represents the amount of risk that can be diversified away by holding Jupiter Fund Management and Sparebank 1 SR in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Sparebank 1 SR and Jupiter Fund 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 Jupiter Fund Management are associated (or correlated) with Sparebank. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Sparebank 1 SR has no effect on the direction of Jupiter Fund i.e., Jupiter Fund and Sparebank go up and down completely randomly.
Pair Corralation between Jupiter Fund and Sparebank
Assuming the 90 days trading horizon Jupiter Fund Management is expected to generate 0.79 times more return on investment than Sparebank. However, Jupiter Fund Management is 1.27 times less risky than Sparebank. It trades about 0.17 of its potential returns per unit of risk. Sparebank 1 SR is currently generating about -0.02 per unit of risk. If you would invest 8,010 in Jupiter Fund Management on September 2, 2024 and sell it today you would earn a total of 340.00 from holding Jupiter Fund Management or generate 4.24% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Jupiter Fund Management vs. Sparebank 1 SR
Performance |
| Timeline |
| Jupiter Fund Management |
| Sparebank 1 SR |
Jupiter Fund and Sparebank Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Jupiter Fund and Sparebank
The main advantage of trading using opposite Jupiter Fund and Sparebank positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Jupiter Fund position performs unexpectedly, Sparebank 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 Sparebank will offset losses from the drop in Sparebank's long position.| Jupiter Fund vs. Toyota Motor Corp | Jupiter Fund vs. SoftBank Group Corp | Jupiter Fund vs. OTP Bank Nyrt | Jupiter Fund vs. Las Vegas Sands |
| Sparebank vs. Uniper SE | Sparebank vs. Mulberry Group PLC | Sparebank vs. London Security Plc | Sparebank vs. Triad Group PLC |
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 Portfolio File Import module to quickly import all of your third-party portfolios from your local drive in csv format.
Other Complementary Tools
| Volatility Analysis Get historical volatility and risk analysis based on latest market data | |
| Portfolio Manager State of the art Portfolio Manager to monitor and improve performance of your invested capital | |
| Portfolio Analyzer Portfolio analysis module that provides access to portfolio diagnostics and optimization engine | |
| Top Crypto Exchanges Search and analyze digital assets across top global cryptocurrency exchanges | |
| Analyst Advice Analyst recommendations and target price estimates broken down by several categories |