Correlation Between Jupiter Fund and Mulberry Group
Can any of the company-specific risk be diversified away by investing in both Jupiter Fund and Mulberry Group 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 Mulberry Group 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 Mulberry Group PLC, you can compare the effects of market volatilities on Jupiter Fund and Mulberry Group 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 Mulberry Group. Check out your portfolio center. Please also check ongoing floating volatility patterns of Jupiter Fund and Mulberry Group.
Diversification Opportunities for Jupiter Fund and Mulberry Group
0.18 | Correlation Coefficient |
Average diversification
The 3 months correlation between Jupiter and Mulberry is 0.18. Overlapping area represents the amount of risk that can be diversified away by holding Jupiter Fund Management and Mulberry Group PLC in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Mulberry Group PLC 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 Mulberry Group. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Mulberry Group PLC has no effect on the direction of Jupiter Fund i.e., Jupiter Fund and Mulberry Group go up and down completely randomly.
Pair Corralation between Jupiter Fund and Mulberry Group
Assuming the 90 days trading horizon Jupiter Fund Management is expected to under-perform the Mulberry Group. In addition to that, Jupiter Fund is 3.13 times more volatile than Mulberry Group PLC. It trades about -0.08 of its total potential returns per unit of risk. Mulberry Group PLC is currently generating about -0.11 per unit of volatility. If you would invest 10,700 in Mulberry Group PLC on October 13, 2024 and sell it today you would lose (200.00) from holding Mulberry Group PLC or give up 1.87% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Jupiter Fund Management vs. Mulberry Group PLC
Performance |
| Timeline |
| Jupiter Fund Management |
| Mulberry Group PLC |
Jupiter Fund and Mulberry Group Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Jupiter Fund and Mulberry Group
The main advantage of trading using opposite Jupiter Fund and Mulberry Group positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Jupiter Fund position performs unexpectedly, Mulberry Group 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 Mulberry Group will offset losses from the drop in Mulberry Group's long position.| Jupiter Fund vs. Ebro Foods | Jupiter Fund vs. Associated British Foods | Jupiter Fund vs. Tyson Foods Cl | Jupiter Fund vs. Bell Food Group |
| Mulberry Group vs. Jupiter Fund Management | Mulberry Group vs. Coeur Mining | Mulberry Group vs. Jacquet Metal Service | Mulberry Group vs. Rheinmetall AG |
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 Funds Screener module to find actively-traded funds from around the world traded on over 30 global exchanges.
Other Complementary Tools
| Content Syndication Quickly integrate customizable finance content to your own investment portal | |
| Technical Analysis Check basic technical indicators and analysis based on most latest market data | |
| Sync Your Broker Sync your existing holdings, watchlists, positions or portfolios from thousands of online brokerage services, banks, investment account aggregators and robo-advisors. | |
| My Watchlist Analysis Analyze my current watchlist and to refresh optimization strategy. Macroaxis watchlist is based on self-learning algorithm to remember stocks you like | |
| Portfolio Comparator Compare the composition, asset allocations and performance of any two portfolios in your account |