Correlation Between Juniata Valley and CI Financial
Can any of the company-specific risk be diversified away by investing in both Juniata Valley and CI Financial 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 Juniata Valley and CI Financial into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Juniata Valley Financial and CI Financial Corp, you can compare the effects of market volatilities on Juniata Valley and CI Financial 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 Juniata Valley with a short position of CI Financial. Check out your portfolio center. Please also check ongoing floating volatility patterns of Juniata Valley and CI Financial.
Diversification Opportunities for Juniata Valley and CI Financial
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Juniata and CIXXF is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Juniata Valley Financial and CI Financial Corp in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on CI Financial Corp and Juniata Valley 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 Juniata Valley Financial are associated (or correlated) with CI Financial. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of CI Financial Corp has no effect on the direction of Juniata Valley i.e., Juniata Valley and CI Financial go up and down completely randomly.
Pair Corralation between Juniata Valley and CI Financial
If you would invest 1,194 in Juniata Valley Financial on September 12, 2024 and sell it today you would earn a total of 165.00 from holding Juniata Valley Financial or generate 13.82% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 1.59% |
| Values | Daily Returns |
Juniata Valley Financial vs. CI Financial Corp
Performance |
| Timeline |
| Juniata Valley Financial |
| CI Financial Corp |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
Juniata Valley and CI Financial Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Juniata Valley and CI Financial
The main advantage of trading using opposite Juniata Valley and CI Financial positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Juniata Valley position performs unexpectedly, CI Financial 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 CI Financial will offset losses from the drop in CI Financial's long position.| Juniata Valley vs. FNB Inc | Juniata Valley vs. Apollo Bancorp | Juniata Valley vs. Commercial National Financial | Juniata Valley vs. Eastern Michigan Financial |
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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 Cryptocurrency Center module to build and monitor diversified portfolio of extremely risky digital assets and cryptocurrency.
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