Correlation Between Juniata Valley and ASSURED
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By analyzing existing cross correlation between Juniata Valley Financial and ASSURED GTY HLDGS, you can compare the effects of market volatilities on Juniata Valley and ASSURED 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 ASSURED. Check out your portfolio center. Please also check ongoing floating volatility patterns of Juniata Valley and ASSURED.
Diversification Opportunities for Juniata Valley and ASSURED
-0.17 | Correlation Coefficient |
Good diversification
The 3 months correlation between Juniata and ASSURED is -0.17. Overlapping area represents the amount of risk that can be diversified away by holding Juniata Valley Financial and ASSURED GTY HLDGS in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on ASSURED GTY HLDGS 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 ASSURED. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of ASSURED GTY HLDGS has no effect on the direction of Juniata Valley i.e., Juniata Valley and ASSURED go up and down completely randomly.
Pair Corralation between Juniata Valley and ASSURED
Given the investment horizon of 90 days Juniata Valley Financial is expected to generate 1.75 times more return on investment than ASSURED. However, Juniata Valley is 1.75 times more volatile than ASSURED GTY HLDGS. It trades about 0.2 of its potential returns per unit of risk. ASSURED GTY HLDGS is currently generating about 0.01 per unit of risk. If you would invest 1,201 in Juniata Valley Financial on August 28, 2024 and sell it today you would earn a total of 104.00 from holding Juniata Valley Financial or generate 8.66% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 95.24% |
| Values | Daily Returns |
Juniata Valley Financial vs. ASSURED GTY HLDGS
Performance |
| Timeline |
| Juniata Valley Financial |
| ASSURED GTY HLDGS |
Juniata Valley and ASSURED Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Juniata Valley and ASSURED
The main advantage of trading using opposite Juniata Valley and ASSURED positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Juniata Valley position performs unexpectedly, ASSURED 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 ASSURED will offset losses from the drop in ASSURED's long position.| Juniata Valley vs. Invesco High Income | Juniata Valley vs. Blackrock Muniholdings Ny | Juniata Valley vs. MFS Investment Grade | Juniata Valley vs. Federated Premier Municipal |
| ASSURED vs. Playtika Holding Corp | ASSURED vs. Jabil Circuit | ASSURED vs. Arrow Electronics | ASSURED vs. Nordic Semiconductor ASA |
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 Global Markets Map module to get a quick overview of global market snapshot using zoomable world map. Drill down to check world indexes.
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