Correlation Between Juniata Valley and JEFFERIES
Specify exactly 2 symbols:
By analyzing existing cross correlation between Juniata Valley Financial and JEFFERIES GROUP INC, you can compare the effects of market volatilities on Juniata Valley and JEFFERIES 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 JEFFERIES. Check out your portfolio center. Please also check ongoing floating volatility patterns of Juniata Valley and JEFFERIES.
Diversification Opportunities for Juniata Valley and JEFFERIES
-0.05 | Correlation Coefficient |
Good diversification
The 3 months correlation between Juniata and JEFFERIES is -0.05. Overlapping area represents the amount of risk that can be diversified away by holding Juniata Valley Financial and JEFFERIES GROUP INC in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on JEFFERIES GROUP INC 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 JEFFERIES. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of JEFFERIES GROUP INC has no effect on the direction of Juniata Valley i.e., Juniata Valley and JEFFERIES go up and down completely randomly.
Pair Corralation between Juniata Valley and JEFFERIES
Given the investment horizon of 90 days Juniata Valley Financial is expected to under-perform the JEFFERIES. But the otc stock apears to be less risky and, when comparing its historical volatility, Juniata Valley Financial is 2.35 times less risky than JEFFERIES. The otc stock trades about -0.11 of its potential returns per unit of risk. The JEFFERIES GROUP INC is currently generating about 0.26 of returns per unit of risk over similar time horizon. If you would invest 10,362 in JEFFERIES GROUP INC on October 23, 2024 and sell it today you would earn a total of 578.00 from holding JEFFERIES GROUP INC or generate 5.58% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 33.33% |
| Values | Daily Returns |
Juniata Valley Financial vs. JEFFERIES GROUP INC
Performance |
| Timeline |
| Juniata Valley Financial |
| JEFFERIES GROUP INC |
Juniata Valley and JEFFERIES Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Juniata Valley and JEFFERIES
The main advantage of trading using opposite Juniata Valley and JEFFERIES positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Juniata Valley position performs unexpectedly, JEFFERIES 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 JEFFERIES will offset losses from the drop in JEFFERIES'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 |
| JEFFERIES vs. Juniata Valley Financial | JEFFERIES vs. Summit Bank Group | JEFFERIES vs. Encore Capital Group | JEFFERIES vs. Gatos Silver |
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 Sync Your Broker module to sync your existing holdings, watchlists, positions or portfolios from thousands of online brokerage services, banks, investment account aggregators and robo-advisors..
Other Complementary Tools
| FinTech Suite Use AI to screen and filter profitable investment opportunities | |
| Risk-Return Analysis View associations between returns expected from investment and the risk you assume | |
| Sectors List of equity sectors categorizing publicly traded companies based on their primary business activities | |
| Financial Widgets Easily integrated Macroaxis content with over 30 different plug-and-play financial widgets | |
| Portfolio Rebalancing Analyze risk-adjusted returns against different time horizons to find asset-allocation targets |