Correlation Between Juniata Valley and 57667JAA0
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By analyzing existing cross correlation between Juniata Valley Financial and US57667JAA07, you can compare the effects of market volatilities on Juniata Valley and 57667JAA0 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 57667JAA0. Check out your portfolio center. Please also check ongoing floating volatility patterns of Juniata Valley and 57667JAA0.
Diversification Opportunities for Juniata Valley and 57667JAA0
-0.56 | Correlation Coefficient |
Excellent diversification
The 3 months correlation between Juniata and 57667JAA0 is -0.56. Overlapping area represents the amount of risk that can be diversified away by holding Juniata Valley Financial and US57667JAA07 in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on US57667JAA07 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 57667JAA0. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of US57667JAA07 has no effect on the direction of Juniata Valley i.e., Juniata Valley and 57667JAA0 go up and down completely randomly.
Pair Corralation between Juniata Valley and 57667JAA0
Given the investment horizon of 90 days Juniata Valley Financial is expected to generate 1.8 times more return on investment than 57667JAA0. However, Juniata Valley is 1.8 times more volatile than US57667JAA07. It trades about 0.25 of its potential returns per unit of risk. US57667JAA07 is currently generating about -0.23 per unit of risk. If you would invest 1,205 in Juniata Valley Financial on September 2, 2024 and sell it today you would earn a total of 145.00 from holding Juniata Valley Financial or generate 12.03% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 95.24% |
| Values | Daily Returns |
Juniata Valley Financial vs. US57667JAA07
Performance |
| Timeline |
| Juniata Valley Financial |
| US57667JAA07 |
Juniata Valley and 57667JAA0 Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Juniata Valley and 57667JAA0
The main advantage of trading using opposite Juniata Valley and 57667JAA0 positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Juniata Valley position performs unexpectedly, 57667JAA0 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 57667JAA0 will offset losses from the drop in 57667JAA0'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 |
| 57667JAA0 vs. Juniata Valley Financial | 57667JAA0 vs. Arrow Financial | 57667JAA0 vs. BCB Bancorp | 57667JAA0 vs. Commonwealth Bank of |
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..
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