Correlation Between Juniata Valley and 594918BE3
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By analyzing existing cross correlation between Juniata Valley Financial and MICROSOFT P 4, you can compare the effects of market volatilities on Juniata Valley and 594918BE3 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 594918BE3. Check out your portfolio center. Please also check ongoing floating volatility patterns of Juniata Valley and 594918BE3.
Diversification Opportunities for Juniata Valley and 594918BE3
-0.5 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Juniata and 594918BE3 is -0.5. Overlapping area represents the amount of risk that can be diversified away by holding Juniata Valley Financial and MICROSOFT P 4 in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on MICROSOFT P 4 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 594918BE3. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of MICROSOFT P 4 has no effect on the direction of Juniata Valley i.e., Juniata Valley and 594918BE3 go up and down completely randomly.
Pair Corralation between Juniata Valley and 594918BE3
Given the investment horizon of 90 days Juniata Valley Financial is expected to under-perform the 594918BE3. But the otc stock apears to be less risky and, when comparing its historical volatility, Juniata Valley Financial is 1.79 times less risky than 594918BE3. The otc stock trades about -0.08 of its potential returns per unit of risk. The MICROSOFT P 4 is currently generating about 0.2 of returns per unit of risk over similar time horizon. If you would invest 8,094 in MICROSOFT P 4 on October 25, 2024 and sell it today you would earn a total of 856.00 from holding MICROSOFT P 4 or generate 10.58% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 94.74% |
| Values | Daily Returns |
Juniata Valley Financial vs. MICROSOFT P 4
Performance |
| Timeline |
| Juniata Valley Financial |
| MICROSOFT P 4 |
Juniata Valley and 594918BE3 Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Juniata Valley and 594918BE3
The main advantage of trading using opposite Juniata Valley and 594918BE3 positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Juniata Valley position performs unexpectedly, 594918BE3 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 594918BE3 will offset losses from the drop in 594918BE3's long position.| Juniata Valley vs. DTF Tax Free | Juniata Valley vs. MFS Investment Grade | Juniata Valley vs. Eaton Vance National | Juniata Valley vs. Nuveen California Select |
| 594918BE3 vs. Perseus Mining Limited | 594918BE3 vs. Exchange Bankshares | 594918BE3 vs. Juniata Valley Financial | 594918BE3 vs. Harmony Gold Mining |
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 Portfolio Anywhere module to track or share privately all of your investments from the convenience of any device.
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