Correlation Between Jackson Financial and Flint Telecom
Can any of the company-specific risk be diversified away by investing in both Jackson Financial and Flint Telecom 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 Jackson Financial and Flint Telecom into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Jackson Financial and Flint Telecom Group, you can compare the effects of market volatilities on Jackson Financial and Flint Telecom 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 Jackson Financial with a short position of Flint Telecom. Check out your portfolio center. Please also check ongoing floating volatility patterns of Jackson Financial and Flint Telecom.
Diversification Opportunities for Jackson Financial and Flint Telecom
-0.69 | Correlation Coefficient |
Excellent diversification
The 3 months correlation between Jackson and Flint is -0.69. Overlapping area represents the amount of risk that can be diversified away by holding Jackson Financial and Flint Telecom Group in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Flint Telecom Group and Jackson Financial 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 Jackson Financial are associated (or correlated) with Flint Telecom. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Flint Telecom Group has no effect on the direction of Jackson Financial i.e., Jackson Financial and Flint Telecom go up and down completely randomly.
Pair Corralation between Jackson Financial and Flint Telecom
Assuming the 90 days trading horizon Jackson Financial is expected to generate 0.09 times more return on investment than Flint Telecom. However, Jackson Financial is 11.48 times less risky than Flint Telecom. It trades about 0.09 of its potential returns per unit of risk. Flint Telecom Group is currently generating about -0.01 per unit of risk. If you would invest 2,374 in Jackson Financial on September 4, 2024 and sell it today you would earn a total of 361.00 from holding Jackson Financial or generate 15.21% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Jackson Financial vs. Flint Telecom Group
Performance |
| Timeline |
| Jackson Financial |
| Flint Telecom Group |
Jackson Financial and Flint Telecom Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Jackson Financial and Flint Telecom
The main advantage of trading using opposite Jackson Financial and Flint Telecom positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Jackson Financial position performs unexpectedly, Flint Telecom 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 Flint Telecom will offset losses from the drop in Flint Telecom's long position.| Jackson Financial vs. Asure Software | Jackson Financial vs. Assurant | Jackson Financial vs. Sun Life Financial | Jackson Financial vs. GoHealth |
| Flint Telecom vs. Castellum | Flint Telecom vs. Datametrex AI Limited | Flint Telecom vs. TTEC Holdings | Flint Telecom vs. CLPS Inc |
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 Crypto Correlations module to use cryptocurrency correlation module to diversify your cryptocurrency portfolio across multiple coins.
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