Correlation Between Jackson Financial and Logiq
Can any of the company-specific risk be diversified away by investing in both Jackson Financial and Logiq 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 Logiq into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Jackson Financial and Logiq Inc, you can compare the effects of market volatilities on Jackson Financial and Logiq 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 Logiq. Check out your portfolio center. Please also check ongoing floating volatility patterns of Jackson Financial and Logiq.
Diversification Opportunities for Jackson Financial and Logiq
-0.81 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Jackson and Logiq is -0.81. Overlapping area represents the amount of risk that can be diversified away by holding Jackson Financial and Logiq Inc in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Logiq Inc 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 Logiq. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Logiq Inc has no effect on the direction of Jackson Financial i.e., Jackson Financial and Logiq go up and down completely randomly.
Pair Corralation between Jackson Financial and Logiq
Assuming the 90 days trading horizon Jackson Financial is expected to generate 0.05 times more return on investment than Logiq. However, Jackson Financial is 21.06 times less risky than Logiq. It trades about 0.1 of its potential returns per unit of risk. Logiq Inc is currently generating about 0.0 per unit of risk. If you would invest 2,201 in Jackson Financial on September 4, 2024 and sell it today you would earn a total of 529.00 from holding Jackson Financial or generate 24.03% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Significant |
| Accuracy | 99.73% |
| Values | Daily Returns |
Jackson Financial vs. Logiq Inc
Performance |
| Timeline |
| Jackson Financial |
| Logiq Inc |
Jackson Financial and Logiq Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Jackson Financial and Logiq
The main advantage of trading using opposite Jackson Financial and Logiq positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Jackson Financial position performs unexpectedly, Logiq 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 Logiq will offset losses from the drop in Logiq's long position.| Jackson Financial vs. Asure Software | Jackson Financial vs. Assurant | Jackson Financial vs. Sun Life Financial | Jackson Financial vs. GoHealth |
| Logiq vs. Tenet Fintech Group | Logiq vs. FansUnite Entertainment | Logiq vs. FingerMotion | Logiq vs. GoLogiq |
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 Bollinger Bands module to use Bollinger Bands indicator to analyze target price for a given investing horizon.
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