Correlation Between Jackson Financial and 00912XAY0
Specify exactly 2 symbols:
By analyzing existing cross correlation between Jackson Financial and AIR LEASE P, you can compare the effects of market volatilities on Jackson Financial and 00912XAY0 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 00912XAY0. Check out your portfolio center. Please also check ongoing floating volatility patterns of Jackson Financial and 00912XAY0.
Diversification Opportunities for Jackson Financial and 00912XAY0
-0.42 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Jackson and 00912XAY0 is -0.42. Overlapping area represents the amount of risk that can be diversified away by holding Jackson Financial and AIR LEASE P in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on AIR LEASE P 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 00912XAY0. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of AIR LEASE P has no effect on the direction of Jackson Financial i.e., Jackson Financial and 00912XAY0 go up and down completely randomly.
Pair Corralation between Jackson Financial and 00912XAY0
Assuming the 90 days trading horizon Jackson Financial is expected to generate 1.89 times more return on investment than 00912XAY0. However, Jackson Financial is 1.89 times more volatile than AIR LEASE P. It trades about 0.1 of its potential returns per unit of risk. AIR LEASE P is currently generating about 0.03 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 | Very Weak |
| Accuracy | 95.98% |
| Values | Daily Returns |
Jackson Financial vs. AIR LEASE P
Performance |
| Timeline |
| Jackson Financial |
| AIR LEASE P |
Jackson Financial and 00912XAY0 Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Jackson Financial and 00912XAY0
The main advantage of trading using opposite Jackson Financial and 00912XAY0 positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Jackson Financial position performs unexpectedly, 00912XAY0 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 00912XAY0 will offset losses from the drop in 00912XAY0's long position.| Jackson Financial vs. Asure Software | Jackson Financial vs. Assurant | Jackson Financial vs. Sun Life Financial | Jackson Financial vs. GoHealth |
| 00912XAY0 vs. AEP TEX INC | 00912XAY0 vs. US BANK NATIONAL | 00912XAY0 vs. Jackson Financial | 00912XAY0 vs. MetLife |
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 ETF Categories module to list of ETF categories grouped based on various criteria, such as the investment strategy or type of investments.
Other Complementary Tools
| Transaction History View history of all your transactions and understand their impact on performance | |
| Performance Analysis Check effects of mean-variance optimization against your current asset allocation | |
| Global Markets Map Get a quick overview of global market snapshot using zoomable world map. Drill down to check world indexes | |
| Top Crypto Exchanges Search and analyze digital assets across top global cryptocurrency exchanges | |
| ETF Categories List of ETF categories grouped based on various criteria, such as the investment strategy or type of investments |