Correlation Between Jackson Financial and BERKSHIRE
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By analyzing existing cross correlation between Jackson Financial and BERKSHIRE HATHAWAY ENERGY, you can compare the effects of market volatilities on Jackson Financial and BERKSHIRE 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 BERKSHIRE. Check out your portfolio center. Please also check ongoing floating volatility patterns of Jackson Financial and BERKSHIRE.
Diversification Opportunities for Jackson Financial and BERKSHIRE
-0.7 | Correlation Coefficient |
Excellent diversification
The 3 months correlation between Jackson and BERKSHIRE is -0.7. Overlapping area represents the amount of risk that can be diversified away by holding Jackson Financial and BERKSHIRE HATHAWAY ENERGY in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on BERKSHIRE HATHAWAY ENERGY 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 BERKSHIRE. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of BERKSHIRE HATHAWAY ENERGY has no effect on the direction of Jackson Financial i.e., Jackson Financial and BERKSHIRE go up and down completely randomly.
Pair Corralation between Jackson Financial and BERKSHIRE
Assuming the 90 days trading horizon Jackson Financial is expected to generate 0.22 times more return on investment than BERKSHIRE. However, Jackson Financial is 4.64 times less risky than BERKSHIRE. It trades about 0.02 of its potential returns per unit of risk. BERKSHIRE HATHAWAY ENERGY is currently generating about -0.14 per unit of risk. If you would invest 2,724 in Jackson Financial on September 4, 2024 and sell it today you would earn a total of 6.00 from holding Jackson Financial or generate 0.22% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Weak |
| Accuracy | 95.24% |
| Values | Daily Returns |
Jackson Financial vs. BERKSHIRE HATHAWAY ENERGY
Performance |
| Timeline |
| Jackson Financial |
| BERKSHIRE HATHAWAY ENERGY |
Jackson Financial and BERKSHIRE Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Jackson Financial and BERKSHIRE
The main advantage of trading using opposite Jackson Financial and BERKSHIRE positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Jackson Financial position performs unexpectedly, BERKSHIRE 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 BERKSHIRE will offset losses from the drop in BERKSHIRE's long position.| Jackson Financial vs. Asure Software | Jackson Financial vs. Assurant | Jackson Financial vs. Sun Life Financial | Jackson Financial vs. GoHealth |
| BERKSHIRE vs. Catalyst Pharmaceuticals | BERKSHIRE vs. CECO Environmental Corp | BERKSHIRE vs. Tscan Therapeutics | BERKSHIRE vs. Spyre Therapeutics |
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 Manager module to state of the art Portfolio Manager to monitor and improve performance of your invested capital.
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