Correlation Between Jackson Financial and GENERAL
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By analyzing existing cross correlation between Jackson Financial and GENERAL MTRS FINL, you can compare the effects of market volatilities on Jackson Financial and GENERAL 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 GENERAL. Check out your portfolio center. Please also check ongoing floating volatility patterns of Jackson Financial and GENERAL.
Diversification Opportunities for Jackson Financial and GENERAL
-0.04 | Correlation Coefficient |
Good diversification
The 3 months correlation between Jackson and GENERAL is -0.04. Overlapping area represents the amount of risk that can be diversified away by holding Jackson Financial and GENERAL MTRS FINL in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on GENERAL MTRS FINL 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 GENERAL. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of GENERAL MTRS FINL has no effect on the direction of Jackson Financial i.e., Jackson Financial and GENERAL go up and down completely randomly.
Pair Corralation between Jackson Financial and GENERAL
Assuming the 90 days trading horizon Jackson Financial is expected to generate 0.86 times more return on investment than GENERAL. However, Jackson Financial is 1.16 times less risky than GENERAL. It trades about 0.04 of its potential returns per unit of risk. GENERAL MTRS FINL is currently generating about -0.6 per unit of risk. If you would invest 2,724 in Jackson Financial on September 5, 2024 and sell it today you would earn a total of 11.00 from holding Jackson Financial or generate 0.4% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 28.57% |
| Values | Daily Returns |
Jackson Financial vs. GENERAL MTRS FINL
Performance |
| Timeline |
| Jackson Financial |
| GENERAL MTRS FINL |
Jackson Financial and GENERAL Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Jackson Financial and GENERAL
The main advantage of trading using opposite Jackson Financial and GENERAL positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Jackson Financial position performs unexpectedly, GENERAL 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 GENERAL will offset losses from the drop in GENERAL's long position.| Jackson Financial vs. NRG Energy | Jackson Financial vs. United Utilities Group | Jackson Financial vs. Aris Water Solutions | Jackson Financial vs. Western Midstream Partners |
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 Top Crypto Exchanges module to search and analyze digital assets across top global cryptocurrency exchanges.
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