Correlation Between Jackson Financial and JPMORGAN
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By analyzing existing cross correlation between Jackson Financial and JPMORGAN CHASE CO, you can compare the effects of market volatilities on Jackson Financial and JPMORGAN 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 JPMORGAN. Check out your portfolio center. Please also check ongoing floating volatility patterns of Jackson Financial and JPMORGAN.
Diversification Opportunities for Jackson Financial and JPMORGAN
-0.36 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Jackson and JPMORGAN is -0.36. Overlapping area represents the amount of risk that can be diversified away by holding Jackson Financial and JPMORGAN CHASE CO in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on JPMORGAN CHASE CO 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 JPMORGAN. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of JPMORGAN CHASE CO has no effect on the direction of Jackson Financial i.e., Jackson Financial and JPMORGAN go up and down completely randomly.
Pair Corralation between Jackson Financial and JPMORGAN
Assuming the 90 days trading horizon Jackson Financial is expected to generate 0.44 times more return on investment than JPMORGAN. However, Jackson Financial is 2.28 times less risky than JPMORGAN. It trades about 0.08 of its potential returns per unit of risk. JPMORGAN CHASE CO is currently generating about -0.23 per unit of risk. If you would invest 2,724 in Jackson Financial on September 3, 2024 and sell it today you would earn a total of 23.00 from holding Jackson Financial or generate 0.84% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 90.0% |
| Values | Daily Returns |
Jackson Financial vs. JPMORGAN CHASE CO
Performance |
| Timeline |
| Jackson Financial |
| JPMORGAN CHASE CO |
Jackson Financial and JPMORGAN Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Jackson Financial and JPMORGAN
The main advantage of trading using opposite Jackson Financial and JPMORGAN positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Jackson Financial position performs unexpectedly, JPMORGAN 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 JPMORGAN will offset losses from the drop in JPMORGAN's long position.| Jackson Financial vs. Analog Devices | Jackson Financial vs. Tencent Music Entertainment | Jackson Financial vs. RBC Bearings Incorporated | Jackson Financial vs. BioNTech SE |
| JPMORGAN vs. AEP TEX INC | JPMORGAN vs. US BANK NATIONAL | JPMORGAN vs. Jackson Financial | JPMORGAN 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 ETFs module to find actively traded Exchange Traded Funds (ETF) from around the world.
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