Correlation Between Jackson Financial and JEFFERIES
Specify exactly 2 symbols:
By analyzing existing cross correlation between Jackson Financial and JEFFERIES GROUP INC, you can compare the effects of market volatilities on Jackson Financial and JEFFERIES 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 JEFFERIES. Check out your portfolio center. Please also check ongoing floating volatility patterns of Jackson Financial and JEFFERIES.
Diversification Opportunities for Jackson Financial and JEFFERIES
-0.57 | Correlation Coefficient |
Excellent diversification
The 3 months correlation between Jackson and JEFFERIES is -0.57. Overlapping area represents the amount of risk that can be diversified away by holding Jackson Financial and JEFFERIES GROUP INC in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on JEFFERIES GROUP 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 JEFFERIES. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of JEFFERIES GROUP INC has no effect on the direction of Jackson Financial i.e., Jackson Financial and JEFFERIES go up and down completely randomly.
Pair Corralation between Jackson Financial and JEFFERIES
Assuming the 90 days trading horizon Jackson Financial is expected to generate 1.06 times more return on investment than JEFFERIES. However, Jackson Financial is 1.06 times more volatile than JEFFERIES GROUP INC. It trades about 0.05 of its potential returns per unit of risk. JEFFERIES GROUP INC is currently generating about 0.0 per unit of risk. If you would invest 2,208 in Jackson Financial on September 3, 2024 and sell it today you would earn a total of 539.00 from holding Jackson Financial or generate 24.41% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 90.91% |
| Values | Daily Returns |
Jackson Financial vs. JEFFERIES GROUP INC
Performance |
| Timeline |
| Jackson Financial |
| JEFFERIES GROUP INC |
Jackson Financial and JEFFERIES Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Jackson Financial and JEFFERIES
The main advantage of trading using opposite Jackson Financial and JEFFERIES positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Jackson Financial position performs unexpectedly, JEFFERIES 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 JEFFERIES will offset losses from the drop in JEFFERIES'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 |
| JEFFERIES vs. AEP TEX INC | JEFFERIES vs. US BANK NATIONAL | JEFFERIES vs. Jackson Financial | JEFFERIES 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 Commodity Directory module to find actively traded commodities issued by global exchanges.
Other Complementary Tools
| Idea Optimizer Use advanced portfolio builder with pre-computed micro ideas to build optimal portfolio | |
| Volatility Analysis Get historical volatility and risk analysis based on latest market data | |
| Analyst Advice Analyst recommendations and target price estimates broken down by several categories | |
| Portfolio Manager State of the art Portfolio Manager to monitor and improve performance of your invested capital | |
| Global Markets Map Get a quick overview of global market snapshot using zoomable world map. Drill down to check world indexes |