Correlation Between Jackson Financial and 48126BAA1
Specify exactly 2 symbols:
By analyzing existing cross correlation between Jackson Financial and JP Morgan Chase, you can compare the effects of market volatilities on Jackson Financial and 48126BAA1 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 48126BAA1. Check out your portfolio center. Please also check ongoing floating volatility patterns of Jackson Financial and 48126BAA1.
Diversification Opportunities for Jackson Financial and 48126BAA1
-0.78 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Jackson and 48126BAA1 is -0.78. Overlapping area represents the amount of risk that can be diversified away by holding Jackson Financial and JP Morgan Chase in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on JP Morgan Chase 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 48126BAA1. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of JP Morgan Chase has no effect on the direction of Jackson Financial i.e., Jackson Financial and 48126BAA1 go up and down completely randomly.
Pair Corralation between Jackson Financial and 48126BAA1
Assuming the 90 days trading horizon Jackson Financial is expected to generate 0.43 times more return on investment than 48126BAA1. However, Jackson Financial is 2.31 times less risky than 48126BAA1. It trades about 0.04 of its potential returns per unit of risk. JP Morgan Chase is currently generating about -0.06 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 13.00 from holding Jackson Financial or generate 0.48% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Weak |
| Accuracy | 95.45% |
| Values | Daily Returns |
Jackson Financial vs. JP Morgan Chase
Performance |
| Timeline |
| Jackson Financial |
| JP Morgan Chase |
Jackson Financial and 48126BAA1 Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Jackson Financial and 48126BAA1
The main advantage of trading using opposite Jackson Financial and 48126BAA1 positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Jackson Financial position performs unexpectedly, 48126BAA1 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 48126BAA1 will offset losses from the drop in 48126BAA1'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 |
| 48126BAA1 vs. AEP TEX INC | 48126BAA1 vs. US BANK NATIONAL | 48126BAA1 vs. Jackson Financial | 48126BAA1 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
| Share Portfolio Track or share privately all of your investments from the convenience of any device | |
| Technical Analysis Check basic technical indicators and analysis based on most latest market data | |
| Money Managers Screen money managers from public funds and ETFs managed around the world | |
| Global Markets Map Get a quick overview of global market snapshot using zoomable world map. Drill down to check world indexes | |
| Headlines Timeline Stay connected to all market stories and filter out noise. Drill down to analyze hype elasticity |