Correlation Between Jackson Financial and 49803XAA1
Specify exactly 2 symbols:
By analyzing existing cross correlation between Jackson Financial and KITE RLTY GROUP, you can compare the effects of market volatilities on Jackson Financial and 49803XAA1 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 49803XAA1. Check out your portfolio center. Please also check ongoing floating volatility patterns of Jackson Financial and 49803XAA1.
Diversification Opportunities for Jackson Financial and 49803XAA1
-0.25 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Jackson and 49803XAA1 is -0.25. Overlapping area represents the amount of risk that can be diversified away by holding Jackson Financial and KITE RLTY GROUP in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on KITE RLTY GROUP 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 49803XAA1. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of KITE RLTY GROUP has no effect on the direction of Jackson Financial i.e., Jackson Financial and 49803XAA1 go up and down completely randomly.
Pair Corralation between Jackson Financial and 49803XAA1
Assuming the 90 days trading horizon Jackson Financial is expected to generate 0.68 times more return on investment than 49803XAA1. However, Jackson Financial is 1.48 times less risky than 49803XAA1. It trades about 0.09 of its potential returns per unit of risk. KITE RLTY GROUP is currently generating about -0.15 per unit of risk. If you would invest 2,689 in Jackson Financial on September 5, 2024 and sell it today you would earn a total of 48.00 from holding Jackson Financial or generate 1.79% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 83.33% |
| Values | Daily Returns |
Jackson Financial vs. KITE RLTY GROUP
Performance |
| Timeline |
| Jackson Financial |
| KITE RLTY GROUP |
Jackson Financial and 49803XAA1 Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Jackson Financial and 49803XAA1
The main advantage of trading using opposite Jackson Financial and 49803XAA1 positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Jackson Financial position performs unexpectedly, 49803XAA1 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 49803XAA1 will offset losses from the drop in 49803XAA1'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 |
| 49803XAA1 vs. AEP TEX INC | 49803XAA1 vs. US BANK NATIONAL | 49803XAA1 vs. MetLife | 49803XAA1 vs. Jackson Financial |
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 Optimization module to compute new portfolio that will generate highest expected return given your specified tolerance for risk.
Other Complementary Tools
| ETFs Find actively traded Exchange Traded Funds (ETF) from around the world | |
| Portfolio Rebalancing Analyze risk-adjusted returns against different time horizons to find asset-allocation targets | |
| Stock Screener Find equities using a custom stock filter or screen asymmetry in trading patterns, price, volume, or investment outlook. | |
| Pair Correlation Compare performance and examine fundamental relationship between any two equity instruments | |
| Volatility Analysis Get historical volatility and risk analysis based on latest market data |