Correlation Between Jackson Financial and SOUTHERN
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By analyzing existing cross correlation between Jackson Financial and SOUTHERN CALIF EDISON, you can compare the effects of market volatilities on Jackson Financial and SOUTHERN 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 SOUTHERN. Check out your portfolio center. Please also check ongoing floating volatility patterns of Jackson Financial and SOUTHERN.
Diversification Opportunities for Jackson Financial and SOUTHERN
0.52 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between Jackson and SOUTHERN is 0.52. Overlapping area represents the amount of risk that can be diversified away by holding Jackson Financial and SOUTHERN CALIF EDISON in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on SOUTHERN CALIF EDISON 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 SOUTHERN. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of SOUTHERN CALIF EDISON has no effect on the direction of Jackson Financial i.e., Jackson Financial and SOUTHERN go up and down completely randomly.
Pair Corralation between Jackson Financial and SOUTHERN
Assuming the 90 days trading horizon Jackson Financial is expected to generate 0.67 times more return on investment than SOUTHERN. However, Jackson Financial is 1.49 times less risky than SOUTHERN. It trades about 0.09 of its potential returns per unit of risk. SOUTHERN CALIF EDISON is currently generating about 0.02 per unit of risk. If you would invest 2,374 in Jackson Financial on September 4, 2024 and sell it today you would earn a total of 361.00 from holding Jackson Financial or generate 15.21% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 70.45% |
| Values | Daily Returns |
Jackson Financial vs. SOUTHERN CALIF EDISON
Performance |
| Timeline |
| Jackson Financial |
| SOUTHERN CALIF EDISON |
Jackson Financial and SOUTHERN Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Jackson Financial and SOUTHERN
The main advantage of trading using opposite Jackson Financial and SOUTHERN positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Jackson Financial position performs unexpectedly, SOUTHERN 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 SOUTHERN will offset losses from the drop in SOUTHERN's long position.| Jackson Financial vs. Asure Software | Jackson Financial vs. Assurant | Jackson Financial vs. Sun Life Financial | Jackson Financial vs. GoHealth |
| SOUTHERN vs. AEP TEX INC | SOUTHERN vs. US BANK NATIONAL | SOUTHERN vs. MetLife | SOUTHERN 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 Fundamental Analysis module to view fundamental data based on most recent published financial statements.
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