Correlation Between Jhancock Real and Segall Bryant
Can any of the company-specific risk be diversified away by investing in both Jhancock Real and Segall Bryant at the same time? Although using a correlation coefficient on its own may not help to predict future stock returns, this module helps to understand the diversifiable risk of combining Jhancock Real and Segall Bryant into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Jhancock Real Estate and Segall Bryant Hamill, you can compare the effects of market volatilities on Jhancock Real and Segall Bryant 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 Jhancock Real with a short position of Segall Bryant. Check out your portfolio center. Please also check ongoing floating volatility patterns of Jhancock Real and Segall Bryant.
Diversification Opportunities for Jhancock Real and Segall Bryant
0.81 | Correlation Coefficient |
Very poor diversification
The 3 months correlation between Jhancock and Segall is 0.81. Overlapping area represents the amount of risk that can be diversified away by holding Jhancock Real Estate and Segall Bryant Hamill in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Segall Bryant Hamill and Jhancock Real 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 Jhancock Real Estate are associated (or correlated) with Segall Bryant. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Segall Bryant Hamill has no effect on the direction of Jhancock Real i.e., Jhancock Real and Segall Bryant go up and down completely randomly.
Pair Corralation between Jhancock Real and Segall Bryant
Assuming the 90 days horizon Jhancock Real Estate is expected to generate 0.52 times more return on investment than Segall Bryant. However, Jhancock Real Estate is 1.92 times less risky than Segall Bryant. It trades about 0.28 of its potential returns per unit of risk. Segall Bryant Hamill is currently generating about -0.21 per unit of risk. If you would invest 1,235 in Jhancock Real Estate on December 4, 2024 and sell it today you would earn a total of 42.00 from holding Jhancock Real Estate or generate 3.4% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Strong |
| Accuracy | 100.0% |
| Values | Daily Returns |
Jhancock Real Estate vs. Segall Bryant Hamill
Performance |
| Timeline |
| Jhancock Real Estate |
| Segall Bryant Hamill |
Jhancock Real and Segall Bryant Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Jhancock Real and Segall Bryant
The main advantage of trading using opposite Jhancock Real and Segall Bryant positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Jhancock Real position performs unexpectedly, Segall Bryant 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 Segall Bryant will offset losses from the drop in Segall Bryant's long position.| Jhancock Real vs. First Eagle Gold | Jhancock Real vs. Ocm Mutual Fund | Jhancock Real vs. World Precious Minerals | Jhancock Real vs. International Investors Gold |
| Segall Bryant vs. Hartford Moderate Allocation | Segall Bryant vs. Franklin Lifesmart Retirement | Segall Bryant vs. Wealthbuilder Moderate Balanced | Segall Bryant vs. Tiaa Cref Lifestyle Moderate |
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 Sync Your Broker module to sync your existing holdings, watchlists, positions or portfolios from thousands of online brokerage services, banks, investment account aggregators and robo-advisors..
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