Correlation Between JPM Europe and IE00B0H4TS55
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By analyzing existing cross correlation between JPM Europe Equity and IE00B0H4TS55, you can compare the effects of market volatilities on JPM Europe and IE00B0H4TS55 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 JPM Europe with a short position of IE00B0H4TS55. Check out your portfolio center. Please also check ongoing floating volatility patterns of JPM Europe and IE00B0H4TS55.
Diversification Opportunities for JPM Europe and IE00B0H4TS55
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between JPM and IE00B0H4TS55 is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding JPM Europe Equity and IE00B0H4TS55 in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on IE00B0H4TS55 and JPM Europe 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 JPM Europe Equity are associated (or correlated) with IE00B0H4TS55. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of IE00B0H4TS55 has no effect on the direction of JPM Europe i.e., JPM Europe and IE00B0H4TS55 go up and down completely randomly.
Pair Corralation between JPM Europe and IE00B0H4TS55
If you would invest 17,046 in IE00B0H4TS55 on November 28, 2024 and sell it today you would earn a total of 1,702 from holding IE00B0H4TS55 or generate 9.98% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 0.0% |
| Values | Daily Returns |
JPM Europe Equity vs. IE00B0H4TS55
Performance |
| Timeline |
| JPM Europe Equity |
Risk-Adjusted Performance
Very Weak
Weak | Strong |
| IE00B0H4TS55 |
JPM Europe and IE00B0H4TS55 Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with JPM Europe and IE00B0H4TS55
The main advantage of trading using opposite JPM Europe and IE00B0H4TS55 positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if JPM Europe position performs unexpectedly, IE00B0H4TS55 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 IE00B0H4TS55 will offset losses from the drop in IE00B0H4TS55's long position.| JPM Europe vs. Aberdeen Global Asian | JPM Europe vs. Azvalor Global Value | JPM Europe vs. Barings Global Umbrella | JPM Europe vs. JPM Global Natural |
| IE00B0H4TS55 vs. Esfera Robotics R | IE00B0H4TS55 vs. R co Valor F | IE00B0H4TS55 vs. CM AM Monplus NE | IE00B0H4TS55 vs. BEKA LUX SICAV |
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