Correlation Between JPM Europe and CM AM
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By analyzing existing cross correlation between JPM Europe Equity and CM AM Monplus NE, you can compare the effects of market volatilities on JPM Europe and CM AM 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 CM AM. Check out your portfolio center. Please also check ongoing floating volatility patterns of JPM Europe and CM AM.
Diversification Opportunities for JPM Europe and CM AM
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between JPM and 0P0001F96C is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding JPM Europe Equity and CM AM Monplus NE in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on CM AM Monplus 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 CM AM. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of CM AM Monplus has no effect on the direction of JPM Europe i.e., JPM Europe and CM AM go up and down completely randomly.
Pair Corralation between JPM Europe and CM AM
If you would invest 10,582 in CM AM Monplus NE on September 2, 2024 and sell it today you would earn a total of 24.00 from holding CM AM Monplus NE or generate 0.23% 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. CM AM Monplus NE
Performance |
| Timeline |
| JPM Europe Equity |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
| CM AM Monplus |
JPM Europe and CM AM Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with JPM Europe and CM AM
The main advantage of trading using opposite JPM Europe and CM AM positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if JPM Europe position performs unexpectedly, CM AM 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 CM AM will offset losses from the drop in CM AM's long position.| JPM Europe vs. JPM Emerging Markets | JPM Europe vs. Esfera Robotics R | JPM Europe vs. R co Valor F | JPM Europe vs. CM AM Monplus NE |
| CM AM vs. Groupama Entreprises N | CM AM vs. Renaissance Europe C | CM AM vs. Superior Plus Corp | CM AM vs. Origin Agritech |
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 Idea Analyzer module to analyze all characteristics, volatility and risk-adjusted return of Macroaxis ideas.
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