Correlation Between MDJM and Jammin Java
Can any of the company-specific risk be diversified away by investing in both MDJM and Jammin Java 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 MDJM and Jammin Java into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between MDJM and Jammin Java Corp, you can compare the effects of market volatilities on MDJM and Jammin Java 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 MDJM with a short position of Jammin Java. Check out your portfolio center. Please also check ongoing floating volatility patterns of MDJM and Jammin Java.
Diversification Opportunities for MDJM and Jammin Java
-0.4 | Correlation Coefficient |
Very good diversification
The 3 months correlation between MDJM and Jammin is -0.4. Overlapping area represents the amount of risk that can be diversified away by holding MDJM and Jammin Java Corp in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Jammin Java Corp and MDJM 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 MDJM are associated (or correlated) with Jammin Java. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Jammin Java Corp has no effect on the direction of MDJM i.e., MDJM and Jammin Java go up and down completely randomly.
Pair Corralation between MDJM and Jammin Java
If you would invest 0.00 in Jammin Java Corp on November 3, 2024 and sell it today you would earn a total of 0.01 from holding Jammin Java Corp or generate 9.223372036854776E16% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 5.0% |
| Values | Daily Returns |
MDJM vs. Jammin Java Corp
Performance |
| Timeline |
| MDJM |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Modest
| Jammin Java Corp |
MDJM and Jammin Java Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with MDJM and Jammin Java
The main advantage of trading using opposite MDJM and Jammin Java positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if MDJM position performs unexpectedly, Jammin Java 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 Jammin Java will offset losses from the drop in Jammin Java's long position.| MDJM vs. Fangdd Network Group | MDJM vs. Ucommune International | MDJM vs. Ohmyhome Limited Ordinary | MDJM vs. Southcorp Capital |
| Jammin Java vs. Metrospaces | Jammin Java vs. Ucommune International | Jammin Java vs. Fangdd Network Group | Jammin Java vs. Avalon GloboCare Corp |
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 Breakdown module to analyze constituents of all Macroaxis ideas. Macroaxis investment ideas are predefined, sector-focused investing themes.
Other Complementary Tools
| Equity Valuation Check real value of public entities based on technical and fundamental data | |
| Financial Widgets Easily integrated Macroaxis content with over 30 different plug-and-play financial widgets | |
| Companies Directory Evaluate performance of over 100,000 Stocks, Funds, and ETFs against different fundamentals | |
| Price Transformation Use Price Transformation models to analyze the depth of different equity instruments across global markets | |
| Bollinger Bands Use Bollinger Bands indicator to analyze target price for a given investing horizon |