Correlation Between Nasdaq Benchmark and JBG SMITH
Specify exactly 2 symbols:
By analyzing existing cross correlation between Nasdaq Benchmark Energy and JBG SMITH Properties, you can compare the effects of market volatilities on Nasdaq Benchmark and JBG SMITH 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 Nasdaq Benchmark with a short position of JBG SMITH. Check out your portfolio center. Please also check ongoing floating volatility patterns of Nasdaq Benchmark and JBG SMITH.
Diversification Opportunities for Nasdaq Benchmark and JBG SMITH
-0.19 | Correlation Coefficient |
Good diversification
The 3 months correlation between Nasdaq and JBG is -0.19. Overlapping area represents the amount of risk that can be diversified away by holding Nasdaq Benchmark Energy and JBG SMITH Properties in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on JBG SMITH Properties and Nasdaq Benchmark 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 Nasdaq Benchmark Energy are associated (or correlated) with JBG SMITH. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of JBG SMITH Properties has no effect on the direction of Nasdaq Benchmark i.e., Nasdaq Benchmark and JBG SMITH go up and down completely randomly.
Pair Corralation between Nasdaq Benchmark and JBG SMITH
Assuming the 90 days trading horizon Nasdaq Benchmark Energy is expected to generate 0.59 times more return on investment than JBG SMITH. However, Nasdaq Benchmark Energy is 1.69 times less risky than JBG SMITH. It trades about 0.01 of its potential returns per unit of risk. JBG SMITH Properties is currently generating about 0.0 per unit of risk. If you would invest 114,175 in Nasdaq Benchmark Energy on September 24, 2024 and sell it today you would lose (879.00) from holding Nasdaq Benchmark Energy or give up 0.77% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 99.8% |
| Values | Daily Returns |
Nasdaq Benchmark Energy vs. JBG SMITH Properties
Performance |
| Timeline |
Nasdaq Benchmark and JBG SMITH Volatility Contrast
Predicted Return Density |
| Returns |
Nasdaq Benchmark Energy
Pair trading matchups for Nasdaq Benchmark
JBG SMITH Properties
Pair trading matchups for JBG SMITH
Pair Trading with Nasdaq Benchmark and JBG SMITH
The main advantage of trading using opposite Nasdaq Benchmark and JBG SMITH positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Nasdaq Benchmark position performs unexpectedly, JBG SMITH 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 JBG SMITH will offset losses from the drop in JBG SMITH's long position.| Nasdaq Benchmark vs. Rand Capital Corp | Nasdaq Benchmark vs. Brenmiller Energy Ltd | Nasdaq Benchmark vs. Citizens Bancorp Investment | Nasdaq Benchmark vs. Topbuild Corp |
| JBG SMITH vs. Realty Income | JBG SMITH vs. Park Hotels Resorts | JBG SMITH vs. Power REIT | JBG SMITH vs. Urban Edge Properties |
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 Share Portfolio module to track or share privately all of your investments from the convenience of any device.
Other Complementary Tools
| Efficient Frontier Plot and analyze your portfolio and positions against risk-return landscape of the market. | |
| Economic Indicators Top statistical indicators that provide insights into how an economy is performing | |
| Equity Search Search for actively traded equities including funds and ETFs from over 30 global markets | |
| Portfolio Analyzer Portfolio analysis module that provides access to portfolio diagnostics and optimization engine | |
| Positions Ratings Determine portfolio positions ratings based on digital equity recommendations. Macroaxis instant position ratings are based on combination of fundamental analysis and risk-adjusted market performance |