Correlation Between Overstockcom and Jeffs Brands
Can any of the company-specific risk be diversified away by investing in both Overstockcom and Jeffs Brands 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 Overstockcom and Jeffs Brands into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Overstockcom and Jeffs Brands, you can compare the effects of market volatilities on Overstockcom and Jeffs Brands 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 Overstockcom with a short position of Jeffs Brands. Check out your portfolio center. Please also check ongoing floating volatility patterns of Overstockcom and Jeffs Brands.
Diversification Opportunities for Overstockcom and Jeffs Brands
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Overstockcom and Jeffs is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Overstockcom and Jeffs Brands in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Jeffs Brands and Overstockcom 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 Overstockcom are associated (or correlated) with Jeffs Brands. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Jeffs Brands has no effect on the direction of Overstockcom i.e., Overstockcom and Jeffs Brands go up and down completely randomly.
Pair Corralation between Overstockcom and Jeffs Brands
If you would invest (100.00) in Overstockcom on November 9, 2024 and sell it today you would earn a total of 100.00 from holding Overstockcom or generate -100.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 0.0% |
| Values | Daily Returns |
Overstockcom vs. Jeffs Brands
Performance |
| Timeline |
| Overstockcom |
Risk-Adjusted Performance
Very Weak
Weak | Strong |
| Jeffs Brands |
Overstockcom and Jeffs Brands Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Overstockcom and Jeffs Brands
The main advantage of trading using opposite Overstockcom and Jeffs Brands positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Overstockcom position performs unexpectedly, Jeffs Brands 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 Jeffs Brands will offset losses from the drop in Jeffs Brands' long position.| Overstockcom vs. Etsy Inc | Overstockcom vs. Chewy Inc | Overstockcom vs. PDD Holdings | Overstockcom vs. Sea |
| Jeffs Brands vs. Hour Loop | Jeffs Brands vs. Kidpik Corp | Jeffs Brands vs. MOGU Inc | Jeffs Brands vs. Jowell Global |
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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