Correlation Between Oxford Industries and JLM Couture
Can any of the company-specific risk be diversified away by investing in both Oxford Industries and JLM Couture 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 Oxford Industries and JLM Couture into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Oxford Industries and JLM Couture, you can compare the effects of market volatilities on Oxford Industries and JLM Couture 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 Oxford Industries with a short position of JLM Couture. Check out your portfolio center. Please also check ongoing floating volatility patterns of Oxford Industries and JLM Couture.
Diversification Opportunities for Oxford Industries and JLM Couture
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Oxford and JLM is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Oxford Industries and JLM Couture in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on JLM Couture and Oxford Industries 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 Oxford Industries are associated (or correlated) with JLM Couture. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of JLM Couture has no effect on the direction of Oxford Industries i.e., Oxford Industries and JLM Couture go up and down completely randomly.
Pair Corralation between Oxford Industries and JLM Couture
If you would invest (100.00) in JLM Couture on December 1, 2024 and sell it today you would earn a total of 100.00 from holding JLM Couture 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 |
Oxford Industries vs. JLM Couture
Performance |
| Timeline |
| Oxford Industries |
| JLM Couture |
Risk-Adjusted Performance
Very Weak
Weak | Strong |
Oxford Industries and JLM Couture Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Oxford Industries and JLM Couture
The main advantage of trading using opposite Oxford Industries and JLM Couture positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Oxford Industries position performs unexpectedly, JLM Couture 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 JLM Couture will offset losses from the drop in JLM Couture's long position.| Oxford Industries vs. G III Apparel Group | Oxford Industries vs. Ermenegildo Zegna NV | Oxford Industries vs. Kontoor Brands | Oxford Industries vs. Columbia Sportswear |
| JLM Couture vs. Jerash Holdings | JLM Couture vs. Lakeland Industries | JLM Couture vs. Oxford Industries | JLM Couture vs. G III Apparel Group |
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 Global Markets Map module to get a quick overview of global market snapshot using zoomable world map. Drill down to check world indexes.
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