Correlation Between Perseus Mining and JEFFERIES
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By analyzing existing cross correlation between Perseus Mining Limited and JEFFERIES GROUP LLC, you can compare the effects of market volatilities on Perseus Mining and JEFFERIES 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 Perseus Mining with a short position of JEFFERIES. Check out your portfolio center. Please also check ongoing floating volatility patterns of Perseus Mining and JEFFERIES.
Diversification Opportunities for Perseus Mining and JEFFERIES
0.28 | Correlation Coefficient |
Modest diversification
The 3 months correlation between Perseus and JEFFERIES is 0.28. Overlapping area represents the amount of risk that can be diversified away by holding Perseus Mining Limited and JEFFERIES GROUP LLC in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on JEFFERIES GROUP LLC and Perseus Mining 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 Perseus Mining Limited are associated (or correlated) with JEFFERIES. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of JEFFERIES GROUP LLC has no effect on the direction of Perseus Mining i.e., Perseus Mining and JEFFERIES go up and down completely randomly.
Pair Corralation between Perseus Mining and JEFFERIES
Assuming the 90 days horizon Perseus Mining Limited is expected to generate 1.53 times more return on investment than JEFFERIES. However, Perseus Mining is 1.53 times more volatile than JEFFERIES GROUP LLC. It trades about 0.1 of its potential returns per unit of risk. JEFFERIES GROUP LLC is currently generating about -0.19 per unit of risk. If you would invest 163.00 in Perseus Mining Limited on October 24, 2024 and sell it today you would earn a total of 6.00 from holding Perseus Mining Limited or generate 3.68% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 90.0% |
| Values | Daily Returns |
Perseus Mining Limited vs. JEFFERIES GROUP LLC
Performance |
| Timeline |
| Perseus Mining |
| JEFFERIES GROUP LLC |
Perseus Mining and JEFFERIES Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Perseus Mining and JEFFERIES
The main advantage of trading using opposite Perseus Mining and JEFFERIES positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Perseus Mining position performs unexpectedly, JEFFERIES 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 JEFFERIES will offset losses from the drop in JEFFERIES's long position.| Perseus Mining vs. Aurion Resources | Perseus Mining vs. Liberty Gold Corp | Perseus Mining vs. Rio2 Limited | Perseus Mining vs. Orezone Gold Corp |
| JEFFERIES vs. ASML Holding NV | JEFFERIES vs. Skyworks Solutions | JEFFERIES vs. Teradyne | JEFFERIES vs. Semtech |
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 ETFs module to find actively traded Exchange Traded Funds (ETF) from around the world.
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