Correlation Between GENERAL and JD Sports
Specify exactly 2 symbols:
By analyzing existing cross correlation between GENERAL ELEC CAP and JD Sports Fashion, you can compare the effects of market volatilities on GENERAL and JD Sports 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 GENERAL with a short position of JD Sports. Check out your portfolio center. Please also check ongoing floating volatility patterns of GENERAL and JD Sports.
Diversification Opportunities for GENERAL and JD Sports
Pay attention - limited upside
The 3 months correlation between GENERAL and JDDSF is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding GENERAL ELEC CAP and JD Sports Fashion in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on JD Sports Fashion and GENERAL 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 GENERAL ELEC CAP are associated (or correlated) with JD Sports. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of JD Sports Fashion has no effect on the direction of GENERAL i.e., GENERAL and JD Sports go up and down completely randomly.
Pair Corralation between GENERAL and JD Sports
If you would invest 0.00 in GENERAL ELEC CAP on January 23, 2025 and sell it today you would earn a total of 0.00 from holding GENERAL ELEC CAP or generate 0.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 0.2% |
| Values | Daily Returns |
GENERAL ELEC CAP vs. JD Sports Fashion
Performance |
| Timeline |
| GENERAL ELEC CAP |
Risk-Adjusted Performance
Very Weak
Weak | Strong |
| JD Sports Fashion |
GENERAL and JD Sports Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with GENERAL and JD Sports
The main advantage of trading using opposite GENERAL and JD Sports positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if GENERAL position performs unexpectedly, JD Sports 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 JD Sports will offset losses from the drop in JD Sports' long position.| GENERAL vs. Air Lease | GENERAL vs. Sapiens International | GENERAL vs. Zedge Inc | GENERAL vs. Wizz Air Holdings |
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 Earnings Calls module to check upcoming earnings announcements updated hourly across public exchanges.
Other Complementary Tools
| Equity Valuation Check real value of public entities based on technical and fundamental data | |
| Crypto Correlations Use cryptocurrency correlation module to diversify your cryptocurrency portfolio across multiple coins | |
| Portfolio Optimization Compute new portfolio that will generate highest expected return given your specified tolerance for risk | |
| Content Syndication Quickly integrate customizable finance content to your own investment portal | |
| Portfolio Analyzer Portfolio analysis module that provides access to portfolio diagnostics and optimization engine |