Correlation Between JABHOL and Dow Jones
Specify exactly 2 symbols:
By analyzing existing cross correlation between JABHOL 22 23 NOV 30 and Dow Jones Industrial, you can compare the effects of market volatilities on JABHOL and Dow Jones 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 JABHOL with a short position of Dow Jones. Check out your portfolio center. Please also check ongoing floating volatility patterns of JABHOL and Dow Jones.
Diversification Opportunities for JABHOL and Dow Jones
Significant diversification
The 3 months correlation between JABHOL and Dow is 0.07. Overlapping area represents the amount of risk that can be diversified away by holding JABHOL 22 23 NOV 30 and Dow Jones Industrial in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Dow Jones Industrial and JABHOL 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 JABHOL 22 23 NOV 30 are associated (or correlated) with Dow Jones. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Dow Jones Industrial has no effect on the direction of JABHOL i.e., JABHOL and Dow Jones go up and down completely randomly.
Pair Corralation between JABHOL and Dow Jones
Assuming the 90 days trading horizon JABHOL 22 23 NOV 30 is expected to generate 1.69 times more return on investment than Dow Jones. However, JABHOL is 1.69 times more volatile than Dow Jones Industrial. It trades about 0.14 of its potential returns per unit of risk. Dow Jones Industrial is currently generating about 0.11 per unit of risk. If you would invest 7,974 in JABHOL 22 23 NOV 30 on September 1, 2024 and sell it today you would earn a total of 389.00 from holding JABHOL 22 23 NOV 30 or generate 4.88% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 14.89% |
| Values | Daily Returns |
JABHOL 22 23 NOV 30 vs. Dow Jones Industrial
Performance |
| Timeline |
JABHOL and Dow Jones Volatility Contrast
Predicted Return Density |
| Returns |
JABHOL 22 23 NOV 30
Pair trading matchups for JABHOL
Dow Jones Industrial
Pair trading matchups for Dow Jones
Pair Trading with JABHOL and Dow Jones
The main advantage of trading using opposite JABHOL and Dow Jones positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if JABHOL position performs unexpectedly, Dow Jones 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 Dow Jones will offset losses from the drop in Dow Jones' long position.| JABHOL vs. Mannatech Incorporated | JABHOL vs. Acco Brands | JABHOL vs. RBC Bearings Incorporated | JABHOL vs. Acme United |
| Dow Jones vs. Catalyst Pharmaceuticals | Dow Jones vs. Sphere Entertainment Co | Dow Jones vs. National CineMedia | Dow Jones vs. Mink Therapeutics |
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 ETF Categories module to list of ETF categories grouped based on various criteria, such as the investment strategy or type of investments.
Other Complementary Tools
| Content Syndication Quickly integrate customizable finance content to your own investment portal | |
| Financial Widgets Easily integrated Macroaxis content with over 30 different plug-and-play financial widgets | |
| Portfolio Holdings Check your current holdings and cash postion to detemine if your portfolio needs rebalancing | |
| FinTech Suite Use AI to screen and filter profitable investment opportunities | |
| Pair Correlation Compare performance and examine fundamental relationship between any two equity instruments |