Correlation Between JABHOL and Sligro Food
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By analyzing existing cross correlation between JABHOL 45 08 APR 52 and Sligro Food Group, you can compare the effects of market volatilities on JABHOL and Sligro Food 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 Sligro Food. Check out your portfolio center. Please also check ongoing floating volatility patterns of JABHOL and Sligro Food.
Diversification Opportunities for JABHOL and Sligro Food
0.05 | Correlation Coefficient |
Significant diversification
The 3 months correlation between JABHOL and Sligro is 0.05. Overlapping area represents the amount of risk that can be diversified away by holding JABHOL 45 08 APR 52 and Sligro Food Group in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Sligro Food Group 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 45 08 APR 52 are associated (or correlated) with Sligro Food. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Sligro Food Group has no effect on the direction of JABHOL i.e., JABHOL and Sligro Food go up and down completely randomly.
Pair Corralation between JABHOL and Sligro Food
Assuming the 90 days trading horizon JABHOL 45 08 APR 52 is expected to generate 0.27 times more return on investment than Sligro Food. However, JABHOL 45 08 APR 52 is 3.7 times less risky than Sligro Food. It trades about 0.64 of its potential returns per unit of risk. Sligro Food Group is currently generating about -0.22 per unit of risk. If you would invest 7,600 in JABHOL 45 08 APR 52 on September 4, 2024 and sell it today you would earn a total of 174.00 from holding JABHOL 45 08 APR 52 or generate 2.29% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 23.81% |
| Values | Daily Returns |
JABHOL 45 08 APR 52 vs. Sligro Food Group
Performance |
| Timeline |
| JABHOL 45 08 |
| Sligro Food Group |
JABHOL and Sligro Food Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with JABHOL and Sligro Food
The main advantage of trading using opposite JABHOL and Sligro Food positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if JABHOL position performs unexpectedly, Sligro Food 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 Sligro Food will offset losses from the drop in Sligro Food's long position.| JABHOL vs. Dave Busters Entertainment | JABHOL vs. KNOT Offshore Partners | JABHOL vs. Hudson Pacific Properties | JABHOL vs. Smith Douglas Homes |
| Sligro Food vs. Entegris | Sligro Food vs. Playtech plc | Sligro Food vs. Everspin Technologies | Sligro Food vs. MACOM Technology Solutions |
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 Performance Analysis module to check effects of mean-variance optimization against your current asset allocation.
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