Correlation Between Parkland and JBG SMITH
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By analyzing existing cross correlation between Parkland Fuel and JBG SMITH Properties, you can compare the effects of market volatilities on Parkland and JBG SMITH 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 Parkland with a short position of JBG SMITH. Check out your portfolio center. Please also check ongoing floating volatility patterns of Parkland and JBG SMITH.
Diversification Opportunities for Parkland and JBG SMITH
Significant diversification
The 3 months correlation between Parkland and JBG is 0.09. Overlapping area represents the amount of risk that can be diversified away by holding Parkland Fuel and JBG SMITH Properties in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on JBG SMITH Properties and Parkland 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 Parkland Fuel are associated (or correlated) with JBG SMITH. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of JBG SMITH Properties has no effect on the direction of Parkland i.e., Parkland and JBG SMITH go up and down completely randomly.
Pair Corralation between Parkland and JBG SMITH
Assuming the 90 days trading horizon Parkland Fuel is expected to generate 45.54 times more return on investment than JBG SMITH. However, Parkland is 45.54 times more volatile than JBG SMITH Properties. It trades about 0.09 of its potential returns per unit of risk. JBG SMITH Properties is currently generating about 0.0 per unit of risk. If you would invest 9,573 in Parkland Fuel on September 12, 2024 and sell it today you would earn a total of 379.00 from holding Parkland Fuel or generate 3.96% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 85.45% |
| Values | Daily Returns |
Parkland Fuel vs. JBG SMITH Properties
Performance |
| Timeline |
| Parkland Fuel |
| JBG SMITH Properties |
Parkland and JBG SMITH Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Parkland and JBG SMITH
The main advantage of trading using opposite Parkland and JBG SMITH positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Parkland position performs unexpectedly, JBG SMITH 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 JBG SMITH will offset losses from the drop in JBG SMITH's long position.| Parkland vs. JBG SMITH Properties | Parkland vs. JD Sports Fashion | Parkland vs. Life Time Group | Parkland vs. Xponential Fitness |
| JBG SMITH vs. Highwoods Properties | JBG SMITH vs. Douglas Emmett | JBG SMITH vs. Equity Commonwealth | JBG SMITH vs. Kilroy Realty Corp |
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 USA ETFs module to find actively traded Exchange Traded Funds (ETF) in USA.
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