Correlation Between 90331HPL1 and JEFFERIES
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By analyzing existing cross correlation between US BANK NATIONAL and JEFFERIES GROUP INC, you can compare the effects of market volatilities on 90331HPL1 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 90331HPL1 with a short position of JEFFERIES. Check out your portfolio center. Please also check ongoing floating volatility patterns of 90331HPL1 and JEFFERIES.
Diversification Opportunities for 90331HPL1 and JEFFERIES
Modest diversification
The 3 months correlation between 90331HPL1 and JEFFERIES is 0.27. Overlapping area represents the amount of risk that can be diversified away by holding US BANK NATIONAL and JEFFERIES GROUP INC in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on JEFFERIES GROUP INC and 90331HPL1 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 US BANK NATIONAL 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 INC has no effect on the direction of 90331HPL1 i.e., 90331HPL1 and JEFFERIES go up and down completely randomly.
Pair Corralation between 90331HPL1 and JEFFERIES
Assuming the 90 days trading horizon US BANK NATIONAL is expected to under-perform the JEFFERIES. But the bond apears to be less risky and, when comparing its historical volatility, US BANK NATIONAL is 1.43 times less risky than JEFFERIES. The bond trades about -0.04 of its potential returns per unit of risk. The JEFFERIES GROUP INC is currently generating about 0.03 of returns per unit of risk over similar time horizon. If you would invest 9,983 in JEFFERIES GROUP INC on August 28, 2024 and sell it today you would earn a total of 251.00 from holding JEFFERIES GROUP INC or generate 2.51% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 64.71% |
| Values | Daily Returns |
US BANK NATIONAL vs. JEFFERIES GROUP INC
Performance |
| Timeline |
| US BANK NATIONAL |
| JEFFERIES GROUP INC |
90331HPL1 and JEFFERIES Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with 90331HPL1 and JEFFERIES
The main advantage of trading using opposite 90331HPL1 and JEFFERIES positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if 90331HPL1 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.| 90331HPL1 vs. Sapiens International | 90331HPL1 vs. Rackspace Technology | 90331HPL1 vs. ServiceNow | 90331HPL1 vs. Mills Music Trust |
| JEFFERIES vs. Electrovaya Common Shares | JEFFERIES vs. Papaya Growth Opportunity | JEFFERIES vs. Air Lease | JEFFERIES vs. SBM Offshore NV |
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 Sync Your Broker module to sync your existing holdings, watchlists, positions or portfolios from thousands of online brokerage services, banks, investment account aggregators and robo-advisors..
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