Correlation Between VERB TECHNOLOGY and Jfrog
Can any of the company-specific risk be diversified away by investing in both VERB TECHNOLOGY and Jfrog at the same time? Although using a correlation coefficient on its own may not help to predict future stock returns, this module helps to understand the diversifiable risk of combining VERB TECHNOLOGY and Jfrog into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between VERB TECHNOLOGY PANY and Jfrog, you can compare the effects of market volatilities on VERB TECHNOLOGY and Jfrog 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 VERB TECHNOLOGY with a short position of Jfrog. Check out your portfolio center. Please also check ongoing floating volatility patterns of VERB TECHNOLOGY and Jfrog.
Diversification Opportunities for VERB TECHNOLOGY and Jfrog
-0.48 | Correlation Coefficient |
Very good diversification
The 3 months correlation between VERB and Jfrog is -0.48. Overlapping area represents the amount of risk that can be diversified away by holding VERB TECHNOLOGY PANY and Jfrog in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Jfrog and VERB TECHNOLOGY 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 VERB TECHNOLOGY PANY are associated (or correlated) with Jfrog. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Jfrog has no effect on the direction of VERB TECHNOLOGY i.e., VERB TECHNOLOGY and Jfrog go up and down completely randomly.
Pair Corralation between VERB TECHNOLOGY and Jfrog
Given the investment horizon of 90 days VERB TECHNOLOGY PANY is expected to under-perform the Jfrog. In addition to that, VERB TECHNOLOGY is 6.06 times more volatile than Jfrog. It trades about -0.01 of its total potential returns per unit of risk. Jfrog is currently generating about 0.04 per unit of volatility. If you would invest 2,415 in Jfrog on November 1, 2024 and sell it today you would earn a total of 1,136 from holding Jfrog or generate 47.04% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
VERB TECHNOLOGY PANY vs. Jfrog
Performance |
| Timeline |
| VERB TECHNOLOGY PANY |
| Jfrog |
VERB TECHNOLOGY and Jfrog Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with VERB TECHNOLOGY and Jfrog
The main advantage of trading using opposite VERB TECHNOLOGY and Jfrog positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if VERB TECHNOLOGY position performs unexpectedly, Jfrog 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 Jfrog will offset losses from the drop in Jfrog's long position.| VERB TECHNOLOGY vs. Trust Stamp | VERB TECHNOLOGY vs. Freight Technologies | VERB TECHNOLOGY vs. Versus Systems | VERB TECHNOLOGY vs. Auddia Inc |
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 Volatility Analysis module to get historical volatility and risk analysis based on latest market data.
Other Complementary Tools
| Portfolio Optimization Compute new portfolio that will generate highest expected return given your specified tolerance for risk | |
| Earnings Calls Check upcoming earnings announcements updated hourly across public exchanges | |
| Options Analysis Analyze and evaluate options and option chains as a potential hedge for your portfolios | |
| Financial Widgets Easily integrated Macroaxis content with over 30 different plug-and-play financial widgets | |
| Stocks Directory Find actively traded stocks across global markets |