Correlation Between Verra Mobility and JEFFERIES
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By analyzing existing cross correlation between Verra Mobility Corp and JEFFERIES GROUP INC, you can compare the effects of market volatilities on Verra Mobility 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 Verra Mobility with a short position of JEFFERIES. Check out your portfolio center. Please also check ongoing floating volatility patterns of Verra Mobility and JEFFERIES.
Diversification Opportunities for Verra Mobility and JEFFERIES
0.5 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between Verra and JEFFERIES is 0.5. Overlapping area represents the amount of risk that can be diversified away by holding Verra Mobility Corp 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 Verra Mobility 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 Verra Mobility Corp 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 Verra Mobility i.e., Verra Mobility and JEFFERIES go up and down completely randomly.
Pair Corralation between Verra Mobility and JEFFERIES
Given the investment horizon of 90 days Verra Mobility Corp is expected to generate 2.43 times more return on investment than JEFFERIES. However, Verra Mobility is 2.43 times more volatile than JEFFERIES GROUP INC. It trades about 0.07 of its potential returns per unit of risk. JEFFERIES GROUP INC is currently generating about 0.0 per unit of risk. If you would invest 1,430 in Verra Mobility Corp on September 3, 2024 and sell it today you would earn a total of 936.00 from holding Verra Mobility Corp or generate 65.45% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 94.95% |
| Values | Daily Returns |
Verra Mobility Corp vs. JEFFERIES GROUP INC
Performance |
| Timeline |
| Verra Mobility Corp |
| JEFFERIES GROUP INC |
Verra Mobility and JEFFERIES Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Verra Mobility and JEFFERIES
The main advantage of trading using opposite Verra Mobility and JEFFERIES positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Verra Mobility 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.| Verra Mobility vs. International Money Express | Verra Mobility vs. Option Care Health | Verra Mobility vs. HUMANA INC | Verra Mobility vs. Aquagold International |
| JEFFERIES vs. Proficient Auto Logistics, | JEFFERIES vs. Verra Mobility Corp | JEFFERIES vs. Pekin Life Insurance | JEFFERIES vs. The Hanover Insurance |
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 Competition Analyzer module to analyze and compare many basic indicators for a group of related or unrelated entities.
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