Correlation Between Victorias Secret and JEFFERIES
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By analyzing existing cross correlation between Victorias Secret Co and JEFFERIES GROUP INC, you can compare the effects of market volatilities on Victorias Secret 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 Victorias Secret with a short position of JEFFERIES. Check out your portfolio center. Please also check ongoing floating volatility patterns of Victorias Secret and JEFFERIES.
Diversification Opportunities for Victorias Secret and JEFFERIES
-0.42 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Victorias and JEFFERIES is -0.42. Overlapping area represents the amount of risk that can be diversified away by holding Victorias Secret Co 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 Victorias Secret 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 Victorias Secret Co 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 Victorias Secret i.e., Victorias Secret and JEFFERIES go up and down completely randomly.
Pair Corralation between Victorias Secret and JEFFERIES
Given the investment horizon of 90 days Victorias Secret is expected to generate 19.31 times less return on investment than JEFFERIES. But when comparing it to its historical volatility, Victorias Secret Co is 13.57 times less risky than JEFFERIES. It trades about 0.03 of its potential returns per unit of risk. JEFFERIES GROUP INC is currently generating about 0.05 of returns per unit of risk over similar time horizon. If you would invest 9,956 in JEFFERIES GROUP INC on September 14, 2024 and sell it today you would earn a total of 184.00 from holding JEFFERIES GROUP INC or generate 1.85% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 73.54% |
| Values | Daily Returns |
Victorias Secret Co vs. JEFFERIES GROUP INC
Performance |
| Timeline |
| Victorias Secret |
| JEFFERIES GROUP INC |
Victorias Secret and JEFFERIES Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Victorias Secret and JEFFERIES
The main advantage of trading using opposite Victorias Secret and JEFFERIES positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Victorias Secret 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.| Victorias Secret vs. Capri Holdings | Victorias Secret vs. Movado Group | Victorias Secret vs. Tapestry | Victorias Secret vs. Brilliant Earth Group |
| JEFFERIES vs. Li Auto | JEFFERIES vs. JJill Inc | JEFFERIES vs. Citi Trends | JEFFERIES vs. Victorias Secret Co |
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 Price Exposure Probability module to analyze equity upside and downside potential for a given time horizon across multiple markets.
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