Correlation Between WesBanco and Jeffersonville Bancorp
Can any of the company-specific risk be diversified away by investing in both WesBanco and Jeffersonville Bancorp 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 WesBanco and Jeffersonville Bancorp into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between WesBanco and Jeffersonville Bancorp, you can compare the effects of market volatilities on WesBanco and Jeffersonville Bancorp 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 WesBanco with a short position of Jeffersonville Bancorp. Check out your portfolio center. Please also check ongoing floating volatility patterns of WesBanco and Jeffersonville Bancorp.
Diversification Opportunities for WesBanco and Jeffersonville Bancorp
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between WesBanco and Jeffersonville is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding WesBanco and Jeffersonville Bancorp in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Jeffersonville Bancorp and WesBanco 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 WesBanco are associated (or correlated) with Jeffersonville Bancorp. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Jeffersonville Bancorp has no effect on the direction of WesBanco i.e., WesBanco and Jeffersonville Bancorp go up and down completely randomly.
Pair Corralation between WesBanco and Jeffersonville Bancorp
If you would invest 2,511 in WesBanco on November 28, 2024 and sell it today you would earn a total of 1.00 from holding WesBanco or generate 0.04% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 0.0% |
| Values | Daily Returns |
WesBanco vs. Jeffersonville Bancorp
Performance |
| Timeline |
| WesBanco |
| Jeffersonville Bancorp |
Risk-Adjusted Performance
Very Weak
Weak | Strong |
WesBanco and Jeffersonville Bancorp Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with WesBanco and Jeffersonville Bancorp
The main advantage of trading using opposite WesBanco and Jeffersonville Bancorp positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if WesBanco position performs unexpectedly, Jeffersonville Bancorp 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 Jeffersonville Bancorp will offset losses from the drop in Jeffersonville Bancorp's long position.| WesBanco vs. LB Foster | WesBanco vs. Air Lease | WesBanco vs. Verra Mobility Corp | WesBanco vs. Mesa Air Group |
| Jeffersonville Bancorp vs. Heritage NOLA Bancorp | Jeffersonville Bancorp vs. Rhinebeck Bancorp | Jeffersonville Bancorp vs. Bridgewater Bancshares Depositary | Jeffersonville Bancorp vs. Bank of Marin |
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 Bond Analysis module to evaluate and analyze corporate bonds as a potential investment for your portfolios..
Other Complementary Tools
| FinTech Suite Use AI to screen and filter profitable investment opportunities | |
| Portfolio File Import Quickly import all of your third-party portfolios from your local drive in csv format | |
| Stock Screener Find equities using a custom stock filter or screen asymmetry in trading patterns, price, volume, or investment outlook. | |
| Premium Stories Follow Macroaxis premium stories from verified contributors across different equity types, categories and coverage scope | |
| Idea Analyzer Analyze all characteristics, volatility and risk-adjusted return of Macroaxis ideas |