Correlation Between Willamette Valley and JPMORGAN
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By analyzing existing cross correlation between Willamette Valley Vineyards and JPMORGAN CHASE CO, you can compare the effects of market volatilities on Willamette Valley and JPMORGAN 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 Willamette Valley with a short position of JPMORGAN. Check out your portfolio center. Please also check ongoing floating volatility patterns of Willamette Valley and JPMORGAN.
Diversification Opportunities for Willamette Valley and JPMORGAN
0.47 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between Willamette and JPMORGAN is 0.47. Overlapping area represents the amount of risk that can be diversified away by holding Willamette Valley Vineyards and JPMORGAN CHASE CO in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on JPMORGAN CHASE CO and Willamette Valley 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 Willamette Valley Vineyards are associated (or correlated) with JPMORGAN. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of JPMORGAN CHASE CO has no effect on the direction of Willamette Valley i.e., Willamette Valley and JPMORGAN go up and down completely randomly.
Pair Corralation between Willamette Valley and JPMORGAN
Given the investment horizon of 90 days Willamette Valley Vineyards is expected to generate 0.83 times more return on investment than JPMORGAN. However, Willamette Valley Vineyards is 1.2 times less risky than JPMORGAN. It trades about -0.08 of its potential returns per unit of risk. JPMORGAN CHASE CO is currently generating about -0.14 per unit of risk. If you would invest 365.00 in Willamette Valley Vineyards on September 4, 2024 and sell it today you would lose (34.00) from holding Willamette Valley Vineyards or give up 9.32% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 95.31% |
| Values | Daily Returns |
Willamette Valley Vineyards vs. JPMORGAN CHASE CO
Performance |
| Timeline |
| Willamette Valley |
| JPMORGAN CHASE CO |
Willamette Valley and JPMORGAN Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Willamette Valley and JPMORGAN
The main advantage of trading using opposite Willamette Valley and JPMORGAN positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Willamette Valley position performs unexpectedly, JPMORGAN 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 JPMORGAN will offset losses from the drop in JPMORGAN's long position.| Willamette Valley vs. Naked Wines plc | Willamette Valley vs. Andrew Peller Limited | Willamette Valley vs. Iconic Brands | Willamette Valley vs. Naked Wines plc |
| JPMORGAN vs. Fomento Economico Mexicano | JPMORGAN vs. Griffon | JPMORGAN vs. Apogee Enterprises | JPMORGAN vs. Willamette Valley Vineyards |
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 Theme Ratings module to determine theme ratings based on digital equity recommendations. Macroaxis theme ratings are based on combination of fundamental analysis and risk-adjusted market performance.
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