Correlation Between Echiquier Entrepreneurs and JPM America
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By analyzing existing cross correlation between Echiquier Entrepreneurs G and JPM America Equity, you can compare the effects of market volatilities on Echiquier Entrepreneurs and JPM America 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 Echiquier Entrepreneurs with a short position of JPM America. Check out your portfolio center. Please also check ongoing floating volatility patterns of Echiquier Entrepreneurs and JPM America.
Diversification Opportunities for Echiquier Entrepreneurs and JPM America
-0.43 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Echiquier and JPM is -0.43. Overlapping area represents the amount of risk that can be diversified away by holding Echiquier Entrepreneurs G and JPM America Equity in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on JPM America Equity and Echiquier Entrepreneurs 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 Echiquier Entrepreneurs G are associated (or correlated) with JPM America. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of JPM America Equity has no effect on the direction of Echiquier Entrepreneurs i.e., Echiquier Entrepreneurs and JPM America go up and down completely randomly.
Pair Corralation between Echiquier Entrepreneurs and JPM America
Assuming the 90 days trading horizon Echiquier Entrepreneurs is expected to generate 2.34 times less return on investment than JPM America. But when comparing it to its historical volatility, Echiquier Entrepreneurs G is 1.25 times less risky than JPM America. It trades about 0.05 of its potential returns per unit of risk. JPM America Equity is currently generating about 0.1 of returns per unit of risk over similar time horizon. If you would invest 36,013 in JPM America Equity on September 11, 2024 and sell it today you would earn a total of 8,160 from holding JPM America Equity or generate 22.66% return on investment over 90 days.
Time Period | 3 Months [change] |
Direction | Moves Against |
Strength | Very Weak |
Accuracy | 49.29% |
Values | Daily Returns |
Echiquier Entrepreneurs G vs. JPM America Equity
Performance |
Timeline |
Echiquier Entrepreneurs |
JPM America Equity |
Echiquier Entrepreneurs and JPM America Volatility Contrast
Predicted Return Density |
Returns |
Pair Trading with Echiquier Entrepreneurs and JPM America
The main advantage of trading using opposite Echiquier Entrepreneurs and JPM America positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Echiquier Entrepreneurs position performs unexpectedly, JPM America 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 JPM America will offset losses from the drop in JPM America's long position.Echiquier Entrepreneurs vs. Nova Europe ISR | Echiquier Entrepreneurs vs. Xtrackers ShortDAX | Echiquier Entrepreneurs vs. Xtrackers LevDAX | Echiquier Entrepreneurs vs. Lyxor 1 |
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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 Portfolio Backtesting module to avoid under-diversification and over-optimization by backtesting your portfolios.
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