Jungo Connectivity Correlations
| JNGO Stock | 359.90 9.90 2.68% |
The correlation of Jungo Connectivity is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Jungo Connectivity moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Jungo Connectivity moves in either direction, the perfectly negatively correlated security will move in the opposite direction. If the correlation is 0, the equities are not correlated; they are entirely random. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.
Average diversification
The correlation between Jungo Connectivity and NYA is 0.17 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Jungo Connectivity and NYA in the same portfolio, assuming nothing else is changed.
Jungo |
The ability to find closely correlated positions to Jungo Connectivity could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Jungo Connectivity when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back Jungo Connectivity - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling Jungo Connectivity to buy it.
Related Correlations Analysis
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Correlation Matchups
Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.High positive correlations
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Risk-Adjusted Indicators
There is a big difference between Jungo Stock performing well and Jungo Connectivity Company doing well as a business compared to the competition. There are so many exceptions to the norm that investors cannot definitively determine what's good or bad unless they analyze Jungo Connectivity's multiple risk-adjusted performance indicators across the competitive landscape. These indicators are quantitative in nature and help investors forecast volatility and risk-adjusted expected returns across various positions.| Mean Deviation | Jensen Alpha | Sortino Ratio | Treynor Ratio | Semi Deviation | Expected Shortfall | Potential Upside | Value @Risk | Maximum Drawdown | ||
|---|---|---|---|---|---|---|---|---|---|---|
| FOX | 1.95 | 0.51 | 0.18 | (0.90) | 1.81 | 4.50 | 13.84 | |||
| TRX | 1.20 | (0.12) | 0.00 | 0.35 | 0.00 | 2.97 | 19.84 | |||
| SAE | 1.41 | 0.56 | 0.31 | 4.05 | 1.07 | 4.18 | 15.04 | |||
| ISCN | 2.22 | 0.46 | 0.16 | (2.09) | 1.99 | 4.89 | 12.04 | |||
| AZRG | 1.47 | 0.16 | 0.01 | (0.12) | 1.52 | 4.93 | 8.95 |
Jungo Connectivity Related Equities
One of the popular trading techniques among algorithmic traders is to use market-neutral strategies where every trade hedges away some risk. Because there are two separate transactions required, even if one position performs unexpectedly, the other equity can make up some of the losses. Below are some of the equities that can be combined with Jungo Connectivity stock to make a market-neutral strategy. Peer analysis of Jungo Connectivity could also be used in its relative valuation, which is a method of valuing Jungo Connectivity by comparing valuation metrics with similar companies.
| Risk & Return | Correlation |
Already Invested in Jungo Connectivity?
The danger of trading Jungo Connectivity is mainly related to its market volatility and Company specific events. As an investor, you must understand the concept of risk-adjusted return before you start trading. The most common way to measure the risk of Jungo Connectivity is by using the Sharpe ratio. The ratio expresses how much excess return you acquire for the extra volatility you endure for holding a more risker asset than Jungo Connectivity. The Sharpe ratio is calculated by using standard deviation and excess return to determine reward per unit of risk. To understand how volatile Jungo Connectivity is, you must compare it to a benchmark. Traditionally, the risk-free rate of return is the rate of return on the shortest-dated U.S. Treasury, such as a 3-year bond.
Check out Risk vs Return Analysis to better understand how to build diversified portfolios. Also, note that the market value of any company could be tightly coupled with the direction of predictive economic indicators such as signals in board of governors. You can also try the Price Ceiling Movement module to calculate and plot Price Ceiling Movement for different equity instruments.
Complementary Tools for Jungo Stock analysis
When running Jungo Connectivity's price analysis, check to measure Jungo Connectivity's market volatility, profitability, liquidity, solvency, efficiency, growth potential, financial leverage, and other vital indicators. We have many different tools that can be utilized to determine how healthy Jungo Connectivity is operating at the current time. Most of Jungo Connectivity's value examination focuses on studying past and present price action to predict the probability of Jungo Connectivity's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Jungo Connectivity's price. Additionally, you may evaluate how the addition of Jungo Connectivity to your portfolios can decrease your overall portfolio volatility.
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