Correlation Between KBL Merger and Jardine Strategic
Can any of the company-specific risk be diversified away by investing in both KBL Merger and Jardine Strategic 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 KBL Merger and Jardine Strategic into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between KBL Merger Corp and Jardine Strategic Holdings, you can compare the effects of market volatilities on KBL Merger and Jardine Strategic 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 KBL Merger with a short position of Jardine Strategic. Check out your portfolio center. Please also check ongoing floating volatility patterns of KBL Merger and Jardine Strategic.
Diversification Opportunities for KBL Merger and Jardine Strategic
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between KBL and Jardine is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding KBL Merger Corp and Jardine Strategic Holdings in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Jardine Strategic and KBL Merger 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 KBL Merger Corp are associated (or correlated) with Jardine Strategic. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Jardine Strategic has no effect on the direction of KBL Merger i.e., KBL Merger and Jardine Strategic go up and down completely randomly.
Pair Corralation between KBL Merger and Jardine Strategic
If you would invest (100.00) in Jardine Strategic Holdings on January 24, 2024 and sell it today you would earn a total of 100.00 from holding Jardine Strategic Holdings or generate -100.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 0.0% |
| Values | Daily Returns |
KBL Merger Corp vs. Jardine Strategic Holdings
Performance |
| Timeline |
| KBL Merger Corp |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
| Jardine Strategic |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
KBL Merger and Jardine Strategic Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with KBL Merger and Jardine Strategic
The main advantage of trading using opposite KBL Merger and Jardine Strategic positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if KBL Merger position performs unexpectedly, Jardine Strategic 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 Jardine Strategic will offset losses from the drop in Jardine Strategic's long position.| KBL Merger vs. Glacier Bancorp | KBL Merger vs. BBB Foods | KBL Merger vs. LithiumBank Resources Corp | KBL Merger vs. AmTrust Financial Services |
| Jardine Strategic vs. Air Transport Services | Jardine Strategic vs. Avient Corp | Jardine Strategic vs. Griffon | Jardine Strategic vs. GMS Inc |
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 Stock Screener module to find equities using a custom stock filter or screen asymmetry in trading patterns, price, volume, or investment outlook..
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