Correlation Between Jade Bird and Badger Meter

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Can any of the company-specific risk be diversified away by investing in both Jade Bird and Badger Meter 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 Jade Bird and Badger Meter into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Jade Bird Fire and Badger Meter, you can compare the effects of market volatilities on Jade Bird and Badger Meter 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 Jade Bird with a short position of Badger Meter. Check out your portfolio center. Please also check ongoing floating volatility patterns of Jade Bird and Badger Meter.

Diversification Opportunities for Jade Bird and Badger Meter

0.0
  Correlation Coefficient

Pay attention - limited upside

The 3 months correlation between Jade and Badger is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Jade Bird Fire and Badger Meter in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Badger Meter and Jade Bird 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 Jade Bird Fire are associated (or correlated) with Badger Meter. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Badger Meter has no effect on the direction of Jade Bird i.e., Jade Bird and Badger Meter go up and down completely randomly.

Pair Corralation between Jade Bird and Badger Meter

If you would invest  0.00  in Jade Bird Fire on July 20, 2025 and sell it today you would earn a total of  0.00  from holding Jade Bird Fire or generate 0.0% return on investment over 90 days.
Time Period3 Months [change]
DirectionFlat 
StrengthInsignificant
Accuracy1.54%
ValuesDaily Returns

Jade Bird Fire  vs.  Badger Meter

 Performance 
       Timeline  
Jade Bird Fire 

Risk-Adjusted Performance

Fair

 
Weak
 
Strong
Over the last 90 days Jade Bird Fire has generated negative risk-adjusted returns adding no value to investors with long positions. Despite somewhat strong basic indicators, Jade Bird is not utilizing all of its potentials. The current stock price disturbance, may contribute to short-term losses for the investors.
Badger Meter 

Risk-Adjusted Performance

Weakest

 
Weak
 
Strong
Over the last 90 days Badger Meter has generated negative risk-adjusted returns adding no value to investors with long positions. Despite weak performance in the last few months, the Stock's primary indicators remain fairly strong which may send shares a bit higher in November 2025. The recent confusion may also be a sign of long-lasting up-swing for the firm traders.

Jade Bird and Badger Meter Volatility Contrast

   Predicted Return Density   
       Returns  

Pair Trading with Jade Bird and Badger Meter

The main advantage of trading using opposite Jade Bird and Badger Meter positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Jade Bird position performs unexpectedly, Badger Meter 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 Badger Meter will offset losses from the drop in Badger Meter's long position.
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The idea behind Jade Bird Fire and Badger Meter pairs trading is to make the combined position market-neutral, meaning the overall market's direction will not affect its win or loss (or potential downside or upside). This can be achieved by designing a pairs trade with two highly correlated stocks or equities that operate in a similar space or sector, making it possible to obtain profits through simple and relatively low-risk investment.
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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 Performance Analysis module to check effects of mean-variance optimization against your current asset allocation.

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