Correlation Between JPMorgan and SPDR Kensho
Can any of the company-specific risk be diversified away by investing in both JPMorgan and SPDR Kensho 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 JPMorgan and SPDR Kensho into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between JPMorgan and SPDR Kensho Intelligent, you can compare the effects of market volatilities on JPMorgan and SPDR Kensho 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 JPMorgan with a short position of SPDR Kensho. Check out your portfolio center. Please also check ongoing floating volatility patterns of JPMorgan and SPDR Kensho.
Diversification Opportunities for JPMorgan and SPDR Kensho
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between JPMorgan and SPDR is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding JPMorgan and SPDR Kensho Intelligent in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on SPDR Kensho Intelligent and JPMorgan 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 JPMorgan are associated (or correlated) with SPDR Kensho. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of SPDR Kensho Intelligent has no effect on the direction of JPMorgan i.e., JPMorgan and SPDR Kensho go up and down completely randomly.
Pair Corralation between JPMorgan and SPDR Kensho
If you would invest 3,705 in SPDR Kensho Intelligent on July 20, 2025 and sell it today you would earn a total of 893.00 from holding SPDR Kensho Intelligent or generate 24.1% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 1.54% |
| Values | Daily Returns |
JPMorgan vs. SPDR Kensho Intelligent
Performance |
| Timeline |
| JPMorgan |
Risk-Adjusted Performance
Weakest
Weak | Strong |
| SPDR Kensho Intelligent |
JPMorgan and SPDR Kensho Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with JPMorgan and SPDR Kensho
The main advantage of trading using opposite JPMorgan and SPDR Kensho positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if JPMorgan position performs unexpectedly, SPDR Kensho 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 SPDR Kensho will offset losses from the drop in SPDR Kensho's long position.The idea behind JPMorgan and SPDR Kensho Intelligent 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.| SPDR Kensho vs. SPDR STOXX Europe | SPDR Kensho vs. SPDR Bloomberg Barclays | SPDR Kensho vs. SPDR Kensho Future | SPDR Kensho vs. SPDR SP Kensho |
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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