Correlation Between Consolidated Sports and JD Sports

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

Diversification Opportunities for Consolidated Sports and JD Sports

0.0
  Correlation Coefficient

Pay attention - limited upside

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

Pair Corralation between Consolidated Sports and JD Sports

If you would invest  0.01  in Consolidated Sports Media on September 10, 2025 and sell it today you would lose  0.00  from holding Consolidated Sports Media or give up 0.0% of portfolio value over 90 days.
Time Period3 Months [change]
DirectionFlat 
StrengthInsignificant
Accuracy95.24%
ValuesDaily Returns

Consolidated Sports Media  vs.  JD Sports Fashion

 Performance 
       Timeline  
Consolidated Sports Media 

Risk-Adjusted Performance

Weakest

 
Weak
 
Strong
Over the last 90 days Consolidated Sports Media has generated negative risk-adjusted returns adding no value to investors with long positions. In spite of comparatively stable technical and fundamental indicators, Consolidated Sports is not utilizing all of its potentials. The current stock price uproar, may contribute to short-horizon losses for the private investors.
JD Sports Fashion 

Risk-Adjusted Performance

Weakest

 
Weak
 
Strong
Over the last 90 days JD Sports Fashion has generated negative risk-adjusted returns adding no value to investors with long positions. In spite of fragile performance in the last few months, the Stock's basic indicators remain fairly strong which may send shares a bit higher in January 2026. The current disturbance may also be a sign of long term up-swing for the company investors.

Consolidated Sports and JD Sports Volatility Contrast

   Predicted Return Density   
       Returns  

Pair Trading with Consolidated Sports and JD Sports

The main advantage of trading using opposite Consolidated Sports and JD Sports positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Consolidated Sports position performs unexpectedly, JD Sports 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 JD Sports will offset losses from the drop in JD Sports' long position.
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The idea behind Consolidated Sports Media and JD Sports Fashion 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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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 Stocks Directory module to find actively traded stocks across global markets.

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