Correlation Between Evertec and Jamf Holding
Can any of the company-specific risk be diversified away by investing in both Evertec and Jamf Holding 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 Evertec and Jamf Holding into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Evertec and Jamf Holding, you can compare the effects of market volatilities on Evertec and Jamf Holding 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 Evertec with a short position of Jamf Holding. Check out your portfolio center. Please also check ongoing floating volatility patterns of Evertec and Jamf Holding.
Diversification Opportunities for Evertec and Jamf Holding
-0.71 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Evertec and Jamf is -0.71. Overlapping area represents the amount of risk that can be diversified away by holding Evertec and Jamf Holding in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Jamf Holding and Evertec 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 Evertec are associated (or correlated) with Jamf Holding. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Jamf Holding has no effect on the direction of Evertec i.e., Evertec and Jamf Holding go up and down completely randomly.
Pair Corralation between Evertec and Jamf Holding
Given the investment horizon of 90 days Evertec is expected to under-perform the Jamf Holding. In addition to that, Evertec is 22.25 times more volatile than Jamf Holding. It trades about -0.03 of its total potential returns per unit of risk. Jamf Holding is currently generating about 0.36 per unit of volatility. If you would invest 1,291 in Jamf Holding on September 26, 2025 and sell it today you would earn a total of 8.00 from holding Jamf Holding or generate 0.62% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Evertec vs. Jamf Holding
Performance |
| Timeline |
| Evertec |
| Jamf Holding |
Evertec and Jamf Holding Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Evertec and Jamf Holding
The main advantage of trading using opposite Evertec and Jamf Holding positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Evertec position performs unexpectedly, Jamf Holding 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 Jamf Holding will offset losses from the drop in Jamf Holding's long position.| Evertec vs. Teradata Corp | Evertec vs. Liveramp Holdings | Evertec vs. NetScout Systems | Evertec vs. Pagaya Technologies |
| Jamf Holding vs. Ivanhoe Electric | Jamf Holding vs. Lightspeed Commerce | Jamf Holding vs. Porch Group | Jamf Holding vs. Progress Software |
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 Sign In To Macroaxis module to sign in to explore Macroaxis' wealth optimization platform and fintech modules.
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