Correlation Between Intuitive Surgical and JBG SMITH
Can any of the company-specific risk be diversified away by investing in both Intuitive Surgical and JBG SMITH 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 Intuitive Surgical and JBG SMITH into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Intuitive Surgical and JBG SMITH Properties, you can compare the effects of market volatilities on Intuitive Surgical and JBG SMITH 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 Intuitive Surgical with a short position of JBG SMITH. Check out your portfolio center. Please also check ongoing floating volatility patterns of Intuitive Surgical and JBG SMITH.
Diversification Opportunities for Intuitive Surgical and JBG SMITH
-0.89 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Intuitive and JBG is -0.89. Overlapping area represents the amount of risk that can be diversified away by holding Intuitive Surgical and JBG SMITH Properties in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on JBG SMITH Properties and Intuitive Surgical 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 Intuitive Surgical are associated (or correlated) with JBG SMITH. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of JBG SMITH Properties has no effect on the direction of Intuitive Surgical i.e., Intuitive Surgical and JBG SMITH go up and down completely randomly.
Pair Corralation between Intuitive Surgical and JBG SMITH
Given the investment horizon of 90 days Intuitive Surgical is expected to under-perform the JBG SMITH. But the stock apears to be less risky and, when comparing its historical volatility, Intuitive Surgical is 1.62 times less risky than JBG SMITH. The stock trades about -0.17 of its potential returns per unit of risk. The JBG SMITH Properties is currently generating about 0.17 of returns per unit of risk over similar time horizon. If you would invest 1,728 in JBG SMITH Properties on June 3, 2025 and sell it today you would earn a total of 416.00 from holding JBG SMITH Properties or generate 24.07% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Significant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Intuitive Surgical vs. JBG SMITH Properties
Performance |
| Timeline |
| Intuitive Surgical |
| JBG SMITH Properties |
Intuitive Surgical and JBG SMITH Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Intuitive Surgical and JBG SMITH
The main advantage of trading using opposite Intuitive Surgical and JBG SMITH positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Intuitive Surgical position performs unexpectedly, JBG SMITH 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 JBG SMITH will offset losses from the drop in JBG SMITH's long position.| Intuitive Surgical vs. Repro Med Systems | Intuitive Surgical vs. InfuSystems Holdings | Intuitive Surgical vs. Milestone Scientific | Intuitive Surgical vs. Sysmex Corp |
| JBG SMITH vs. COPT Defense Properties | JBG SMITH vs. Douglas Emmett | JBG SMITH vs. Cousins Properties Incorporated | JBG SMITH vs. Boston Properties |
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 Watchlist Optimization module to optimize watchlists to build efficient portfolios or rebalance existing positions based on the mean-variance optimization algorithm.
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