Correlation Between Jhvit International and Calvert Moderate
Can any of the company-specific risk be diversified away by investing in both Jhvit International and Calvert Moderate 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 Jhvit International and Calvert Moderate into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Jhvit International Small and Calvert Moderate Allocation, you can compare the effects of market volatilities on Jhvit International and Calvert Moderate 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 Jhvit International with a short position of Calvert Moderate. Check out your portfolio center. Please also check ongoing floating volatility patterns of Jhvit International and Calvert Moderate.
Diversification Opportunities for Jhvit International and Calvert Moderate
0.77 | Correlation Coefficient |
Poor diversification
The 3 months correlation between Jhvit and Calvert is 0.77. Overlapping area represents the amount of risk that can be diversified away by holding Jhvit International Small and Calvert Moderate Allocation in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Calvert Moderate All and Jhvit International 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 Jhvit International Small are associated (or correlated) with Calvert Moderate. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Calvert Moderate All has no effect on the direction of Jhvit International i.e., Jhvit International and Calvert Moderate go up and down completely randomly.
Pair Corralation between Jhvit International and Calvert Moderate
Assuming the 90 days horizon Jhvit International Small is expected to generate 1.57 times more return on investment than Calvert Moderate. However, Jhvit International is 1.57 times more volatile than Calvert Moderate Allocation. It trades about 0.16 of its potential returns per unit of risk. Calvert Moderate Allocation is currently generating about 0.18 per unit of risk. If you would invest 1,499 in Jhvit International Small on June 1, 2025 and sell it today you would earn a total of 103.00 from holding Jhvit International Small or generate 6.87% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Significant |
| Accuracy | 98.44% |
| Values | Daily Returns |
Jhvit International Small vs. Calvert Moderate Allocation
Performance |
| Timeline |
| Jhvit International Small |
| Calvert Moderate All |
Jhvit International and Calvert Moderate Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Jhvit International and Calvert Moderate
The main advantage of trading using opposite Jhvit International and Calvert Moderate positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Jhvit International position performs unexpectedly, Calvert Moderate 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 Calvert Moderate will offset losses from the drop in Calvert Moderate's long position.| Jhvit International vs. Prudential Health Sciences | Jhvit International vs. Alger Health Sciences | Jhvit International vs. Baron Health Care | Jhvit International vs. Delaware Healthcare Fund |
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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 Volatility Analysis module to get historical volatility and risk analysis based on latest market data.
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