Correlation Between Jamf Holding and WisdomTree China
Can any of the company-specific risk be diversified away by investing in both Jamf Holding and WisdomTree China 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 Jamf Holding and WisdomTree China into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Jamf Holding and WisdomTree China ex State Owned, you can compare the effects of market volatilities on Jamf Holding and WisdomTree China 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 Jamf Holding with a short position of WisdomTree China. Check out your portfolio center. Please also check ongoing floating volatility patterns of Jamf Holding and WisdomTree China.
Diversification Opportunities for Jamf Holding and WisdomTree China
-0.67 | Correlation Coefficient |
Excellent diversification
The 3 months correlation between Jamf and WisdomTree is -0.67. Overlapping area represents the amount of risk that can be diversified away by holding Jamf Holding and WisdomTree China ex State Owne in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on WisdomTree China and Jamf Holding 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 Jamf Holding are associated (or correlated) with WisdomTree China. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of WisdomTree China has no effect on the direction of Jamf Holding i.e., Jamf Holding and WisdomTree China go up and down completely randomly.
Pair Corralation between Jamf Holding and WisdomTree China
Given the investment horizon of 90 days Jamf Holding is expected to under-perform the WisdomTree China. In addition to that, Jamf Holding is 1.85 times more volatile than WisdomTree China ex State Owned. It trades about -0.17 of its total potential returns per unit of risk. WisdomTree China ex State Owned is currently generating about 0.23 per unit of volatility. If you would invest 3,067 in WisdomTree China ex State Owned on April 21, 2025 and sell it today you would earn a total of 609.00 from holding WisdomTree China ex State Owned or generate 19.86% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Jamf Holding vs. WisdomTree China ex State Owne
Performance |
| Timeline |
| Jamf Holding |
| WisdomTree China |
Jamf Holding and WisdomTree China Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Jamf Holding and WisdomTree China
The main advantage of trading using opposite Jamf Holding and WisdomTree China positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Jamf Holding position performs unexpectedly, WisdomTree China 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 WisdomTree China will offset losses from the drop in WisdomTree China's long position.| Jamf Holding vs. Clearwater Analytics Holdings | Jamf Holding vs. nCino Inc | Jamf Holding vs. Meridianlink | Jamf Holding vs. Vertex |
| WisdomTree China vs. Global X MSCI | WisdomTree China vs. WisdomTree Emerging Markets | WisdomTree China vs. Invesco China Technology | WisdomTree China vs. iShares MSCI China |
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 Latest Portfolios module to quick portfolio dashboard that showcases your latest portfolios.
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