Correlation Between Jamf Holding and Flex
Can any of the company-specific risk be diversified away by investing in both Jamf Holding and Flex 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 Flex into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Jamf Holding and Flex, you can compare the effects of market volatilities on Jamf Holding and Flex 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 Flex. Check out your portfolio center. Please also check ongoing floating volatility patterns of Jamf Holding and Flex.
Diversification Opportunities for Jamf Holding and Flex
-0.84 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Jamf and Flex is -0.84. Overlapping area represents the amount of risk that can be diversified away by holding Jamf Holding and Flex in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Flex 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 Flex. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Flex has no effect on the direction of Jamf Holding i.e., Jamf Holding and Flex go up and down completely randomly.
Pair Corralation between Jamf Holding and Flex
Given the investment horizon of 90 days Jamf Holding is expected to under-perform the Flex. In addition to that, Jamf Holding is 1.34 times more volatile than Flex. It trades about -0.19 of its total potential returns per unit of risk. Flex is currently generating about 0.46 per unit of volatility. If you would invest 3,295 in Flex on April 23, 2025 and sell it today you would earn a total of 2,034 from holding Flex or generate 61.73% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Significant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Jamf Holding vs. Flex
Performance |
| Timeline |
| Jamf Holding |
| Flex |
Jamf Holding and Flex Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Jamf Holding and Flex
The main advantage of trading using opposite Jamf Holding and Flex positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Jamf Holding position performs unexpectedly, Flex 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 Flex will offset losses from the drop in Flex's long position.| Jamf Holding vs. Clearwater Analytics Holdings | Jamf Holding vs. nCino Inc | Jamf Holding vs. Meridianlink | Jamf Holding vs. Vertex |
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 Performance Analysis module to check effects of mean-variance optimization against your current asset allocation.
Other Complementary Tools
| Instant Ratings Determine any equity ratings based on digital recommendations. Macroaxis instant equity ratings are based on combination of fundamental analysis and risk-adjusted market performance | |
| Price Transformation Use Price Transformation models to analyze the depth of different equity instruments across global markets | |
| Pair Correlation Compare performance and examine fundamental relationship between any two equity instruments | |
| Commodity Directory Find actively traded commodities issued by global exchanges | |
| Portfolio Backtesting Avoid under-diversification and over-optimization by backtesting your portfolios |