Correlation Between Jacob Internet and Franklin Emerging
Can any of the company-specific risk be diversified away by investing in both Jacob Internet and Franklin Emerging 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 Jacob Internet and Franklin Emerging into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Jacob Internet Fund and Franklin Emerging Market, you can compare the effects of market volatilities on Jacob Internet and Franklin Emerging 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 Jacob Internet with a short position of Franklin Emerging. Check out your portfolio center. Please also check ongoing floating volatility patterns of Jacob Internet and Franklin Emerging.
Diversification Opportunities for Jacob Internet and Franklin Emerging
-0.65 | Correlation Coefficient |
Excellent diversification
The 3 months correlation between Jacob and Franklin is -0.65. Overlapping area represents the amount of risk that can be diversified away by holding Jacob Internet Fund and Franklin Emerging Market in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Franklin Emerging Market and Jacob Internet 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 Jacob Internet Fund are associated (or correlated) with Franklin Emerging. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Franklin Emerging Market has no effect on the direction of Jacob Internet i.e., Jacob Internet and Franklin Emerging go up and down completely randomly.
Pair Corralation between Jacob Internet and Franklin Emerging
Assuming the 90 days horizon Jacob Internet Fund is expected to generate 8.09 times more return on investment than Franklin Emerging. However, Jacob Internet is 8.09 times more volatile than Franklin Emerging Market. It trades about 0.03 of its potential returns per unit of risk. Franklin Emerging Market is currently generating about 0.17 per unit of risk. If you would invest 622.00 in Jacob Internet Fund on September 1, 2025 and sell it today you would earn a total of 52.00 from holding Jacob Internet Fund or generate 8.36% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Jacob Internet Fund vs. Franklin Emerging Market
Performance |
| Timeline |
| Jacob Internet |
| Franklin Emerging Market |
Jacob Internet and Franklin Emerging Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Jacob Internet and Franklin Emerging
The main advantage of trading using opposite Jacob Internet and Franklin Emerging positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Jacob Internet position performs unexpectedly, Franklin Emerging 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 Franklin Emerging will offset losses from the drop in Franklin Emerging's long position.| Jacob Internet vs. Red Oak Technology | Jacob Internet vs. Allianzgi Technology Fund | Jacob Internet vs. Towpath Technology | Jacob Internet vs. Pgim Jennison Technology |
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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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