Correlation Between Jhancock Disciplined and Dunham Large
Can any of the company-specific risk be diversified away by investing in both Jhancock Disciplined and Dunham Large 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 Jhancock Disciplined and Dunham Large into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Jhancock Disciplined Value and Dunham Large Cap, you can compare the effects of market volatilities on Jhancock Disciplined and Dunham Large 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 Jhancock Disciplined with a short position of Dunham Large. Check out your portfolio center. Please also check ongoing floating volatility patterns of Jhancock Disciplined and Dunham Large.
Diversification Opportunities for Jhancock Disciplined and Dunham Large
1.0 | Correlation Coefficient |
No risk reduction
The 3 months correlation between Jhancock and Dunham is 1.0. Overlapping area represents the amount of risk that can be diversified away by holding Jhancock Disciplined Value and Dunham Large Cap in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Dunham Large Cap and Jhancock Disciplined 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 Jhancock Disciplined Value are associated (or correlated) with Dunham Large. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Dunham Large Cap has no effect on the direction of Jhancock Disciplined i.e., Jhancock Disciplined and Dunham Large go up and down completely randomly.
Pair Corralation between Jhancock Disciplined and Dunham Large
Assuming the 90 days horizon Jhancock Disciplined is expected to generate 1.05 times less return on investment than Dunham Large. In addition to that, Jhancock Disciplined is 1.02 times more volatile than Dunham Large Cap. It trades about 0.19 of its total potential returns per unit of risk. Dunham Large Cap is currently generating about 0.2 per unit of volatility. If you would invest 1,988 in Dunham Large Cap on June 9, 2025 and sell it today you would earn a total of 147.00 from holding Dunham Large Cap or generate 7.39% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Strong |
| Accuracy | 100.0% |
| Values | Daily Returns |
Jhancock Disciplined Value vs. Dunham Large Cap
Performance |
| Timeline |
| Jhancock Disciplined |
| Dunham Large Cap |
Jhancock Disciplined and Dunham Large Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Jhancock Disciplined and Dunham Large
The main advantage of trading using opposite Jhancock Disciplined and Dunham Large positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Jhancock Disciplined position performs unexpectedly, Dunham Large 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 Dunham Large will offset losses from the drop in Dunham Large's long position.| Jhancock Disciplined vs. Regional Bank Fund | Jhancock Disciplined vs. Regional Bank Fund | Jhancock Disciplined vs. Multimanager Lifestyle Moderate | Jhancock Disciplined vs. Multimanager Lifestyle Balanced |
| Dunham Large vs. Elfun Diversified Fund | Dunham Large vs. Aqr Diversified Arbitrage | Dunham Large vs. Pgim Conservative Retirement | Dunham Large vs. American Funds Conservative |
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 Bollinger Bands module to use Bollinger Bands indicator to analyze target price for a given investing horizon.
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