Correlation Between JPMorgan Nasdaq and Amplify Bitcoin
Can any of the company-specific risk be diversified away by investing in both JPMorgan Nasdaq and Amplify Bitcoin 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 JPMorgan Nasdaq and Amplify Bitcoin into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between JPMorgan Nasdaq Equity and Amplify Bitcoin Max, you can compare the effects of market volatilities on JPMorgan Nasdaq and Amplify Bitcoin 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 JPMorgan Nasdaq with a short position of Amplify Bitcoin. Check out your portfolio center. Please also check ongoing floating volatility patterns of JPMorgan Nasdaq and Amplify Bitcoin.
Diversification Opportunities for JPMorgan Nasdaq and Amplify Bitcoin
-0.46 | Correlation Coefficient |
Very good diversification
The 3 months correlation between JPMorgan and Amplify is -0.46. Overlapping area represents the amount of risk that can be diversified away by holding JPMorgan Nasdaq Equity and Amplify Bitcoin Max in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Amplify Bitcoin Max and JPMorgan Nasdaq 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 JPMorgan Nasdaq Equity are associated (or correlated) with Amplify Bitcoin. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Amplify Bitcoin Max has no effect on the direction of JPMorgan Nasdaq i.e., JPMorgan Nasdaq and Amplify Bitcoin go up and down completely randomly.
Pair Corralation between JPMorgan Nasdaq and Amplify Bitcoin
Given the investment horizon of 90 days JPMorgan Nasdaq Equity is expected to generate 0.31 times more return on investment than Amplify Bitcoin. However, JPMorgan Nasdaq Equity is 3.24 times less risky than Amplify Bitcoin. It trades about 0.17 of its potential returns per unit of risk. Amplify Bitcoin Max is currently generating about -0.14 per unit of risk. If you would invest 5,404 in JPMorgan Nasdaq Equity on September 2, 2025 and sell it today you would earn a total of 477.00 from holding JPMorgan Nasdaq Equity or generate 8.83% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
JPMorgan Nasdaq Equity vs. Amplify Bitcoin Max
Performance |
| Timeline |
| JPMorgan Nasdaq Equity |
| Amplify Bitcoin Max |
JPMorgan Nasdaq and Amplify Bitcoin Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with JPMorgan Nasdaq and Amplify Bitcoin
The main advantage of trading using opposite JPMorgan Nasdaq and Amplify Bitcoin positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if JPMorgan Nasdaq position performs unexpectedly, Amplify Bitcoin 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 Amplify Bitcoin will offset losses from the drop in Amplify Bitcoin's long position.| JPMorgan Nasdaq vs. Strategy Shares | JPMorgan Nasdaq vs. Freedom Day Dividend | JPMorgan Nasdaq vs. Franklin Templeton ETF | JPMorgan Nasdaq vs. iShares MSCI China |
| Amplify Bitcoin vs. Strategy Shares | Amplify Bitcoin vs. Freedom Day Dividend | Amplify Bitcoin vs. Franklin Templeton ETF | Amplify Bitcoin 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 Portfolio Comparator module to compare the composition, asset allocations and performance of any two portfolios in your account.
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