Correlation Between JP Morgan and WBI BullBear
Can any of the company-specific risk be diversified away by investing in both JP Morgan and WBI BullBear 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 JP Morgan and WBI BullBear into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between JP Morgan Exchange Traded and WBI BullBear Value, you can compare the effects of market volatilities on JP Morgan and WBI BullBear 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 JP Morgan with a short position of WBI BullBear. Check out your portfolio center. Please also check ongoing floating volatility patterns of JP Morgan and WBI BullBear.
Diversification Opportunities for JP Morgan and WBI BullBear
0.81 | Correlation Coefficient |
Very poor diversification
The 3 months correlation between JFLI and WBI is 0.81. Overlapping area represents the amount of risk that can be diversified away by holding JP Morgan Exchange Traded and WBI BullBear Value in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on WBI BullBear Value and JP Morgan 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 JP Morgan Exchange Traded are associated (or correlated) with WBI BullBear. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of WBI BullBear Value has no effect on the direction of JP Morgan i.e., JP Morgan and WBI BullBear go up and down completely randomly.
Pair Corralation between JP Morgan and WBI BullBear
Given the investment horizon of 90 days JP Morgan Exchange Traded is expected to generate 0.66 times more return on investment than WBI BullBear. However, JP Morgan Exchange Traded is 1.51 times less risky than WBI BullBear. It trades about 0.05 of its potential returns per unit of risk. WBI BullBear Value is currently generating about -0.07 per unit of risk. If you would invest 5,123 in JP Morgan Exchange Traded on August 29, 2025 and sell it today you would earn a total of 29.00 from holding JP Morgan Exchange Traded or generate 0.57% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Strong |
| Accuracy | 100.0% |
| Values | Daily Returns |
JP Morgan Exchange Traded vs. WBI BullBear Value
Performance |
| Timeline |
| JP Morgan Exchange |
| WBI BullBear Value |
JP Morgan and WBI BullBear Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with JP Morgan and WBI BullBear
The main advantage of trading using opposite JP Morgan and WBI BullBear positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if JP Morgan position performs unexpectedly, WBI BullBear 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 WBI BullBear will offset losses from the drop in WBI BullBear's long position.| JP Morgan vs. Strategy Shares | JP Morgan vs. Freedom Day Dividend | JP Morgan vs. Franklin Templeton ETF | JP Morgan vs. iShares MSCI China |
| WBI BullBear vs. FT Vest Equity | WBI BullBear vs. Northern Lights | WBI BullBear vs. Diamond Hill Funds | WBI BullBear vs. Dimensional International High |
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 Equity Search module to search for actively traded equities including funds and ETFs from over 30 global markets.
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