Correlation Between Jumia Technologies and Segall Bryant
Can any of the company-specific risk be diversified away by investing in both Jumia Technologies and Segall Bryant 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 Jumia Technologies and Segall Bryant into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Jumia Technologies AG and Segall Bryant Hamill, you can compare the effects of market volatilities on Jumia Technologies and Segall Bryant 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 Jumia Technologies with a short position of Segall Bryant. Check out your portfolio center. Please also check ongoing floating volatility patterns of Jumia Technologies and Segall Bryant.
Diversification Opportunities for Jumia Technologies and Segall Bryant
0.74 | Correlation Coefficient |
Poor diversification
The 3 months correlation between Jumia and Segall is 0.74. Overlapping area represents the amount of risk that can be diversified away by holding Jumia Technologies AG and Segall Bryant Hamill in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Segall Bryant Hamill and Jumia Technologies 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 Jumia Technologies AG are associated (or correlated) with Segall Bryant. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Segall Bryant Hamill has no effect on the direction of Jumia Technologies i.e., Jumia Technologies and Segall Bryant go up and down completely randomly.
Pair Corralation between Jumia Technologies and Segall Bryant
Given the investment horizon of 90 days Jumia Technologies AG is expected to generate 8.77 times more return on investment than Segall Bryant. However, Jumia Technologies is 8.77 times more volatile than Segall Bryant Hamill. It trades about 0.28 of its potential returns per unit of risk. Segall Bryant Hamill is currently generating about 0.22 per unit of risk. If you would invest 343.00 in Jumia Technologies AG on June 7, 2025 and sell it today you would earn a total of 543.00 from holding Jumia Technologies AG or generate 158.31% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Significant |
| Accuracy | 98.39% |
| Values | Daily Returns |
Jumia Technologies AG vs. Segall Bryant Hamill
Performance |
| Timeline |
| Jumia Technologies |
| Segall Bryant Hamill |
Jumia Technologies and Segall Bryant Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Jumia Technologies and Segall Bryant
The main advantage of trading using opposite Jumia Technologies and Segall Bryant positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Jumia Technologies position performs unexpectedly, Segall Bryant 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 Segall Bryant will offset losses from the drop in Segall Bryant's long position.| Jumia Technologies vs. Sea | Jumia Technologies vs. Global E Online | Jumia Technologies vs. Trade Desk | Jumia Technologies vs. SHOPIFY INC |
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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 Efficient Frontier module to plot and analyze your portfolio and positions against risk-return landscape of the market..
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