Correlation Between JPMorgan Chase and Enbridge Pref
Specify exactly 2 symbols:
By analyzing existing cross correlation between JPMorgan Chase Co and Enbridge Pref 11, you can compare the effects of market volatilities on JPMorgan Chase and Enbridge Pref 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 Chase with a short position of Enbridge Pref. Check out your portfolio center. Please also check ongoing floating volatility patterns of JPMorgan Chase and Enbridge Pref.
Diversification Opportunities for JPMorgan Chase and Enbridge Pref
0.63 | Correlation Coefficient |
Poor diversification
The 3 months correlation between JPMorgan and Enbridge is 0.63. Overlapping area represents the amount of risk that can be diversified away by holding JPMorgan Chase Co and Enbridge Pref 11 in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Enbridge Pref 11 and JPMorgan Chase 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 Chase Co are associated (or correlated) with Enbridge Pref. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Enbridge Pref 11 has no effect on the direction of JPMorgan Chase i.e., JPMorgan Chase and Enbridge Pref go up and down completely randomly.
Pair Corralation between JPMorgan Chase and Enbridge Pref
Assuming the 90 days trading horizon JPMorgan Chase is expected to generate 1.69 times less return on investment than Enbridge Pref. In addition to that, JPMorgan Chase is 2.99 times more volatile than Enbridge Pref 11. It trades about 0.04 of its total potential returns per unit of risk. Enbridge Pref 11 is currently generating about 0.22 per unit of volatility. If you would invest 2,063 in Enbridge Pref 11 on July 20, 2025 and sell it today you would earn a total of 96.00 from holding Enbridge Pref 11 or generate 4.65% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Significant |
| Accuracy | 100.0% |
| Values | Daily Returns |
JPMorgan Chase Co vs. Enbridge Pref 11
Performance |
| Timeline |
| JPMorgan Chase |
| Enbridge Pref 11 |
JPMorgan Chase and Enbridge Pref Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with JPMorgan Chase and Enbridge Pref
The main advantage of trading using opposite JPMorgan Chase and Enbridge Pref positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if JPMorgan Chase position performs unexpectedly, Enbridge Pref 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 Enbridge Pref will offset losses from the drop in Enbridge Pref's long position.| JPMorgan Chase vs. Upstart Investments | JPMorgan Chase vs. Tree Island Steel | JPMorgan Chase vs. Hill Street Beverage | JPMorgan Chase vs. 2028 Investment Grade |
| Enbridge Pref vs. Dream Office Real | Enbridge Pref vs. Doman Building Materials | Enbridge Pref vs. Brookfield Office Properties | Enbridge Pref vs. Renoworks Software |
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 Money Flow Index module to determine momentum by analyzing Money Flow Index and other technical indicators.
Other Complementary Tools
| Equity Forecasting Use basic forecasting models to generate price predictions and determine price momentum | |
| Earnings Calls Check upcoming earnings announcements updated hourly across public exchanges | |
| Share Portfolio Track or share privately all of your investments from the convenience of any device | |
| Money Managers Screen money managers from public funds and ETFs managed around the world | |
| Portfolio Comparator Compare the composition, asset allocations and performance of any two portfolios in your account |