Correlation Between JPMorgan Chase and Boot Barn
Can any of the company-specific risk be diversified away by investing in both JPMorgan Chase and Boot Barn 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 Chase and Boot Barn into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between JPMorgan Chase Co and Boot Barn Holdings, you can compare the effects of market volatilities on JPMorgan Chase and Boot Barn 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 Boot Barn. Check out your portfolio center. Please also check ongoing floating volatility patterns of JPMorgan Chase and Boot Barn.
Diversification Opportunities for JPMorgan Chase and Boot Barn
0.14 | Correlation Coefficient |
Average diversification
The 3 months correlation between JPMorgan and Boot is 0.14. Overlapping area represents the amount of risk that can be diversified away by holding JPMorgan Chase Co and Boot Barn Holdings in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Boot Barn Holdings 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 Boot Barn. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Boot Barn Holdings has no effect on the direction of JPMorgan Chase i.e., JPMorgan Chase and Boot Barn go up and down completely randomly.
Pair Corralation between JPMorgan Chase and Boot Barn
Considering the 90-day investment horizon JPMorgan Chase is expected to generate 4.93 times less return on investment than Boot Barn. But when comparing it to its historical volatility, JPMorgan Chase Co is 2.92 times less risky than Boot Barn. It trades about 0.16 of its potential returns per unit of risk. Boot Barn Holdings is currently generating about 0.27 of returns per unit of risk over similar time horizon. If you would invest 16,706 in Boot Barn Holdings on June 6, 2025 and sell it today you would earn a total of 2,382 from holding Boot Barn Holdings or generate 14.26% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
JPMorgan Chase Co vs. Boot Barn Holdings
Performance |
| Timeline |
| JPMorgan Chase |
| Boot Barn Holdings |
JPMorgan Chase and Boot Barn Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with JPMorgan Chase and Boot Barn
The main advantage of trading using opposite JPMorgan Chase and Boot Barn positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if JPMorgan Chase position performs unexpectedly, Boot Barn 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 Boot Barn will offset losses from the drop in Boot Barn's long position.| JPMorgan Chase vs. Citigroup | JPMorgan Chase vs. Toronto Dominion Bank | JPMorgan Chase vs. Nu Holdings | JPMorgan Chase vs. Goldman Sachs Group |
| Boot Barn vs. Burlington Stores | Boot Barn vs. Buckle Inc | Boot Barn vs. Carters | Boot Barn vs. Citi Trends |
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 Suggestion module to get suggestions outside of your existing asset allocation including your own model portfolios.
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