Correlation Between Jackson Square and Monetta Fund
Can any of the company-specific risk be diversified away by investing in both Jackson Square and Monetta Fund 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 Jackson Square and Monetta Fund into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Jackson Square Smid Cap and Monetta Fund Monetta, you can compare the effects of market volatilities on Jackson Square and Monetta Fund 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 Jackson Square with a short position of Monetta Fund. Check out your portfolio center. Please also check ongoing floating volatility patterns of Jackson Square and Monetta Fund.
Diversification Opportunities for Jackson Square and Monetta Fund
0.29 | Correlation Coefficient |
Modest diversification
The 3 months correlation between Jackson and Monetta is 0.29. Overlapping area represents the amount of risk that can be diversified away by holding Jackson Square Smid Cap and Monetta Fund Monetta in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Monetta Fund Monetta and Jackson Square 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 Jackson Square Smid Cap are associated (or correlated) with Monetta Fund. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Monetta Fund Monetta has no effect on the direction of Jackson Square i.e., Jackson Square and Monetta Fund go up and down completely randomly.
Pair Corralation between Jackson Square and Monetta Fund
Assuming the 90 days horizon Jackson Square Smid Cap is expected to generate 0.48 times more return on investment than Monetta Fund. However, Jackson Square Smid Cap is 2.09 times less risky than Monetta Fund. It trades about 0.12 of its potential returns per unit of risk. Monetta Fund Monetta is currently generating about -0.09 per unit of risk. If you would invest 1,772 in Jackson Square Smid Cap on August 20, 2025 and sell it today you would earn a total of 154.00 from holding Jackson Square Smid Cap or generate 8.69% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Jackson Square Smid Cap vs. Monetta Fund Monetta
Performance |
| Timeline |
| Jackson Square Smid |
| Monetta Fund Monetta |
Jackson Square and Monetta Fund Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Jackson Square and Monetta Fund
The main advantage of trading using opposite Jackson Square and Monetta Fund positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Jackson Square position performs unexpectedly, Monetta Fund 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 Monetta Fund will offset losses from the drop in Monetta Fund's long position.| Jackson Square vs. Monetta Fund Monetta | Jackson Square vs. Amg Timessquare Small | Jackson Square vs. Reynolds Blue Chip | Jackson Square vs. Paradigm Select Fund |
| Monetta Fund vs. Jackson Square Smid Cap | Monetta Fund vs. Reynolds Blue Chip | Monetta Fund vs. Paradigm Select Fund | Monetta Fund vs. Amg Timessquare Small |
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 ETFs module to find actively traded Exchange Traded Funds (ETF) from around the world.
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