Correlation Between Janus Global and Elfun Government
Can any of the company-specific risk be diversified away by investing in both Janus Global and Elfun Government 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 Janus Global and Elfun Government into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Janus Global Allocation and Elfun Government Money, you can compare the effects of market volatilities on Janus Global and Elfun Government 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 Janus Global with a short position of Elfun Government. Check out your portfolio center. Please also check ongoing floating volatility patterns of Janus Global and Elfun Government.
Diversification Opportunities for Janus Global and Elfun Government
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Janus and Elfun is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Janus Global Allocation and Elfun Government Money in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Elfun Government Money and Janus Global 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 Janus Global Allocation are associated (or correlated) with Elfun Government. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Elfun Government Money has no effect on the direction of Janus Global i.e., Janus Global and Elfun Government go up and down completely randomly.
Pair Corralation between Janus Global and Elfun Government
If you would invest 1,375 in Janus Global Allocation on June 4, 2025 and sell it today you would earn a total of 82.00 from holding Janus Global Allocation or generate 5.96% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 96.88% |
| Values | Daily Returns |
Janus Global Allocation vs. Elfun Government Money
Performance |
| Timeline |
| Janus Global Allocation |
| Elfun Government Money |
Janus Global and Elfun Government Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Janus Global and Elfun Government
The main advantage of trading using opposite Janus Global and Elfun Government positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Janus Global position performs unexpectedly, Elfun Government 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 Elfun Government will offset losses from the drop in Elfun Government's long position.| Janus Global vs. Janus Global Allocation | Janus Global vs. Janus Global Allocation | Janus Global vs. Janus Global Select | Janus Global vs. Janus Triton Fund |
| Elfun Government vs. Rbc China Equity | Elfun Government vs. Dws Equity Sector | Elfun Government vs. Franklin Equity Income | Elfun Government vs. Balanced Fund Retail |
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 Earnings Calls module to check upcoming earnings announcements updated hourly across public exchanges.
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