Correlation Between Jamieson Wellness and Lassonde Industries
Can any of the company-specific risk be diversified away by investing in both Jamieson Wellness and Lassonde Industries 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 Jamieson Wellness and Lassonde Industries into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Jamieson Wellness and Lassonde Industries, you can compare the effects of market volatilities on Jamieson Wellness and Lassonde Industries 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 Jamieson Wellness with a short position of Lassonde Industries. Check out your portfolio center. Please also check ongoing floating volatility patterns of Jamieson Wellness and Lassonde Industries.
Diversification Opportunities for Jamieson Wellness and Lassonde Industries
0.24 | Correlation Coefficient |
Modest diversification
The 3 months correlation between Jamieson and Lassonde is 0.24. Overlapping area represents the amount of risk that can be diversified away by holding Jamieson Wellness and Lassonde Industries in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Lassonde Industries and Jamieson Wellness 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 Jamieson Wellness are associated (or correlated) with Lassonde Industries. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Lassonde Industries has no effect on the direction of Jamieson Wellness i.e., Jamieson Wellness and Lassonde Industries go up and down completely randomly.
Pair Corralation between Jamieson Wellness and Lassonde Industries
Assuming the 90 days trading horizon Jamieson Wellness is expected to under-perform the Lassonde Industries. But the stock apears to be less risky and, when comparing its historical volatility, Jamieson Wellness is 1.68 times less risky than Lassonde Industries. The stock trades about -0.01 of its potential returns per unit of risk. The Lassonde Industries is currently generating about 0.07 of returns per unit of risk over similar time horizon. If you would invest 21,092 in Lassonde Industries on August 17, 2025 and sell it today you would earn a total of 1,700 from holding Lassonde Industries or generate 8.06% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Jamieson Wellness vs. Lassonde Industries
Performance |
| Timeline |
| Jamieson Wellness |
| Lassonde Industries |
Jamieson Wellness and Lassonde Industries Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Jamieson Wellness and Lassonde Industries
The main advantage of trading using opposite Jamieson Wellness and Lassonde Industries positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Jamieson Wellness position performs unexpectedly, Lassonde Industries 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 Lassonde Industries will offset losses from the drop in Lassonde Industries' long position.| Jamieson Wellness vs. Lassonde Industries | Jamieson Wellness vs. SunOpta | Jamieson Wellness vs. D2L Inc | Jamieson Wellness vs. High Liner Foods |
| Lassonde Industries vs. Jamieson Wellness | Lassonde Industries vs. Rogers Sugar | Lassonde Industries vs. D2L Inc | Lassonde Industries vs. North West |
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 Economic Indicators module to top statistical indicators that provide insights into how an economy is performing.
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