Correlation Between Jowell Global and QVC
Can any of the company-specific risk be diversified away by investing in both Jowell Global and QVC 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 Jowell Global and QVC into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Jowell Global and QVC Group, you can compare the effects of market volatilities on Jowell Global and QVC 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 Jowell Global with a short position of QVC. Check out your portfolio center. Please also check ongoing floating volatility patterns of Jowell Global and QVC.
Diversification Opportunities for Jowell Global and QVC
-0.04 | Correlation Coefficient |
Good diversification
The 3 months correlation between Jowell and QVC is -0.04. Overlapping area represents the amount of risk that can be diversified away by holding Jowell Global and QVC Group in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on QVC Group and Jowell 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 Jowell Global are associated (or correlated) with QVC. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of QVC Group has no effect on the direction of Jowell Global i.e., Jowell Global and QVC go up and down completely randomly.
Pair Corralation between Jowell Global and QVC
Given the investment horizon of 90 days Jowell Global is expected to generate 4.9 times less return on investment than QVC. But when comparing it to its historical volatility, Jowell Global is 1.37 times less risky than QVC. It trades about 0.03 of its potential returns per unit of risk. QVC Group is currently generating about 0.11 of returns per unit of risk over similar time horizon. If you would invest 468.00 in QVC Group on May 31, 2025 and sell it today you would earn a total of 211.00 from holding QVC Group or generate 45.09% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 98.39% |
| Values | Daily Returns |
Jowell Global vs. QVC Group
Performance |
| Timeline |
| Jowell Global |
| QVC Group |
Jowell Global and QVC Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Jowell Global and QVC
The main advantage of trading using opposite Jowell Global and QVC positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Jowell Global position performs unexpectedly, QVC 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 QVC will offset losses from the drop in QVC's long position.| Jowell Global vs. Meiwu Technology Co | Jowell Global vs. AKA Brands Holding | Jowell Global vs. Alibaba Group Holding | Jowell Global vs. Jeffs Brands |
| QVC vs. Atlantic American | QVC vs. Old Republic International | QVC vs. Hudson Technologies | QVC vs. Barrick Mining |
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 Comparator module to compare the composition, asset allocations and performance of any two portfolios in your account.
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