Correlation Between Microvast Holdings and JetBlue Airways
Can any of the company-specific risk be diversified away by investing in both Microvast Holdings and JetBlue Airways 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 Microvast Holdings and JetBlue Airways into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Microvast Holdings and JetBlue Airways Corp, you can compare the effects of market volatilities on Microvast Holdings and JetBlue Airways 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 Microvast Holdings with a short position of JetBlue Airways. Check out your portfolio center. Please also check ongoing floating volatility patterns of Microvast Holdings and JetBlue Airways.
Diversification Opportunities for Microvast Holdings and JetBlue Airways
-0.77 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Microvast and JetBlue is -0.77. Overlapping area represents the amount of risk that can be diversified away by holding Microvast Holdings and JetBlue Airways Corp in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on JetBlue Airways Corp and Microvast Holdings 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 Microvast Holdings are associated (or correlated) with JetBlue Airways. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of JetBlue Airways Corp has no effect on the direction of Microvast Holdings i.e., Microvast Holdings and JetBlue Airways go up and down completely randomly.
Pair Corralation between Microvast Holdings and JetBlue Airways
Given the investment horizon of 90 days Microvast Holdings is expected to generate 1.96 times more return on investment than JetBlue Airways. However, Microvast Holdings is 1.96 times more volatile than JetBlue Airways Corp. It trades about 0.18 of its potential returns per unit of risk. JetBlue Airways Corp is currently generating about -0.06 per unit of risk. If you would invest 289.00 in Microvast Holdings on August 13, 2025 and sell it today you would earn a total of 209.00 from holding Microvast Holdings or generate 72.32% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Microvast Holdings vs. JetBlue Airways Corp
Performance |
| Timeline |
| Microvast Holdings |
| JetBlue Airways Corp |
Microvast Holdings and JetBlue Airways Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Microvast Holdings and JetBlue Airways
The main advantage of trading using opposite Microvast Holdings and JetBlue Airways positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Microvast Holdings position performs unexpectedly, JetBlue Airways 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 JetBlue Airways will offset losses from the drop in JetBlue Airways' long position.| Microvast Holdings vs. Amprius Technologies | Microvast Holdings vs. Voyager Technologies, | Microvast Holdings vs. Energizer Holdings | Microvast Holdings vs. Solid Power |
| JetBlue Airways vs. Hertz Global Holdings | JetBlue Airways vs. Allegiant Travel | JetBlue Airways vs. Wheels Up Experience | JetBlue Airways vs. Pitney Bowes |
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 Alpha Finder module to use alpha and beta coefficients to find investment opportunities after accounting for the risk.
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