Correlation Between Nasdaq-100 Profund and Jag Large
Can any of the company-specific risk be diversified away by investing in both Nasdaq-100 Profund and Jag Large 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 Nasdaq-100 Profund and Jag Large into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Nasdaq 100 Profund Nasdaq 100 and Jag Large Cap, you can compare the effects of market volatilities on Nasdaq-100 Profund and Jag Large 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 Nasdaq-100 Profund with a short position of Jag Large. Check out your portfolio center. Please also check ongoing floating volatility patterns of Nasdaq-100 Profund and Jag Large.
Diversification Opportunities for Nasdaq-100 Profund and Jag Large
0.95 | Correlation Coefficient |
Almost no diversification
The 3 months correlation between Nasdaq-100 and Jag is 0.95. Overlapping area represents the amount of risk that can be diversified away by holding Nasdaq 100 Profund Nasdaq 100 and Jag Large Cap in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Jag Large Cap and Nasdaq-100 Profund 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 Nasdaq 100 Profund Nasdaq 100 are associated (or correlated) with Jag Large. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Jag Large Cap has no effect on the direction of Nasdaq-100 Profund i.e., Nasdaq-100 Profund and Jag Large go up and down completely randomly.
Pair Corralation between Nasdaq-100 Profund and Jag Large
Assuming the 90 days horizon Nasdaq-100 Profund is expected to generate 1.45 times less return on investment than Jag Large. But when comparing it to its historical volatility, Nasdaq 100 Profund Nasdaq 100 is 1.04 times less risky than Jag Large. It trades about 0.08 of its potential returns per unit of risk. Jag Large Cap is currently generating about 0.11 of returns per unit of risk over similar time horizon. If you would invest 2,116 in Jag Large Cap on August 16, 2025 and sell it today you would earn a total of 152.00 from holding Jag Large Cap or generate 7.18% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Strong |
| Accuracy | 100.0% |
| Values | Daily Returns |
Nasdaq 100 Profund Nasdaq 100 vs. Jag Large Cap
Performance |
| Timeline |
| Nasdaq 100 Profund |
| Jag Large Cap |
Nasdaq-100 Profund and Jag Large Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Nasdaq-100 Profund and Jag Large
The main advantage of trading using opposite Nasdaq-100 Profund and Jag Large positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Nasdaq-100 Profund position performs unexpectedly, Jag Large 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 Jag Large will offset losses from the drop in Jag Large's long position.| Nasdaq-100 Profund vs. Atac Inflation Rotation | Nasdaq-100 Profund vs. The Biondo Focus | Nasdaq-100 Profund vs. Emerald Banking And | Nasdaq-100 Profund vs. Wesmark Tactical Opportunity |
| Jag Large vs. Nuveen Large Cap | Jag Large vs. Paradigm Value Fund | Jag Large vs. Live Oak Health | Jag Large vs. Adirondack Small Cap |
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 Analyst Advice module to analyst recommendations and target price estimates broken down by several categories.
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