Correlation Between Bio Techne and Jefferies Financial
Can any of the company-specific risk be diversified away by investing in both Bio Techne and Jefferies Financial 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 Bio Techne and Jefferies Financial into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Bio Techne and Jefferies Financial Group, you can compare the effects of market volatilities on Bio Techne and Jefferies Financial 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 Bio Techne with a short position of Jefferies Financial. Check out your portfolio center. Please also check ongoing floating volatility patterns of Bio Techne and Jefferies Financial.
Diversification Opportunities for Bio Techne and Jefferies Financial
-0.83 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Bio and Jefferies is -0.83. Overlapping area represents the amount of risk that can be diversified away by holding Bio Techne and Jefferies Financial Group in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Jefferies Financial and Bio Techne 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 Bio Techne are associated (or correlated) with Jefferies Financial. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Jefferies Financial has no effect on the direction of Bio Techne i.e., Bio Techne and Jefferies Financial go up and down completely randomly.
Pair Corralation between Bio Techne and Jefferies Financial
Assuming the 90 days trading horizon Bio Techne is expected to generate 1.66 times more return on investment than Jefferies Financial. However, Bio Techne is 1.66 times more volatile than Jefferies Financial Group. It trades about 0.09 of its potential returns per unit of risk. Jefferies Financial Group is currently generating about -0.1 per unit of risk. If you would invest 1,024 in Bio Techne on September 1, 2025 and sell it today you would earn a total of 187.00 from holding Bio Techne or generate 18.26% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Significant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Bio Techne vs. Jefferies Financial Group
Performance |
| Timeline |
| Bio Techne |
| Jefferies Financial |
Bio Techne and Jefferies Financial Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Bio Techne and Jefferies Financial
The main advantage of trading using opposite Bio Techne and Jefferies Financial positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Bio Techne position performs unexpectedly, Jefferies Financial 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 Jefferies Financial will offset losses from the drop in Jefferies Financial's long position.| Bio Techne vs. Monster Beverage | Bio Techne vs. MAHLE Metal Leve | Bio Techne vs. Metalurgica Gerdau SA | Bio Techne vs. Iron Mountain Incorporated |
| Jefferies Financial vs. Dell Technologies | Jefferies Financial vs. Nordon Indstrias Metalrgicas | Jefferies Financial vs. Eastman Chemical | Jefferies Financial vs. Bio Techne |
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 Transaction History module to view history of all your transactions and understand their impact on performance.
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