Correlation Between Chuys Holdings and Jack In

Can any of the company-specific risk be diversified away by investing in both Chuys Holdings and Jack In 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 Chuys Holdings and Jack In into the same portfolio, which is an essential part of the fundamental portfolio management process.

By analyzing existing cross correlation between Chuys Holdings and Jack In The, you can compare the effects of market volatilities on Chuys Holdings and Jack In 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 Chuys Holdings with a short position of Jack In. Check out your portfolio center. Please also check ongoing floating volatility patterns of Chuys Holdings and Jack In.

Diversification Opportunities for Chuys Holdings and Jack In

0.0

Correlation Coefficient

Chuys Holdings  Jack In

Pay attention - limited upside

The 3 months correlation between Chuys and Jack is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Chuys Holdings and Jack In The in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Jack In and Chuys 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 Chuys Holdings are associated (or correlated) with Jack In. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Jack In has no effect on the direction of Chuys Holdings i.e., Chuys Holdings and Jack In go up and down completely randomly.

Pair Corralation between Chuys Holdings and Jack In

If you would invest (100.00) in Chuys Holdings on December 4, 2024 and sell it today you would earn a total of  100.00  from holding Chuys Holdings or generate -100.0% return on investment over 90 days.

Time Period	3 Months [change]
Direction	Flat
Strength	Insignificant
Accuracy	0.0%
Values	Daily Returns

Chuys Holdings  vs.  Jack In The

Chuys Holdings

Risk-Adjusted Performance

Very Weak

Over the last 90 days Chuys Holdings has generated negative risk-adjusted returns adding no value to investors with long positions. In spite of fairly strong basic indicators, Chuys Holdings is not utilizing all of its potentials. The newest stock price disturbance, may contribute to short-term losses for the investors.

Jack In

Risk-Adjusted Performance

Very Weak

Over the last 90 days Jack In The has generated negative risk-adjusted returns adding no value to investors with long positions. Despite unfluctuating performance in the last few months, the Stock's fundamental indicators remain quite persistent which may send shares a bit higher in April 2025. The latest mess may also be a sign of long-standing up-swing for the company institutional investors.

Pair Trading with Chuys Holdings and Jack In

The main advantage of trading using opposite Chuys Holdings and Jack In positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Chuys Holdings position performs unexpectedly, Jack In 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 Jack In will offset losses from the drop in Jack In's long position.

The idea behind Chuys Holdings and Jack In The pairs trading is to make the combined position market-neutral, meaning the overall market's direction will not affect its win or loss (or potential downside or upside). This can be achieved by designing a pairs trade with two highly correlated stocks or equities that operate in a similar space or sector, making it possible to obtain profits through simple and relatively low-risk investment.

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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 Analyzer module to portfolio analysis module that provides access to portfolio diagnostics and optimization engine.