Correlation Between JBG SMITH and INGERSOLL
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By analyzing existing cross correlation between JBG SMITH Properties and INGERSOLL RAND GLOBAL HLDG, you can compare the effects of market volatilities on JBG SMITH and INGERSOLL 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 JBG SMITH with a short position of INGERSOLL. Check out your portfolio center. Please also check ongoing floating volatility patterns of JBG SMITH and INGERSOLL.
Diversification Opportunities for JBG SMITH and INGERSOLL
Poor diversification
The 3 months correlation between JBG and INGERSOLL is 0.67. Overlapping area represents the amount of risk that can be diversified away by holding JBG SMITH Properties and INGERSOLL RAND GLOBAL HLDG in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on INGERSOLL RAND GLOBAL and JBG SMITH 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 JBG SMITH Properties are associated (or correlated) with INGERSOLL. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of INGERSOLL RAND GLOBAL has no effect on the direction of JBG SMITH i.e., JBG SMITH and INGERSOLL go up and down completely randomly.
Pair Corralation between JBG SMITH and INGERSOLL
Given the investment horizon of 90 days JBG SMITH Properties is expected to generate 5.49 times more return on investment than INGERSOLL. However, JBG SMITH is 5.49 times more volatile than INGERSOLL RAND GLOBAL HLDG. It trades about 0.04 of its potential returns per unit of risk. INGERSOLL RAND GLOBAL HLDG is currently generating about 0.04 per unit of risk. If you would invest 1,437 in JBG SMITH Properties on September 19, 2024 and sell it today you would earn a total of 97.00 from holding JBG SMITH Properties or generate 6.75% return on investment over 90 days.
Time Period | 3 Months [change] |
Direction | Moves Together |
Strength | Significant |
Accuracy | 91.27% |
Values | Daily Returns |
JBG SMITH Properties vs. INGERSOLL RAND GLOBAL HLDG
Performance |
Timeline |
JBG SMITH Properties |
INGERSOLL RAND GLOBAL |
JBG SMITH and INGERSOLL Volatility Contrast
Predicted Return Density |
Returns |
Pair Trading with JBG SMITH and INGERSOLL
The main advantage of trading using opposite JBG SMITH and INGERSOLL positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if JBG SMITH position performs unexpectedly, INGERSOLL 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 INGERSOLL will offset losses from the drop in INGERSOLL's long position.JBG SMITH vs. Cousins Properties Incorporated | JBG SMITH vs. Highwoods Properties | JBG SMITH vs. Douglas Emmett | JBG SMITH vs. Equity Commonwealth |
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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 Optimization module to compute new portfolio that will generate highest expected return given your specified tolerance for risk.
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