Correlation Between SLR Investment and JLT MOBILE

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Can any of the company-specific risk be diversified away by investing in both SLR Investment and JLT MOBILE 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 SLR Investment and JLT MOBILE into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between SLR Investment Corp and JLT MOBILE PUTER, you can compare the effects of market volatilities on SLR Investment and JLT MOBILE 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 SLR Investment with a short position of JLT MOBILE. Check out your portfolio center. Please also check ongoing floating volatility patterns of SLR Investment and JLT MOBILE.

Diversification Opportunities for SLR Investment and JLT MOBILE

SLRJLTDiversified AwaySLRJLTDiversified Away100%
-0.88
  Correlation Coefficient

Pay attention - limited upside

The 3 months correlation between SLR and JLT is -0.88. Overlapping area represents the amount of risk that can be diversified away by holding SLR Investment Corp and JLT MOBILE PUTER in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on JLT MOBILE PUTER and SLR Investment 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 SLR Investment Corp are associated (or correlated) with JLT MOBILE. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of JLT MOBILE PUTER has no effect on the direction of SLR Investment i.e., SLR Investment and JLT MOBILE go up and down completely randomly.

Pair Corralation between SLR Investment and JLT MOBILE

Assuming the 90 days horizon SLR Investment Corp is expected to generate 0.36 times more return on investment than JLT MOBILE. However, SLR Investment Corp is 2.76 times less risky than JLT MOBILE. It trades about 0.18 of its potential returns per unit of risk. JLT MOBILE PUTER is currently generating about -0.14 per unit of risk. If you would invest  1,381  in SLR Investment Corp on October 26, 2024 and sell it today you would earn a total of  220.00  from holding SLR Investment Corp or generate 15.93% return on investment over 90 days.
Time Period3 Months [change]
DirectionMoves Against 
StrengthSignificant
Accuracy100.0%
ValuesDaily Returns

SLR Investment Corp  vs.  JLT MOBILE PUTER

 Performance 
JavaScript chart by amCharts 3.21.15NovDec2025 -30-20-10010
JavaScript chart by amCharts 3.21.15ZSL KM8
       Timeline  
SLR Investment Corp 

Risk-Adjusted Performance

13 of 100

 
Weak
 
Strong
Good
Compared to the overall equity markets, risk-adjusted returns on investments in SLR Investment Corp are ranked lower than 13 (%) of all global equities and portfolios over the last 90 days. Despite nearly fragile basic indicators, SLR Investment reported solid returns over the last few months and may actually be approaching a breakup point.
JavaScript chart by amCharts 3.21.15NovDecJanDecJan13.51414.51515.516
JLT MOBILE PUTER 

Risk-Adjusted Performance

0 of 100

 
Weak
 
Strong
Very Weak
Over the last 90 days JLT MOBILE PUTER has generated negative risk-adjusted returns adding no value to investors with long positions. In spite of uncertain performance in the last few months, the Stock's basic indicators remain rather sound which may send shares a bit higher in February 2025. The latest tumult may also be a sign of longer-term up-swing for the firm shareholders.
JavaScript chart by amCharts 3.21.15NovDecJanDecJan0.170.180.190.20.210.220.230.240.25

SLR Investment and JLT MOBILE Volatility Contrast

   Predicted Return Density   
JavaScript chart by amCharts 3.21.15-4.32-3.24-2.15-1.070.01.172.363.554.74 0.050.100.150.20
JavaScript chart by amCharts 3.21.15ZSL KM8
       Returns  

Pair Trading with SLR Investment and JLT MOBILE

The main advantage of trading using opposite SLR Investment and JLT MOBILE positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if SLR Investment position performs unexpectedly, JLT MOBILE 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 JLT MOBILE will offset losses from the drop in JLT MOBILE's long position.
The idea behind SLR Investment Corp and JLT MOBILE PUTER 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 My Watchlist Analysis module to analyze my current watchlist and to refresh optimization strategy. Macroaxis watchlist is based on self-learning algorithm to remember stocks you like.

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