Correlation Between Vy Jpmorgan and Janus Global

Can any of the company-specific risk be diversified away by investing in both Vy Jpmorgan and Janus Global 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 Vy Jpmorgan and Janus Global into the same portfolio, which is an essential part of the fundamental portfolio management process.

By analyzing existing cross correlation between Vy Jpmorgan Small and Janus Global Technology, you can compare the effects of market volatilities on Vy Jpmorgan and Janus Global 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 Vy Jpmorgan with a short position of Janus Global. Check out your portfolio center. Please also check ongoing floating volatility patterns of Vy Jpmorgan and Janus Global.

Diversification Opportunities for Vy Jpmorgan and Janus Global

0.97

Correlation Coefficient

Vy Jpmorgan  Janus Global

Almost no diversification

The 3 months correlation between IJSIX and Janus is 0.97. Overlapping area represents the amount of risk that can be diversified away by holding Vy Jpmorgan Small and Janus Global Technology in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Janus Global Technology and Vy Jpmorgan 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 Vy Jpmorgan Small are associated (or correlated) with Janus Global. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Janus Global Technology has no effect on the direction of Vy Jpmorgan i.e., Vy Jpmorgan and Janus Global go up and down completely randomly.

Pair Corralation between Vy Jpmorgan and Janus Global

Assuming the 90 days horizon Vy Jpmorgan is expected to generate 1.68 times less return on investment than Janus Global. In addition to that, Vy Jpmorgan is 1.19 times more volatile than Janus Global Technology. It trades about 0.19 of its total potential returns per unit of risk. Janus Global Technology is currently generating about 0.37 per unit of volatility. If you would invest  5,925  in Janus Global Technology on May 1, 2025 and sell it today you would earn a total of  1,404  from holding Janus Global Technology or generate 23.7% return on investment over 90 days.

Time Period	3 Months [change]
Direction	Moves Together
Strength	Very Strong
Accuracy	100.0%
Values	Daily Returns

Vy Jpmorgan Small  vs.  Janus Global Technology

Vy Jpmorgan Small

Risk-Adjusted Performance

Good

Compared to the overall equity markets, risk-adjusted returns on investments in Vy Jpmorgan Small are ranked lower than 14 (%) of all funds and portfolios of funds over the last 90 days. In spite of fairly weak forward indicators, Vy Jpmorgan showed solid returns over the last few months and may actually be approaching a breakup point.

Janus Global Technology

Risk-Adjusted Performance

Strong

Compared to the overall equity markets, risk-adjusted returns on investments in Janus Global Technology are ranked lower than 29 (%) of all funds and portfolios of funds over the last 90 days. In spite of fairly weak basic indicators, Janus Global showed solid returns over the last few months and may actually be approaching a breakup point.

Pair Trading with Vy Jpmorgan and Janus Global

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

The idea behind Vy Jpmorgan Small and Janus Global Technology 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 Fundamentals Comparison module to compare fundamentals across multiple equities to find investing opportunities.