Correlation Between JetBlue Airways and ACCESS Newswire

Can any of the company-specific risk be diversified away by investing in both JetBlue Airways and ACCESS Newswire 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 JetBlue Airways and ACCESS Newswire into the same portfolio, which is an essential part of the fundamental portfolio management process.

By analyzing existing cross correlation between JetBlue Airways Corp and ACCESS Newswire, you can compare the effects of market volatilities on JetBlue Airways and ACCESS Newswire 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 JetBlue Airways with a short position of ACCESS Newswire. Check out your portfolio center. Please also check ongoing floating volatility patterns of JetBlue Airways and ACCESS Newswire.

Diversification Opportunities for JetBlue Airways and ACCESS Newswire

-0.72

Correlation Coefficient

JetBlue Airways  ACCESS Newswire

Pay attention - limited upside

The 3 months correlation between JetBlue and ACCESS is -0.72. Overlapping area represents the amount of risk that can be diversified away by holding JetBlue Airways Corp and ACCESS Newswire in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on ACCESS Newswire and JetBlue Airways 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 JetBlue Airways Corp are associated (or correlated) with ACCESS Newswire. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of ACCESS Newswire has no effect on the direction of JetBlue Airways i.e., JetBlue Airways and ACCESS Newswire go up and down completely randomly.

Pair Corralation between JetBlue Airways and ACCESS Newswire

Given the investment horizon of 90 days JetBlue Airways is expected to generate 2.58 times less return on investment than ACCESS Newswire. In addition to that, JetBlue Airways is 1.16 times more volatile than ACCESS Newswire. It trades about 0.02 of its total potential returns per unit of risk. ACCESS Newswire is currently generating about 0.06 per unit of volatility. If you would invest  1,010  in ACCESS Newswire on May 28, 2025 and sell it today you would earn a total of  87.00  from holding ACCESS Newswire or generate 8.61% return on investment over 90 days.

Time Period	3 Months [change]
Direction	Moves Against
Strength	Weak
Accuracy	100.0%
Values	Daily Returns

JetBlue Airways Corp  vs.  ACCESS Newswire

JetBlue Airways Corp

Risk-Adjusted Performance

Weak

Compared to the overall equity markets, risk-adjusted returns on investments in JetBlue Airways Corp are ranked lower than 1 (%) of all global equities and portfolios over the last 90 days. In spite of comparatively stable essential indicators, JetBlue Airways is not utilizing all of its potentials. The latest stock price uproar, may contribute to short-horizon losses for the private investors.

ACCESS Newswire

Risk-Adjusted Performance

Soft

Compared to the overall equity markets, risk-adjusted returns on investments in ACCESS Newswire are ranked lower than 4 (%) of all global equities and portfolios over the last 90 days. In spite of comparatively conflicting fundamental indicators, ACCESS Newswire may actually be approaching a critical reversion point that can send shares even higher in September 2025.

Pair Trading with JetBlue Airways and ACCESS Newswire

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

The idea behind JetBlue Airways Corp and ACCESS Newswire 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 Analyst Advice module to analyst recommendations and target price estimates broken down by several categories.