Correlation Between JBS NV and Perfect Medical

Can any of the company-specific risk be diversified away by investing in both JBS NV and Perfect Medical 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 JBS NV and Perfect Medical into the same portfolio, which is an essential part of the fundamental portfolio management process.

By analyzing existing cross correlation between JBS NV and Perfect Medical Health, you can compare the effects of market volatilities on JBS NV and Perfect Medical 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 JBS NV with a short position of Perfect Medical. Check out your portfolio center. Please also check ongoing floating volatility patterns of JBS NV and Perfect Medical.

Diversification Opportunities for JBS NV and Perfect Medical

0.0

Correlation Coefficient

JBS NV  Perfect Medical

Pay attention - limited upside

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

Pair Corralation between JBS NV and Perfect Medical

If you would invest  27.00  in Perfect Medical Health on April 30, 2025 and sell it today you would earn a total of  0.00  from holding Perfect Medical Health or generate 0.0% return on investment over 90 days.

Time Period	3 Months [change]
Direction	Flat
Strength	Insignificant
Accuracy	50.79%
Values	Daily Returns

JBS NV  vs.  Perfect Medical Health

JBS NV

Risk-Adjusted Performance

Very Weak

Over the last 90 days JBS NV has generated negative risk-adjusted returns adding no value to investors with long positions. In spite of latest conflicting performance, the Stock's fundamental drivers remain stable and the newest uproar on Wall Street may also be a sign of mid-term gains for the firm private investors.

Perfect Medical Health

Risk-Adjusted Performance

Very Weak

Over the last 90 days Perfect Medical Health has generated negative risk-adjusted returns adding no value to investors with long positions. Despite nearly stable primary indicators, Perfect Medical is not utilizing all of its potentials. The latest stock price disturbance, may contribute to mid-run losses for the stockholders.

Pair Trading with JBS NV and Perfect Medical

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

The idea behind JBS NV and Perfect Medical Health 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 Manager module to state of the art Portfolio Manager to monitor and improve performance of your invested capital.