Correlation Between Jumia Technologies and Camping World

Can any of the company-specific risk be diversified away by investing in both Jumia Technologies and Camping World 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 Jumia Technologies and Camping World into the same portfolio, which is an essential part of the fundamental portfolio management process.

By analyzing existing cross correlation between Jumia Technologies AG and Camping World Holdings, you can compare the effects of market volatilities on Jumia Technologies and Camping World 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 Jumia Technologies with a short position of Camping World. Check out your portfolio center. Please also check ongoing floating volatility patterns of Jumia Technologies and Camping World.

Diversification Opportunities for Jumia Technologies and Camping World

0.16

Correlation Coefficient

Jumia Technologies  Camping World

Average diversification

The 3 months correlation between Jumia and Camping is 0.16. Overlapping area represents the amount of risk that can be diversified away by holding Jumia Technologies AG and Camping World Holdings in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Camping World Holdings and Jumia Technologies 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 Jumia Technologies AG are associated (or correlated) with Camping World. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Camping World Holdings has no effect on the direction of Jumia Technologies i.e., Jumia Technologies and Camping World go up and down completely randomly.

Pair Corralation between Jumia Technologies and Camping World

Given the investment horizon of 90 days Jumia Technologies AG is expected to generate 1.34 times more return on investment than Camping World. However, Jumia Technologies is 1.34 times more volatile than Camping World Holdings. It trades about 0.23 of its potential returns per unit of risk. Camping World Holdings is currently generating about 0.06 per unit of risk. If you would invest  240.00  in Jumia Technologies AG on May 7, 2025 and sell it today you would earn a total of  247.00  from holding Jumia Technologies AG or generate 102.92% return on investment over 90 days.

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

Jumia Technologies AG  vs.  Camping World Holdings

Jumia Technologies

Risk-Adjusted Performance

Solid

Compared to the overall equity markets, risk-adjusted returns on investments in Jumia Technologies AG are ranked lower than 18 (%) of all global equities and portfolios over the last 90 days. Despite somewhat unsteady forward indicators, Jumia Technologies sustained solid returns over the last few months and may actually be approaching a breakup point.

Camping World Holdings

Risk-Adjusted Performance

Soft

Compared to the overall equity markets, risk-adjusted returns on investments in Camping World Holdings are ranked lower than 4 (%) of all global equities and portfolios over the last 90 days. Despite fairly fragile basic indicators, Camping World demonstrated solid returns over the last few months and may actually be approaching a breakup point.

Pair Trading with Jumia Technologies and Camping World

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

The idea behind Jumia Technologies AG and Camping World Holdings 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 ETF Categories module to list of ETF categories grouped based on various criteria, such as the investment strategy or type of investments.