Correlation Between Jpmorgan Smartretirement and Cleartrack Ret

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

By analyzing existing cross correlation between Jpmorgan Smartretirement Income and Cleartrack Ret Income, you can compare the effects of market volatilities on Jpmorgan Smartretirement and Cleartrack Ret 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 Jpmorgan Smartretirement with a short position of Cleartrack Ret. Check out your portfolio center. Please also check ongoing floating volatility patterns of Jpmorgan Smartretirement and Cleartrack Ret.

Diversification Opportunities for Jpmorgan Smartretirement and Cleartrack Ret

-0.73

Correlation Coefficient

Jpmorgan Smartretirement  Cleartrack Ret

Pay attention - limited upside

The 3 months correlation between Jpmorgan and Cleartrack is -0.73. Overlapping area represents the amount of risk that can be diversified away by holding Jpmorgan Smartretirement Incom and Cleartrack Ret Income in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Cleartrack Ret Income and Jpmorgan Smartretirement 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 Jpmorgan Smartretirement Income are associated (or correlated) with Cleartrack Ret. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Cleartrack Ret Income has no effect on the direction of Jpmorgan Smartretirement i.e., Jpmorgan Smartretirement and Cleartrack Ret go up and down completely randomly.

Pair Corralation between Jpmorgan Smartretirement and Cleartrack Ret

If you would invest  1,531  in Jpmorgan Smartretirement Income on April 24, 2025 and sell it today you would earn a total of  98.00  from holding Jpmorgan Smartretirement Income or generate 6.4% return on investment over 90 days.

Time Period	3 Months [change]
Direction	Moves Against
Strength	Weak
Accuracy	6.56%
Values	Daily Returns

Jpmorgan Smartretirement Incom  vs.  Cleartrack Ret Income

Jpmorgan Smartretirement

Risk-Adjusted Performance

Solid

Compared to the overall equity markets, risk-adjusted returns on investments in Jpmorgan Smartretirement Income are ranked lower than 25 (%) of all funds and portfolios of funds over the last 90 days. In spite of fairly weak basic indicators, Jpmorgan Smartretirement may actually be approaching a critical reversion point that can send shares even higher in August 2025.

Cleartrack Ret Income

Risk-Adjusted Performance

Very Weak

Over the last 90 days Cleartrack Ret Income has generated negative risk-adjusted returns adding no value to fund investors. In spite of fairly strong basic indicators, Cleartrack Ret is not utilizing all of its potentials. The current stock price disturbance, may contribute to short-term losses for the investors.

Pair Trading with Jpmorgan Smartretirement and Cleartrack Ret

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

The idea behind Jpmorgan Smartretirement Income and Cleartrack Ret Income 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 Dashboard module to portfolio dashboard that provides centralized access to all your investments.