Correlation Between JetAI and PROG Holdings

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

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

Diversification Opportunities for JetAI and PROG Holdings

-0.58

Correlation Coefficient

JetAI  PROG Holdings

Excellent diversification

The 3 months correlation between JetAI and PROG is -0.58. Overlapping area represents the amount of risk that can be diversified away by holding JetAI Inc and PROG Holdings in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on PROG Holdings and JetAI 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 JetAI Inc are associated (or correlated) with PROG Holdings. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of PROG Holdings has no effect on the direction of JetAI i.e., JetAI and PROG Holdings go up and down completely randomly.

Pair Corralation between JetAI and PROG Holdings

Given the investment horizon of 90 days JetAI is expected to generate 3.98 times less return on investment than PROG Holdings. In addition to that, JetAI is 1.23 times more volatile than PROG Holdings. It trades about 0.01 of its total potential returns per unit of risk. PROG Holdings is currently generating about 0.07 per unit of volatility. If you would invest  3,043  in PROG Holdings on July 2, 2025 and sell it today you would earn a total of  297.00  from holding PROG Holdings or generate 9.76% return on investment over 90 days.

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

JetAI Inc  vs.  PROG Holdings

JetAI Inc

Risk-Adjusted Performance

Weakest

Compared to the overall equity markets, risk-adjusted returns on investments in JetAI Inc are ranked lower than 1 (%) of all global equities and portfolios over the last 90 days. Despite fairly strong basic indicators, JetAI is not utilizing all of its potentials. The newest stock price confusion, may contribute to short-horizon losses for the traders.

PROG Holdings

Risk-Adjusted Performance

Mild

Compared to the overall equity markets, risk-adjusted returns on investments in PROG Holdings are ranked lower than 5 (%) of all global equities and portfolios over the last 90 days. Despite nearly fragile basic indicators, PROG Holdings may actually be approaching a critical reversion point that can send shares even higher in October 2025.

Pair Trading with JetAI and PROG Holdings

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

The idea behind JetAI Inc and PROG 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 Portfolio Analyzer module to portfolio analysis module that provides access to portfolio diagnostics and optimization engine.