Correlation Between Victory Rs and Jhancock Global

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

By analyzing existing cross correlation between Victory Rs Global and Jhancock Global Equity, you can compare the effects of market volatilities on Victory Rs and Jhancock Global 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 Victory Rs with a short position of Jhancock Global. Check out your portfolio center. Please also check ongoing floating volatility patterns of Victory Rs and Jhancock Global.

Diversification Opportunities for Victory Rs and Jhancock Global

0.98

Correlation Coefficient

Victory Rs  Jhancock Global

Almost no diversification

The 3 months correlation between Victory and Jhancock is 0.98. Overlapping area represents the amount of risk that can be diversified away by holding Victory Rs Global and Jhancock Global Equity in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Jhancock Global Equity and Victory Rs 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 Victory Rs Global are associated (or correlated) with Jhancock Global. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Jhancock Global Equity has no effect on the direction of Victory Rs i.e., Victory Rs and Jhancock Global go up and down completely randomly.

Pair Corralation between Victory Rs and Jhancock Global

Assuming the 90 days horizon Victory Rs Global is expected to generate 1.03 times more return on investment than Jhancock Global. However, Victory Rs is 1.03 times more volatile than Jhancock Global Equity. It trades about 0.21 of its potential returns per unit of risk. Jhancock Global Equity is currently generating about 0.16 per unit of risk. If you would invest  2,270  in Victory Rs Global on May 5, 2025 and sell it today you would earn a total of  192.00  from holding Victory Rs Global or generate 8.46% return on investment over 90 days.

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

Victory Rs Global  vs.  Jhancock Global Equity

Victory Rs Global

Risk-Adjusted Performance

Solid

Compared to the overall equity markets, risk-adjusted returns on investments in Victory Rs Global are ranked lower than 16 (%) of all funds and portfolios of funds over the last 90 days. In spite of fairly weak fundamental indicators, Victory Rs may actually be approaching a critical reversion point that can send shares even higher in September 2025.

Jhancock Global Equity

Risk-Adjusted Performance

Good

Compared to the overall equity markets, risk-adjusted returns on investments in Jhancock Global Equity are ranked lower than 12 (%) of all funds and portfolios of funds over the last 90 days. In spite of fairly weak fundamental indicators, Jhancock Global may actually be approaching a critical reversion point that can send shares even higher in September 2025.

Pair Trading with Victory Rs and Jhancock Global

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

The idea behind Victory Rs Global and Jhancock Global Equity 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 Piotroski F Score module to get Piotroski F Score based on the binary analysis strategy of nine different fundamentals.