Correlation Between SmartStop Self and J J

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

By analyzing existing cross correlation between SmartStop Self Storage and J J Snack, you can compare the effects of market volatilities on SmartStop Self and J J 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 SmartStop Self with a short position of J J. Check out your portfolio center. Please also check ongoing floating volatility patterns of SmartStop Self and J J.

Diversification Opportunities for SmartStop Self and J J

-0.59

Correlation Coefficient

SmartStop Self  J J

Excellent diversification

The 3 months correlation between SmartStop and JJSF is -0.59. Overlapping area represents the amount of risk that can be diversified away by holding SmartStop Self Storage and J J Snack in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on J J Snack and SmartStop Self 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 SmartStop Self Storage are associated (or correlated) with J J. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of J J Snack has no effect on the direction of SmartStop Self i.e., SmartStop Self and J J go up and down completely randomly.

Pair Corralation between SmartStop Self and J J

Assuming the 90 days horizon SmartStop Self Storage is expected to generate 0.04 times more return on investment than J J. However, SmartStop Self Storage is 27.11 times less risky than J J. It trades about 0.22 of its potential returns per unit of risk. J J Snack is currently generating about -0.1 per unit of risk. If you would invest  3,276  in SmartStop Self Storage on April 20, 2025 and sell it today you would earn a total of  40.00  from holding SmartStop Self Storage or generate 1.22% return on investment over 90 days.

Time Period	3 Months [change]
Direction	Moves Against
Strength	Very Weak
Accuracy	96.88%
Values	Daily Returns

SmartStop Self Storage  vs.  J J Snack

SmartStop Self Storage

Risk-Adjusted Performance

Solid

Compared to the overall equity markets, risk-adjusted returns on investments in SmartStop Self Storage are ranked lower than 17 (%) of all global equities and portfolios over the last 90 days. Despite nearly stable technical and fundamental indicators, SmartStop Self is not utilizing all of its potentials. The latest stock price disturbance, may contribute to mid-run losses for the stockholders.

J J Snack

Risk-Adjusted Performance

Very Weak

Over the last 90 days J J Snack has generated negative risk-adjusted returns adding no value to investors with long positions. Despite uncertain performance in the last few months, the Stock's basic indicators remain nearly stable which may send shares a bit higher in August 2025. The current disturbance may also be a sign of long-run up-swing for the company stockholders.

Pair Trading with SmartStop Self and J J

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

The idea behind SmartStop Self Storage and J J Snack 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.