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Benchmark  United States  NYSE  11,048   18.542 Index Moved Up 0.17%  


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Collecting data for LEA and JCI ...

Correlation analysis between Lear and Johnson Correlation analysis between Lear and Johnson

   
Investment horizon:  
  30 Days    Login   to change
This module allows you to analyze existing cross correlation between Lear Corp and Johnson Controls Inc. You can compare the effects of market volatilities on Lear and Johnson 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 Lear with a short position of Johnson. Please also check ongoing floating volatility patterns of Lear and Johnson.
 
 Lear Corp.  vs   Johnson Controls Inc.
Daily Returns (%)
LEA   JCI   
 
Change Benchmark  Embed   Timeline 
Considering 30-days investment horizon, Lear is expected to generate 2.64 times less return on investment than Johnson. But when comparing it to its historical volatility, Lear Corp is 1.18 times less risky than Johnson. It trades about 0.2 of its potential returns per unit of risk. Johnson Controls Inc is currently generating about 0.46 of returns per unit of risk over similar time horizon. If you would invest  4,440  in Johnson Controls Inc on October 28, 2014 and sell it today you would earn a total of  549  from holding Johnson Controls Inc or generate 12.36% return on investment over 30 days.

Correlation Coefficient

0.39
Parameters
Time Period1 Month [change]
DirectionPositive JCI Moved Up vs LEA
StrengthVery Weak
Accuracy100.0%
ValuesDaily Returns

Diversification

Weak diversification
Overlapping area represents amount of risk that can be diversified away by holding Lear Corp. and Johnson Controls Inc. in the same portfolio assuming nothing else is changed
Investing ideals could easily outperform a given market if properly optimized
Get Johnson Controls Inc research report. Reports are available in pdf format. Click Johnson Report to view
  
Johnson Report  
Get Lear Corp research report. Reports are available in pdf format. Click Lear Report to view
  
Lear Report  

Historical Performance Chart

Comparative Volatility

Predicted Return Density
 
Change Benchmark  Embed   Returns 

Lear Corp

  
Compared with the overall equity markets, risk-adjusted returns on investments in Lear Corp are ranked lower than 11 (%) of all global equities and portfolios over the last 30 days.

Pair trading matchups for Lear

Johnson Controls Inc vs. Lear Corp
BorgWarner Inc vs. Lear Corp
TRW Automotive Holdings Corp vs. Lear Corp
Autoliv Inc vs. Lear Corp
WABCO Holdings Inc vs. Lear Corp
Gentex Corp vs. Lear Corp
Visteon Corporation vs. Lear Corp
Dana Holding Corporation vs. Lear Corp
Tenneco Inc vs. Lear Corp
  

Johnson Controls

  
Compared with the overall equity markets, risk-adjusted returns on investments in Johnson Controls Inc are ranked lower than 26 (%) of all global equities and portfolios over the last 30 days.

Pair trading matchups for Johnson

BorgWarner Inc vs. Johnson Controls Inc
TRW Automotive Holdings Corp vs. Johnson Controls Inc
Autoliv Inc vs. Johnson Controls Inc
Lear Corp vs. Johnson Controls Inc
WABCO Holdings Inc vs. Johnson Controls Inc
Gentex Corp vs. Johnson Controls Inc
Visteon Corporation vs. Johnson Controls Inc
Dana Holding Corporation vs. Johnson Controls Inc
Tenneco Inc vs. Johnson Controls Inc


 

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