Correlation Analysis Between Jack In and Chipotle Mexican

This module allows you to analyze existing cross correlation between Jack In The Box and Chipotle Mexican Grill. You can compare the effects of market volatilities on Jack In and Chipotle Mexican 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 Jack In with a short position of Chipotle Mexican. See also your portfolio center. Please also check ongoing floating volatility patterns of Jack In and Chipotle Mexican.
Horizon     30 Days    Login   to change
Symbolsvs
Check Efficiency

Comparative Performance

Jack In The  
22

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Jack In The Box are ranked lower than 2 (%) of all global equities and portfolios over the last 30 days. Regardless of fairly consistent technical and fundamental indicators, Jack In is not utilizing all of its potentials. The prevalent stock price confusion, may contribute to short-horizon losses for the traders.
Chipotle Mexican Grill  
1111

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Chipotle Mexican Grill are ranked lower than 11 (%) of all global equities and portfolios over the last 30 days. In spite of rather fragile fundamental drivers, Chipotle Mexican exhibited solid returns over the last few months and may actually be approaching a breakup point.

Jack In and Chipotle Mexican Volatility Contrast

 Predicted Return Density 
      Returns 

Jack In The Box Inc  vs.  Chipotle Mexican Grill Inc

 Performance (%) 
      Timeline 

Pair Volatility

Given the investment horizon of 30 days, Jack In is expected to generate 2.76 times less return on investment than Chipotle Mexican. In addition to that, Jack In is 2.06 times more volatile than Chipotle Mexican Grill. It trades about 0.03 of its total potential returns per unit of risk. Chipotle Mexican Grill is currently generating about 0.17 per unit of volatility. If you would invest  73,635  in Chipotle Mexican Grill on July 19, 2019 and sell it today you would earn a total of  8,085  from holding Chipotle Mexican Grill or generate 10.98% return on investment over 30 days.

Pair Corralation between Jack In and Chipotle Mexican

0.01
Time Period2 Months [change]
DirectionPositive 
StrengthInsignificant
Accuracy100.0%
ValuesDaily Returns

Diversification Opportunities for Jack In and Chipotle Mexican

Jack In The Box Inc diversification synergy

Significant diversification

Overlapping area represents the amount of risk that can be diversified away by holding Jack In The Box Inc and Chipotle Mexican Grill Inc in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Chipotle Mexican Grill and Jack In 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 Jack In The Box are associated (or correlated) with Chipotle Mexican. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Chipotle Mexican Grill has no effect on the direction of Jack In i.e. Jack In and Chipotle Mexican go up and down completely randomly.
See also your portfolio center. Please also try Chance of Distress module to get analysis of equity chance of financial distress in the next 2 years.


 
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