Correlation Between Jupiter Fund and Helmerich Payne

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

By analyzing existing cross correlation between Jupiter Fund Management and Helmerich Payne, you can compare the effects of market volatilities on Jupiter Fund and Helmerich Payne 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 Jupiter Fund with a short position of Helmerich Payne. Check out your portfolio center. Please also check ongoing floating volatility patterns of Jupiter Fund and Helmerich Payne.

Diversification Opportunities for Jupiter Fund and Helmerich Payne

-0.72

Correlation Coefficient

Jupiter Fund  Helmerich Payne

Pay attention - limited upside

The 3 months correlation between Jupiter and Helmerich is -0.72. Overlapping area represents the amount of risk that can be diversified away by holding Jupiter Fund Management and Helmerich Payne in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Helmerich Payne and Jupiter Fund 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 Jupiter Fund Management are associated (or correlated) with Helmerich Payne. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Helmerich Payne has no effect on the direction of Jupiter Fund i.e., Jupiter Fund and Helmerich Payne go up and down completely randomly.

Pair Corralation between Jupiter Fund and Helmerich Payne

Assuming the 90 days horizon Jupiter Fund Management is expected to generate 0.63 times more return on investment than Helmerich Payne. However, Jupiter Fund Management is 1.59 times less risky than Helmerich Payne. It trades about 0.32 of its potential returns per unit of risk. Helmerich Payne is currently generating about -0.14 per unit of risk. If you would invest  79.00  in Jupiter Fund Management on April 20, 2025 and sell it today you would earn a total of  63.00  from holding Jupiter Fund Management or generate 79.75% return on investment over 90 days.

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

Jupiter Fund Management  vs.  Helmerich Payne

Jupiter Fund Management

Risk-Adjusted Performance

Solid

Compared to the overall equity markets, risk-adjusted returns on investments in Jupiter Fund Management are ranked lower than 25 (%) of all global equities and portfolios over the last 90 days. Despite nearly uncertain basic indicators, Jupiter Fund reported solid returns over the last few months and may actually be approaching a breakup point.

Helmerich Payne

Risk-Adjusted Performance

Very Weak

Over the last 90 days Helmerich Payne 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 Jupiter Fund and Helmerich Payne

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

The idea behind Jupiter Fund Management and Helmerich Payne 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 Comparator module to compare the composition, asset allocations and performance of any two portfolios in your account.