Correlation Between IMAGIN MEDICAL and J JILL

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

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

Diversification Opportunities for IMAGIN MEDICAL and J JILL

0.0

Correlation Coefficient

IMAGIN MEDICAL  J JILL

Pay attention - limited upside

The 3 months correlation between IMAGIN and 1MJ1 is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding IMAGIN MEDICAL INC and J JILL INC in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on J JILL INC and IMAGIN MEDICAL 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 IMAGIN MEDICAL INC are associated (or correlated) with J JILL. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of J JILL INC has no effect on the direction of IMAGIN MEDICAL i.e., IMAGIN MEDICAL and J JILL go up and down completely randomly.

Pair Corralation between IMAGIN MEDICAL and J JILL

If you would invest  1,363  in J JILL INC on April 24, 2025 and sell it today you would lose (3.00) from holding J JILL INC or give up 0.22% of portfolio value over 90 days.

Time Period	3 Months [change]
Direction	Flat
Strength	Insignificant
Accuracy	98.44%
Values	Daily Returns

IMAGIN MEDICAL INC  vs.  J JILL INC

IMAGIN MEDICAL INC

Risk-Adjusted Performance

Very Weak

Over the last 90 days IMAGIN MEDICAL INC has generated negative risk-adjusted returns adding no value to investors with long positions. Despite nearly stable fundamental indicators, IMAGIN MEDICAL is not utilizing all of its potentials. The current stock price disturbance, may contribute to mid-run losses for the stockholders.

J JILL INC

Risk-Adjusted Performance

Weak

Compared to the overall equity markets, risk-adjusted returns on investments in J JILL INC are ranked lower than 1 (%) of all global equities and portfolios over the last 90 days. Despite nearly stable forward-looking indicators, J JILL is not utilizing all of its potentials. The current stock price disturbance, may contribute to mid-run losses for the stockholders.

Pair Trading with IMAGIN MEDICAL and J JILL

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

The idea behind IMAGIN MEDICAL INC and J JILL INC 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 Odds Of Bankruptcy module to get analysis of equity chance of financial distress in the next 2 years.