Correlation Between Softlogic Life and EB Creasy
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By analyzing existing cross correlation between Softlogic Life Insurance and EB Creasy and, you can compare the effects of market volatilities on Softlogic Life and EB Creasy 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 Softlogic Life with a short position of EB Creasy. Check out your portfolio center. Please also check ongoing floating volatility patterns of Softlogic Life and EB Creasy.
Diversification Opportunities for Softlogic Life and EB Creasy
0.63 | Correlation Coefficient |
Poor diversification
The 3 months correlation between Softlogic and EBCRN0000 is 0.63. Overlapping area represents the amount of risk that can be diversified away by holding Softlogic Life Insurance and EB Creasy and in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on EB Creasy and Softlogic Life 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 Softlogic Life Insurance are associated (or correlated) with EB Creasy. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of EB Creasy has no effect on the direction of Softlogic Life i.e., Softlogic Life and EB Creasy go up and down completely randomly.
Pair Corralation between Softlogic Life and EB Creasy
Assuming the 90 days trading horizon Softlogic Life is expected to generate 2.94 times less return on investment than EB Creasy. But when comparing it to its historical volatility, Softlogic Life Insurance is 1.04 times less risky than EB Creasy. It trades about 0.03 of its potential returns per unit of risk. EB Creasy and is currently generating about 0.08 of returns per unit of risk over similar time horizon. If you would invest 2,430 in EB Creasy and on September 13, 2024 and sell it today you would earn a total of 140.00 from holding EB Creasy and or generate 5.76% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Significant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Softlogic Life Insurance vs. EB Creasy and
Performance |
| Timeline |
| Softlogic Life Insurance |
| EB Creasy |
Softlogic Life and EB Creasy Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Softlogic Life and EB Creasy
The main advantage of trading using opposite Softlogic Life and EB Creasy positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Softlogic Life position performs unexpectedly, EB Creasy 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 EB Creasy will offset losses from the drop in EB Creasy's long position.| Softlogic Life vs. Jat Holdings PLC | Softlogic Life vs. Lanka Credit and | Softlogic Life vs. VIDULLANKA PLC | Softlogic Life vs. Carson Cumberbatch PLC |
| EB Creasy vs. Softlogic Life Insurance | EB Creasy vs. Lanka Milk Foods | EB Creasy vs. DFCC Bank PLC | EB Creasy vs. Merchant Bank of |
Check out your portfolio center.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 Financial Widgets module to easily integrated Macroaxis content with over 30 different plug-and-play financial widgets.
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