Correlation Between ACCESS BANK and SIC INSURANCE
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By analyzing existing cross correlation between ACCESS BANK GHANA and SIC INSURANCE ANY, you can compare the effects of market volatilities on ACCESS BANK and SIC INSURANCE 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 ACCESS BANK with a short position of SIC INSURANCE. Check out your portfolio center. Please also check ongoing floating volatility patterns of ACCESS BANK and SIC INSURANCE.
Diversification Opportunities for ACCESS BANK and SIC INSURANCE
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between ACCESS and SIC is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding ACCESS BANK GHANA and SIC INSURANCE ANY in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on SIC INSURANCE ANY and ACCESS BANK 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 ACCESS BANK GHANA are associated (or correlated) with SIC INSURANCE. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of SIC INSURANCE ANY has no effect on the direction of ACCESS BANK i.e., ACCESS BANK and SIC INSURANCE go up and down completely randomly.
Pair Corralation between ACCESS BANK and SIC INSURANCE
If you would invest 432.00 in ACCESS BANK GHANA on August 31, 2024 and sell it today you would earn a total of 43.00 from holding ACCESS BANK GHANA or generate 9.95% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
ACCESS BANK GHANA vs. SIC INSURANCE ANY
Performance |
| Timeline |
| ACCESS BANK GHANA |
| SIC INSURANCE ANY |
ACCESS BANK and SIC INSURANCE Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with ACCESS BANK and SIC INSURANCE
The main advantage of trading using opposite ACCESS BANK and SIC INSURANCE positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if ACCESS BANK position performs unexpectedly, SIC INSURANCE 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 SIC INSURANCE will offset losses from the drop in SIC INSURANCE's long position.| ACCESS BANK vs. REPUBLIC BANK LIMITED | ACCESS BANK vs. ECOBANK GHANA LIMITED | ACCESS BANK vs. DIGICUT ADVERTISING PRODUCTION | ACCESS BANK vs. AGRICULTURAL DEVELOPMENT BANK |
| SIC INSURANCE vs. REPUBLIC BANK LIMITED | SIC INSURANCE vs. TRUST BANK LIMITED | SIC INSURANCE vs. SAMBA FOODS LIMITED | SIC INSURANCE vs. STANDARD CHARTERED BANK |
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 Volatility Analysis module to get historical volatility and risk analysis based on latest market data.
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