Correlation Between AFRICAN ALLIANCE and AXAMANSARD INSURANCE
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By analyzing existing cross correlation between AFRICAN ALLIANCE INSURANCE and AXAMANSARD INSURANCE PLC, you can compare the effects of market volatilities on AFRICAN ALLIANCE and AXAMANSARD 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 AFRICAN ALLIANCE with a short position of AXAMANSARD INSURANCE. Check out your portfolio center. Please also check ongoing floating volatility patterns of AFRICAN ALLIANCE and AXAMANSARD INSURANCE.
Diversification Opportunities for AFRICAN ALLIANCE and AXAMANSARD INSURANCE
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between AFRICAN and AXAMANSARD is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding AFRICAN ALLIANCE INSURANCE and AXAMANSARD INSURANCE PLC in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on AXAMANSARD INSURANCE PLC and AFRICAN ALLIANCE 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 AFRICAN ALLIANCE INSURANCE are associated (or correlated) with AXAMANSARD INSURANCE. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of AXAMANSARD INSURANCE PLC has no effect on the direction of AFRICAN ALLIANCE i.e., AFRICAN ALLIANCE and AXAMANSARD INSURANCE go up and down completely randomly.
Pair Corralation between AFRICAN ALLIANCE and AXAMANSARD INSURANCE
If you would invest 580.00 in AXAMANSARD INSURANCE PLC on November 6, 2024 and sell it today you would earn a total of 320.00 from holding AXAMANSARD INSURANCE PLC or generate 55.17% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
AFRICAN ALLIANCE INSURANCE vs. AXAMANSARD INSURANCE PLC
Performance |
| Timeline |
| AFRICAN ALLIANCE INS |
| AXAMANSARD INSURANCE PLC |
AFRICAN ALLIANCE and AXAMANSARD INSURANCE Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with AFRICAN ALLIANCE and AXAMANSARD INSURANCE
The main advantage of trading using opposite AFRICAN ALLIANCE and AXAMANSARD INSURANCE positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if AFRICAN ALLIANCE position performs unexpectedly, AXAMANSARD 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 AXAMANSARD INSURANCE will offset losses from the drop in AXAMANSARD INSURANCE's long position.| AFRICAN ALLIANCE vs. NEM INSURANCE PLC | AFRICAN ALLIANCE vs. AIICO INSURANCE PLC | AFRICAN ALLIANCE vs. ASO SAVINGS AND | AFRICAN ALLIANCE vs. FIDSON HEALTHCARE PLC |
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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 My Watchlist Analysis module to analyze my current watchlist and to refresh optimization strategy. Macroaxis watchlist is based on self-learning algorithm to remember stocks you like.
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