Correlation Between Aspen Insurance and 093662AJ3
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By analyzing existing cross correlation between Aspen Insurance Holdings and HRB 25 15 JUL 28, you can compare the effects of market volatilities on Aspen Insurance and 093662AJ3 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 Aspen Insurance with a short position of 093662AJ3. Check out your portfolio center. Please also check ongoing floating volatility patterns of Aspen Insurance and 093662AJ3.
Diversification Opportunities for Aspen Insurance and 093662AJ3
0.17 | Correlation Coefficient |
Average diversification
The 3 months correlation between Aspen and 093662AJ3 is 0.17. Overlapping area represents the amount of risk that can be diversified away by holding Aspen Insurance Holdings and HRB 25 15 JUL 28 in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on HRB 25 15 and Aspen Insurance 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 Aspen Insurance Holdings are associated (or correlated) with 093662AJ3. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of HRB 25 15 has no effect on the direction of Aspen Insurance i.e., Aspen Insurance and 093662AJ3 go up and down completely randomly.
Pair Corralation between Aspen Insurance and 093662AJ3
Assuming the 90 days trading horizon Aspen Insurance Holdings is expected to generate 1.77 times more return on investment than 093662AJ3. However, Aspen Insurance is 1.77 times more volatile than HRB 25 15 JUL 28. It trades about 0.07 of its potential returns per unit of risk. HRB 25 15 JUL 28 is currently generating about -0.01 per unit of risk. If you would invest 2,022 in Aspen Insurance Holdings on September 2, 2024 and sell it today you would earn a total of 186.00 from holding Aspen Insurance Holdings or generate 9.2% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 96.83% |
| Values | Daily Returns |
Aspen Insurance Holdings vs. HRB 25 15 JUL 28
Performance |
| Timeline |
| Aspen Insurance Holdings |
| HRB 25 15 |
Aspen Insurance and 093662AJ3 Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Aspen Insurance and 093662AJ3
The main advantage of trading using opposite Aspen Insurance and 093662AJ3 positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Aspen Insurance position performs unexpectedly, 093662AJ3 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 093662AJ3 will offset losses from the drop in 093662AJ3's long position.| Aspen Insurance vs. Aspen Insurance Holdings | Aspen Insurance vs. Selective Insurance Group | Aspen Insurance vs. The Allstate | Aspen Insurance vs. AmTrust Financial Services |
| 093662AJ3 vs. Lipocine | 093662AJ3 vs. Western Digital | 093662AJ3 vs. Grupo Aeroportuario del | 093662AJ3 vs. Pentair PLC |
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 Technical Analysis module to check basic technical indicators and analysis based on most latest market data.
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