Correlation Between Aspen Insurance and 49446RAZ2
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By analyzing existing cross correlation between Aspen Insurance Holdings and KIM 32 01 APR 32, you can compare the effects of market volatilities on Aspen Insurance and 49446RAZ2 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 49446RAZ2. Check out your portfolio center. Please also check ongoing floating volatility patterns of Aspen Insurance and 49446RAZ2.
Diversification Opportunities for Aspen Insurance and 49446RAZ2
0.18 | Correlation Coefficient |
Average diversification
The 3 months correlation between Aspen and 49446RAZ2 is 0.18. Overlapping area represents the amount of risk that can be diversified away by holding Aspen Insurance Holdings and KIM 32 01 APR 32 in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on KIM 32 01 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 49446RAZ2. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of KIM 32 01 has no effect on the direction of Aspen Insurance i.e., Aspen Insurance and 49446RAZ2 go up and down completely randomly.
Pair Corralation between Aspen Insurance and 49446RAZ2
Assuming the 90 days trading horizon Aspen Insurance Holdings is expected to under-perform the 49446RAZ2. In addition to that, Aspen Insurance is 1.37 times more volatile than KIM 32 01 APR 32. It trades about -0.27 of its total potential returns per unit of risk. KIM 32 01 APR 32 is currently generating about -0.1 per unit of volatility. If you would invest 8,866 in KIM 32 01 APR 32 on January 14, 2025 and sell it today you would lose (169.00) from holding KIM 32 01 APR 32 or give up 1.91% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 68.18% |
| Values | Daily Returns |
Aspen Insurance Holdings vs. KIM 32 01 APR 32
Performance |
| Timeline |
| Aspen Insurance Holdings |
| KIM 32 01 |
Aspen Insurance and 49446RAZ2 Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Aspen Insurance and 49446RAZ2
The main advantage of trading using opposite Aspen Insurance and 49446RAZ2 positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Aspen Insurance position performs unexpectedly, 49446RAZ2 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 49446RAZ2 will offset losses from the drop in 49446RAZ2'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 |
| 49446RAZ2 vs. Quaker Chemical | 49446RAZ2 vs. Luxfer Holdings PLC | 49446RAZ2 vs. Braskem SA Class | 49446RAZ2 vs. Wingstop |
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 Top Crypto Exchanges module to search and analyze digital assets across top global cryptocurrency exchanges.
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