Correlation Between AIICO INSURANCE and UNION HOMES
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By analyzing existing cross correlation between AIICO INSURANCE PLC and UNION HOMES REAL, you can compare the effects of market volatilities on AIICO INSURANCE and UNION HOMES 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 AIICO INSURANCE with a short position of UNION HOMES. Check out your portfolio center. Please also check ongoing floating volatility patterns of AIICO INSURANCE and UNION HOMES.
Diversification Opportunities for AIICO INSURANCE and UNION HOMES
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between AIICO and UNION is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding AIICO INSURANCE PLC and UNION HOMES REAL in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on UNION HOMES REAL and AIICO 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 AIICO INSURANCE PLC are associated (or correlated) with UNION HOMES. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of UNION HOMES REAL has no effect on the direction of AIICO INSURANCE i.e., AIICO INSURANCE and UNION HOMES go up and down completely randomly.
Pair Corralation between AIICO INSURANCE and UNION HOMES
If you would invest 152.00 in AIICO INSURANCE PLC on October 23, 2024 and sell it today you would earn a total of 9.00 from holding AIICO INSURANCE PLC or generate 5.92% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
AIICO INSURANCE PLC vs. UNION HOMES REAL
Performance |
| Timeline |
| AIICO INSURANCE PLC |
| UNION HOMES REAL |
AIICO INSURANCE and UNION HOMES Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with AIICO INSURANCE and UNION HOMES
The main advantage of trading using opposite AIICO INSURANCE and UNION HOMES positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if AIICO INSURANCE position performs unexpectedly, UNION HOMES 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 UNION HOMES will offset losses from the drop in UNION HOMES's long position.| AIICO INSURANCE vs. ABC TRANSPORT PLC | AIICO INSURANCE vs. NEM INSURANCE PLC | AIICO INSURANCE vs. GOLDEN GUINEA BREWERIES | AIICO INSURANCE vs. UNITY BANK PLC |
| UNION HOMES vs. STANDARD ALLIANCE INSURANCE | UNION HOMES vs. INTERNATIONAL ENERGY INSURANCE | UNION HOMES vs. MULTI TREX INTEGRATED FOODS | UNION HOMES vs. CHAMPION BREWERIES 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 Pattern Recognition module to use different Pattern Recognition models to time the market across multiple global exchanges.
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