Correlation Between AIRTEL AFRICA and STACO INSURANCE
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By analyzing existing cross correlation between AIRTEL AFRICA PLC and STACO INSURANCE PLC, you can compare the effects of market volatilities on AIRTEL AFRICA and STACO 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 AIRTEL AFRICA with a short position of STACO INSURANCE. Check out your portfolio center. Please also check ongoing floating volatility patterns of AIRTEL AFRICA and STACO INSURANCE.
Diversification Opportunities for AIRTEL AFRICA and STACO INSURANCE
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between AIRTEL and STACO is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding AIRTEL AFRICA PLC and STACO INSURANCE PLC in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on STACO INSURANCE PLC and AIRTEL AFRICA 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 AIRTEL AFRICA PLC are associated (or correlated) with STACO INSURANCE. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of STACO INSURANCE PLC has no effect on the direction of AIRTEL AFRICA i.e., AIRTEL AFRICA and STACO INSURANCE go up and down completely randomly.
Pair Corralation between AIRTEL AFRICA and STACO INSURANCE
If you would invest 48.00 in STACO INSURANCE PLC on September 3, 2024 and sell it today you would earn a total of 0.00 from holding STACO INSURANCE PLC or generate 0.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
AIRTEL AFRICA PLC vs. STACO INSURANCE PLC
Performance |
| Timeline |
| AIRTEL AFRICA PLC |
| STACO INSURANCE PLC |
AIRTEL AFRICA and STACO INSURANCE Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with AIRTEL AFRICA and STACO INSURANCE
The main advantage of trading using opposite AIRTEL AFRICA and STACO INSURANCE positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if AIRTEL AFRICA position performs unexpectedly, STACO 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 STACO INSURANCE will offset losses from the drop in STACO INSURANCE's long position.| AIRTEL AFRICA vs. STACO INSURANCE PLC | AIRTEL AFRICA vs. BUA FOODS PLC | AIRTEL AFRICA vs. MULTIVERSE MINING AND | AIRTEL AFRICA vs. SECURE ELECTRONIC TECHNOLOGY |
| STACO INSURANCE vs. MULTI TREX INTEGRATED FOODS | STACO INSURANCE vs. CONSOLIDATED HALLMARK INSURANCE | STACO INSURANCE vs. SOVEREIGN TRUST INSURANCE | STACO INSURANCE vs. BUA FOODS 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 Global Markets Map module to get a quick overview of global market snapshot using zoomable world map. Drill down to check world indexes.
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