Correlation Between AIRTEL AFRICA and STANDARD ALLIANCE
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By analyzing existing cross correlation between AIRTEL AFRICA PLC and STANDARD ALLIANCE INSURANCE, you can compare the effects of market volatilities on AIRTEL AFRICA and STANDARD ALLIANCE 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 STANDARD ALLIANCE. Check out your portfolio center. Please also check ongoing floating volatility patterns of AIRTEL AFRICA and STANDARD ALLIANCE.
Diversification Opportunities for AIRTEL AFRICA and STANDARD ALLIANCE
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between AIRTEL and STANDARD is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding AIRTEL AFRICA PLC and STANDARD ALLIANCE INSURANCE in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on STANDARD ALLIANCE 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 STANDARD ALLIANCE. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of STANDARD ALLIANCE has no effect on the direction of AIRTEL AFRICA i.e., AIRTEL AFRICA and STANDARD ALLIANCE go up and down completely randomly.
Pair Corralation between AIRTEL AFRICA and STANDARD ALLIANCE
If you would invest 20.00 in STANDARD ALLIANCE INSURANCE on September 12, 2024 and sell it today you would earn a total of 0.00 from holding STANDARD ALLIANCE INSURANCE 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. STANDARD ALLIANCE INSURANCE
Performance |
| Timeline |
| AIRTEL AFRICA PLC |
| STANDARD ALLIANCE |
AIRTEL AFRICA and STANDARD ALLIANCE Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with AIRTEL AFRICA and STANDARD ALLIANCE
The main advantage of trading using opposite AIRTEL AFRICA and STANDARD ALLIANCE positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if AIRTEL AFRICA position performs unexpectedly, STANDARD ALLIANCE 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 STANDARD ALLIANCE will offset losses from the drop in STANDARD ALLIANCE's long position.| AIRTEL AFRICA vs. AIICO INSURANCE PLC | AIRTEL AFRICA vs. FIDSON HEALTHCARE PLC | AIRTEL AFRICA vs. NEM INSURANCE PLC | AIRTEL AFRICA vs. TRANSCORP HOTELS 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 Transaction History module to view history of all your transactions and understand their impact on performance.
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