Correlation Between Assurant and Icici
Can any of the company-specific risk be diversified away by investing in both Assurant and Icici at the same time? Although using a correlation coefficient on its own may not help to predict future stock returns, this module helps to understand the diversifiable risk of combining Assurant and Icici into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Assurant and Icici, you can compare the effects of market volatilities on Assurant and Icici 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 Assurant with a short position of Icici. Check out your portfolio center. Please also check ongoing floating volatility patterns of Assurant and Icici.
Diversification Opportunities for Assurant and Icici
Pay attention - limited upside
The 3 months correlation between Assurant and Icici is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Assurant and Icici in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Icici and Assurant 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 Assurant are associated (or correlated) with Icici. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Icici has no effect on the direction of Assurant i.e., Assurant and Icici go up and down completely randomly.
Pair Corralation between Assurant and Icici
If you would invest 19,063 in Assurant on September 12, 2024 and sell it today you would earn a total of 2,600 from holding Assurant or generate 13.64% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 0.0% |
| Values | Daily Returns |
Assurant vs. Icici
Performance |
| Timeline |
| Assurant |
| Icici |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
Assurant and Icici Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Assurant and Icici
The main advantage of trading using opposite Assurant and Icici positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Assurant position performs unexpectedly, Icici 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 Icici will offset losses from the drop in Icici's long position.| Assurant vs. Assured Guaranty | Assurant vs. Ambac Financial Group | Assurant vs. AMERISAFE | Assurant vs. Enact Holdings |
| Icici vs. Avis Budget Group | Icici vs. Hertz Global Holdings | Icici vs. Chipotle Mexican Grill | Icici vs. Global Ship Lease |
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 Balance Of Power module to check stock momentum by analyzing Balance Of Power indicator and other technical ratios.
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