Correlation Between Assurant and LIFWZ Old
Can any of the company-specific risk be diversified away by investing in both Assurant and LIFWZ Old 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 LIFWZ Old into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Assurant and LIFWZ Old, you can compare the effects of market volatilities on Assurant and LIFWZ Old 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 LIFWZ Old. Check out your portfolio center. Please also check ongoing floating volatility patterns of Assurant and LIFWZ Old.
Diversification Opportunities for Assurant and LIFWZ Old
Pay attention - limited upside
The 3 months correlation between Assurant and LIFWZ is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Assurant and LIFWZ Old in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on LIFWZ Old 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 LIFWZ Old. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of LIFWZ Old has no effect on the direction of Assurant i.e., Assurant and LIFWZ Old go up and down completely randomly.
Pair Corralation between Assurant and LIFWZ Old
If you would invest (100.00) in LIFWZ Old on December 4, 2024 and sell it today you would earn a total of 100.00 from holding LIFWZ Old or generate -100.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 0.0% |
| Values | Daily Returns |
Assurant vs. LIFWZ Old
Performance |
| Timeline |
| Assurant |
| LIFWZ Old |
Risk-Adjusted Performance
Very Weak
Weak | Strong |
Assurant and LIFWZ Old Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Assurant and LIFWZ Old
The main advantage of trading using opposite Assurant and LIFWZ Old positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Assurant position performs unexpectedly, LIFWZ Old 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 LIFWZ Old will offset losses from the drop in LIFWZ Old's long position.| Assurant vs. Assured Guaranty | Assurant vs. Ambac Financial Group | Assurant vs. AMERISAFE | Assurant vs. Enact Holdings |
| LIFWZ Old vs. Yum Brands | LIFWZ Old vs. Delek Logistics Partners | LIFWZ Old vs. Ryanair Holdings PLC | LIFWZ Old vs. Norfolk Southern |
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 Crypto Correlations module to use cryptocurrency correlation module to diversify your cryptocurrency portfolio across multiple coins.
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