Correlation Between Assurant and ALPHABET
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By analyzing existing cross correlation between Assurant and ALPHABET INC, you can compare the effects of market volatilities on Assurant and ALPHABET 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 ALPHABET. Check out your portfolio center. Please also check ongoing floating volatility patterns of Assurant and ALPHABET.
Diversification Opportunities for Assurant and ALPHABET
Very good diversification
The 3 months correlation between Assurant and ALPHABET is -0.47. Overlapping area represents the amount of risk that can be diversified away by holding Assurant and ALPHABET INC in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on ALPHABET INC 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 ALPHABET. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of ALPHABET INC has no effect on the direction of Assurant i.e., Assurant and ALPHABET go up and down completely randomly.
Pair Corralation between Assurant and ALPHABET
Considering the 90-day investment horizon Assurant is expected to generate 1.78 times more return on investment than ALPHABET. However, Assurant is 1.78 times more volatile than ALPHABET INC. It trades about 0.52 of its potential returns per unit of risk. ALPHABET INC is currently generating about 0.08 per unit of risk. If you would invest 19,170 in Assurant on September 1, 2024 and sell it today you would earn a total of 3,540 from holding Assurant or generate 18.47% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Assurant vs. ALPHABET INC
Performance |
| Timeline |
| Assurant |
| ALPHABET INC |
Assurant and ALPHABET Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Assurant and ALPHABET
The main advantage of trading using opposite Assurant and ALPHABET positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Assurant position performs unexpectedly, ALPHABET 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 ALPHABET will offset losses from the drop in ALPHABET's long position.| Assurant vs. Assured Guaranty | Assurant vs. Ambac Financial Group | Assurant vs. AMERISAFE | Assurant vs. Enact Holdings |
| ALPHABET vs. Diageo PLC ADR | ALPHABET vs. Anheuser Busch Inbev | ALPHABET vs. Monster Beverage Corp | ALPHABET vs. Assurant |
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 Equity Valuation module to check real value of public entities based on technical and fundamental data.
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