Correlation Between Assurant and 594918AM6
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By analyzing existing cross correlation between Assurant and MICROSOFT P 53, you can compare the effects of market volatilities on Assurant and 594918AM6 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 594918AM6. Check out your portfolio center. Please also check ongoing floating volatility patterns of Assurant and 594918AM6.
Diversification Opportunities for Assurant and 594918AM6
Excellent diversification
The 3 months correlation between Assurant and 594918AM6 is -0.55. Overlapping area represents the amount of risk that can be diversified away by holding Assurant and MICROSOFT P 53 in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on MICROSOFT P 53 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 594918AM6. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of MICROSOFT P 53 has no effect on the direction of Assurant i.e., Assurant and 594918AM6 go up and down completely randomly.
Pair Corralation between Assurant and 594918AM6
Considering the 90-day investment horizon Assurant is expected to generate 0.8 times more return on investment than 594918AM6. However, Assurant is 1.25 times less risky than 594918AM6. It trades about 0.15 of its potential returns per unit of risk. MICROSOFT P 53 is currently generating about -0.16 per unit of risk. If you would invest 21,248 in Assurant on September 14, 2024 and sell it today you would earn a total of 678.00 from holding Assurant or generate 3.19% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 90.91% |
| Values | Daily Returns |
Assurant vs. MICROSOFT P 53
Performance |
| Timeline |
| Assurant |
| MICROSOFT P 53 |
Assurant and 594918AM6 Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Assurant and 594918AM6
The main advantage of trading using opposite Assurant and 594918AM6 positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Assurant position performs unexpectedly, 594918AM6 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 594918AM6 will offset losses from the drop in 594918AM6's long position.| Assurant vs. Assured Guaranty | Assurant vs. Ambac Financial Group | Assurant vs. AMERISAFE | Assurant vs. Enact Holdings |
| 594918AM6 vs. Taiwan Semiconductor Manufacturing | 594918AM6 vs. Insteel Industries | 594918AM6 vs. MagnaChip Semiconductor | 594918AM6 vs. Vishay Intertechnology |
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 Stock Tickers module to use high-impact, comprehensive, and customizable stock tickers that can be easily integrated to any websites.
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