Correlation Between Assurant and 88023UAH4
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By analyzing existing cross correlation between Assurant and US88023UAH41, you can compare the effects of market volatilities on Assurant and 88023UAH4 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 88023UAH4. Check out your portfolio center. Please also check ongoing floating volatility patterns of Assurant and 88023UAH4.
Diversification Opportunities for Assurant and 88023UAH4
Excellent diversification
The 3 months correlation between Assurant and 88023UAH4 is -0.52. Overlapping area represents the amount of risk that can be diversified away by holding Assurant and US88023UAH41 in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on US88023UAH41 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 88023UAH4. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of US88023UAH41 has no effect on the direction of Assurant i.e., Assurant and 88023UAH4 go up and down completely randomly.
Pair Corralation between Assurant and 88023UAH4
Considering the 90-day investment horizon Assurant is expected to generate 0.32 times more return on investment than 88023UAH4. However, Assurant is 3.11 times less risky than 88023UAH4. It trades about 0.14 of its potential returns per unit of risk. US88023UAH41 is currently generating about 0.01 per unit of risk. If you would invest 20,998 in Assurant on September 12, 2024 and sell it today you would earn a total of 633.00 from holding Assurant or generate 3.01% 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. US88023UAH41
Performance |
| Timeline |
| Assurant |
| US88023UAH41 |
Assurant and 88023UAH4 Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Assurant and 88023UAH4
The main advantage of trading using opposite Assurant and 88023UAH4 positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Assurant position performs unexpectedly, 88023UAH4 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 88023UAH4 will offset losses from the drop in 88023UAH4's long position.| Assurant vs. Assured Guaranty | Assurant vs. Ambac Financial Group | Assurant vs. AMERISAFE | Assurant vs. Enact Holdings |
| 88023UAH4 vs. Employers Holdings | 88023UAH4 vs. Assurant | 88023UAH4 vs. ICC Holdings | 88023UAH4 vs. Ispire Technology Common |
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 Investing Opportunities module to build portfolios using our predefined set of ideas and optimize them against your investing preferences.
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