Correlation Between ASO SAVINGS and STERLING FINANCIAL
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By analyzing existing cross correlation between ASO SAVINGS AND and STERLING FINANCIAL HOLDINGS, you can compare the effects of market volatilities on ASO SAVINGS and STERLING FINANCIAL 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 ASO SAVINGS with a short position of STERLING FINANCIAL. Check out your portfolio center. Please also check ongoing floating volatility patterns of ASO SAVINGS and STERLING FINANCIAL.
Diversification Opportunities for ASO SAVINGS and STERLING FINANCIAL
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between ASO and STERLING is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding ASO SAVINGS AND and STERLING FINANCIAL HOLDINGS in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on STERLING FINANCIAL and ASO SAVINGS 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 ASO SAVINGS AND are associated (or correlated) with STERLING FINANCIAL. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of STERLING FINANCIAL has no effect on the direction of ASO SAVINGS i.e., ASO SAVINGS and STERLING FINANCIAL go up and down completely randomly.
Pair Corralation between ASO SAVINGS and STERLING FINANCIAL
If you would invest 493.00 in STERLING FINANCIAL HOLDINGS on September 19, 2024 and sell it today you would lose (3.00) from holding STERLING FINANCIAL HOLDINGS or give up 0.61% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
ASO SAVINGS AND vs. STERLING FINANCIAL HOLDINGS
Performance |
| Timeline |
| ASO SAVINGS AND |
| STERLING FINANCIAL |
ASO SAVINGS and STERLING FINANCIAL Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with ASO SAVINGS and STERLING FINANCIAL
The main advantage of trading using opposite ASO SAVINGS and STERLING FINANCIAL positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if ASO SAVINGS position performs unexpectedly, STERLING FINANCIAL 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 STERLING FINANCIAL will offset losses from the drop in STERLING FINANCIAL's long position.| ASO SAVINGS vs. GUINEA INSURANCE PLC | ASO SAVINGS vs. SECURE ELECTRONIC TECHNOLOGY | ASO SAVINGS vs. VFD GROUP | ASO SAVINGS vs. IKEJA HOTELS PLC |
| STERLING FINANCIAL vs. GUINEA INSURANCE PLC | STERLING FINANCIAL vs. SECURE ELECTRONIC TECHNOLOGY | STERLING FINANCIAL vs. VFD GROUP | STERLING FINANCIAL vs. IKEJA HOTELS PLC |
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 Performance Analysis module to check effects of mean-variance optimization against your current asset allocation.
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