Correlation Between AXA SA and International General
Can any of the company-specific risk be diversified away by investing in both AXA SA and International General 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 AXA SA and International General into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between AXA SA and International General Insurance, you can compare the effects of market volatilities on AXA SA and International General 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 AXA SA with a short position of International General. Check out your portfolio center. Please also check ongoing floating volatility patterns of AXA SA and International General.
Diversification Opportunities for AXA SA and International General
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between AXA and International is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding AXA SA and International General Insuranc in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on International General and AXA SA 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 AXA SA are associated (or correlated) with International General. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of International General has no effect on the direction of AXA SA i.e., AXA SA and International General go up and down completely randomly.
Pair Corralation between AXA SA and International General
If you would invest 3,023 in AXA SA on November 9, 2024 and sell it today you would earn a total of 836.00 from holding AXA SA or generate 27.65% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 0.0% |
| Values | Daily Returns |
AXA SA vs. International General Insuranc
Performance |
| Timeline |
| AXA SA |
| International General |
Risk-Adjusted Performance
Very Weak
Weak | Strong |
AXA SA and International General Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with AXA SA and International General
The main advantage of trading using opposite AXA SA and International General positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if AXA SA position performs unexpectedly, International General 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 International General will offset losses from the drop in International General's long position.| AXA SA vs. Assicurazioni Generali SpA | AXA SA vs. Athene Holding | AXA SA vs. Athene Holding | AXA SA vs. Arch Capital Group |
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 Share Portfolio module to track or share privately all of your investments from the convenience of any device.
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