Correlation Between Berkshire Hathaway and Assicurazioni Generali
Specify exactly 2 symbols:
By analyzing existing cross correlation between Berkshire Hathaway and Assicurazioni Generali SpA, you can compare the effects of market volatilities on Berkshire Hathaway and Assicurazioni Generali 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 Berkshire Hathaway with a short position of Assicurazioni Generali. Check out your portfolio center. Please also check ongoing floating volatility patterns of Berkshire Hathaway and Assicurazioni Generali.
Diversification Opportunities for Berkshire Hathaway and Assicurazioni Generali
0.58 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between Berkshire and Assicurazioni is 0.58. Overlapping area represents the amount of risk that can be diversified away by holding Berkshire Hathaway and Assicurazioni Generali SpA in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Assicurazioni Generali and Berkshire Hathaway 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 Berkshire Hathaway are associated (or correlated) with Assicurazioni Generali. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Assicurazioni Generali has no effect on the direction of Berkshire Hathaway i.e., Berkshire Hathaway and Assicurazioni Generali go up and down completely randomly.
Pair Corralation between Berkshire Hathaway and Assicurazioni Generali
Assuming the 90 days trading horizon Berkshire Hathaway is expected to generate 1.19 times less return on investment than Assicurazioni Generali. In addition to that, Berkshire Hathaway is 1.06 times more volatile than Assicurazioni Generali SpA. It trades about 0.13 of its total potential returns per unit of risk. Assicurazioni Generali SpA is currently generating about 0.17 per unit of volatility. If you would invest 1,816 in Assicurazioni Generali SpA on September 3, 2024 and sell it today you would earn a total of 893.00 from holding Assicurazioni Generali SpA or generate 49.17% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 98.01% |
| Values | Daily Returns |
Berkshire Hathaway vs. Assicurazioni Generali SpA
Performance |
| Timeline |
| Berkshire Hathaway |
| Assicurazioni Generali |
Berkshire Hathaway and Assicurazioni Generali Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Berkshire Hathaway and Assicurazioni Generali
The main advantage of trading using opposite Berkshire Hathaway and Assicurazioni Generali positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Berkshire Hathaway position performs unexpectedly, Assicurazioni Generali 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 Assicurazioni Generali will offset losses from the drop in Assicurazioni Generali's long position.| Berkshire Hathaway vs. Nippon Steel | Berkshire Hathaway vs. NIPPON STEEL SPADR | Berkshire Hathaway vs. MITSUBISHI STEEL MFG | Berkshire Hathaway vs. Singapore Reinsurance |
| Assicurazioni Generali vs. Berkshire Hathaway | Assicurazioni Generali vs. Allianz SE VNA | Assicurazioni Generali vs. AXA SA | Assicurazioni Generali vs. AXA SA |
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 Headlines Timeline module to stay connected to all market stories and filter out noise. Drill down to analyze hype elasticity.
Other Complementary Tools
| Alpha Finder Use alpha and beta coefficients to find investment opportunities after accounting for the risk | |
| ETF Categories List of ETF categories grouped based on various criteria, such as the investment strategy or type of investments | |
| Bond Analysis Evaluate and analyze corporate bonds as a potential investment for your portfolios. | |
| Funds Screener Find actively-traded funds from around the world traded on over 30 global exchanges | |
| Risk-Return Analysis View associations between returns expected from investment and the risk you assume |