Correlation Between BUA FOODS and AXAMANSARD INSURANCE
Specify exactly 2 symbols:
By analyzing existing cross correlation between BUA FOODS PLC and AXAMANSARD INSURANCE PLC, you can compare the effects of market volatilities on BUA FOODS and AXAMANSARD INSURANCE 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 BUA FOODS with a short position of AXAMANSARD INSURANCE. Check out your portfolio center. Please also check ongoing floating volatility patterns of BUA FOODS and AXAMANSARD INSURANCE.
Diversification Opportunities for BUA FOODS and AXAMANSARD INSURANCE
0.86 | Correlation Coefficient |
Very poor diversification
The 3 months correlation between BUA and AXAMANSARD is 0.86. Overlapping area represents the amount of risk that can be diversified away by holding BUA FOODS PLC and AXAMANSARD INSURANCE PLC in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on AXAMANSARD INSURANCE PLC and BUA FOODS 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 BUA FOODS PLC are associated (or correlated) with AXAMANSARD INSURANCE. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of AXAMANSARD INSURANCE PLC has no effect on the direction of BUA FOODS i.e., BUA FOODS and AXAMANSARD INSURANCE go up and down completely randomly.
Pair Corralation between BUA FOODS and AXAMANSARD INSURANCE
If you would invest 41,500 in BUA FOODS PLC on November 5, 2024 and sell it today you would earn a total of 0.00 from holding BUA FOODS PLC or generate 0.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Strong |
| Accuracy | 100.0% |
| Values | Daily Returns |
BUA FOODS PLC vs. AXAMANSARD INSURANCE PLC
Performance |
| Timeline |
| BUA FOODS PLC |
| AXAMANSARD INSURANCE PLC |
BUA FOODS and AXAMANSARD INSURANCE Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with BUA FOODS and AXAMANSARD INSURANCE
The main advantage of trading using opposite BUA FOODS and AXAMANSARD INSURANCE positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if BUA FOODS position performs unexpectedly, AXAMANSARD INSURANCE 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 AXAMANSARD INSURANCE will offset losses from the drop in AXAMANSARD INSURANCE's long position.| BUA FOODS vs. C I LEASING | BUA FOODS vs. ASO SAVINGS AND | BUA FOODS vs. DEAP CAPITAL MANAGEMENT | BUA FOODS vs. INTERNATIONAL BREWERIES PLC |
| AXAMANSARD INSURANCE vs. CHAMPION BREWERIES PLC | AXAMANSARD INSURANCE vs. ABBEY MORTGAGE BANK | AXAMANSARD INSURANCE vs. CUSTODIAN INVESTMENT PLC | AXAMANSARD INSURANCE vs. INTERNATIONAL ENERGY INSURANCE |
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 Economic Indicators module to top statistical indicators that provide insights into how an economy is performing.
Other Complementary Tools
| Price Transformation Use Price Transformation models to analyze the depth of different equity instruments across global markets | |
| Investing Opportunities Build portfolios using our predefined set of ideas and optimize them against your investing preferences | |
| Competition Analyzer Analyze and compare many basic indicators for a group of related or unrelated entities | |
| Watchlist Optimization Optimize watchlists to build efficient portfolios or rebalance existing positions based on the mean-variance optimization algorithm | |
| Top Crypto Exchanges Search and analyze digital assets across top global cryptocurrency exchanges |