Correlation Between Community Investors and U I
Can any of the company-specific risk be diversified away by investing in both Community Investors and U I 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 Community Investors and U I into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Community Investors Bancorp and U I Financial, you can compare the effects of market volatilities on Community Investors and U I 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 Community Investors with a short position of U I. Check out your portfolio center. Please also check ongoing floating volatility patterns of Community Investors and U I.
Diversification Opportunities for Community Investors and U I
0.15 | Correlation Coefficient |
Average diversification
The 3 months correlation between Community and UNIF is 0.15. Overlapping area represents the amount of risk that can be diversified away by holding Community Investors Bancorp and U I Financial in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on U I Financial and Community Investors 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 Community Investors Bancorp are associated (or correlated) with U I. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of U I Financial has no effect on the direction of Community Investors i.e., Community Investors and U I go up and down completely randomly.
Pair Corralation between Community Investors and U I
If you would invest 1,700 in Community Investors Bancorp on August 28, 2024 and sell it today you would earn a total of 0.00 from holding Community Investors Bancorp or generate 0.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 4.76% |
| Values | Daily Returns |
Community Investors Bancorp vs. U I Financial
Performance |
| Timeline |
| Community Investors |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
| U I Financial |
Community Investors and U I Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Community Investors and U I
The main advantage of trading using opposite Community Investors and U I positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Community Investors position performs unexpectedly, U I 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 U I will offset losses from the drop in U I's long position.| Community Investors vs. CIB Marine Bancshares | Community Investors vs. United Bancorporation of | Community Investors vs. U I Financial | Community Investors vs. CoastalSouth Bancshares |
| U I vs. CIB Marine Bancshares | U I vs. Heartland Banccorp | U I vs. United Bancorporation of | U I vs. Harbor Bankshares |
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 Piotroski F Score module to get Piotroski F Score based on the binary analysis strategy of nine different fundamentals.
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