Correlation Between C I and AFRICAN ALLIANCE
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By analyzing existing cross correlation between C I LEASING and AFRICAN ALLIANCE INSURANCE, you can compare the effects of market volatilities on C I and AFRICAN ALLIANCE 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 C I with a short position of AFRICAN ALLIANCE. Check out your portfolio center. Please also check ongoing floating volatility patterns of C I and AFRICAN ALLIANCE.
Diversification Opportunities for C I and AFRICAN ALLIANCE
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between CILEASING and AFRICAN is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding C I LEASING and AFRICAN ALLIANCE INSURANCE in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on AFRICAN ALLIANCE INS and C I 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 C I LEASING are associated (or correlated) with AFRICAN ALLIANCE. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of AFRICAN ALLIANCE INS has no effect on the direction of C I i.e., C I and AFRICAN ALLIANCE go up and down completely randomly.
Pair Corralation between C I and AFRICAN ALLIANCE
If you would invest 407.00 in C I LEASING on September 3, 2024 and sell it today you would lose (8.00) from holding C I LEASING or give up 1.97% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
C I LEASING vs. AFRICAN ALLIANCE INSURANCE
Performance |
| Timeline |
| C I LEASING |
| AFRICAN ALLIANCE INS |
C I and AFRICAN ALLIANCE Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with C I and AFRICAN ALLIANCE
The main advantage of trading using opposite C I and AFRICAN ALLIANCE positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if C I position performs unexpectedly, AFRICAN ALLIANCE 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 AFRICAN ALLIANCE will offset losses from the drop in AFRICAN ALLIANCE's long position.| C I vs. AIICO INSURANCE PLC | C I vs. AFRICAN ALLIANCE INSURANCE | C I vs. DN TYRE RUBBER | C I vs. STACO INSURANCE PLC |
| AFRICAN ALLIANCE vs. STANDARD ALLIANCE INSURANCE | AFRICAN ALLIANCE vs. CUSTODIAN INVESTMENT PLC | AFRICAN ALLIANCE vs. SOVEREIGN TRUST INSURANCE | AFRICAN ALLIANCE vs. AFROMEDIA 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 Risk-Return Analysis module to view associations between returns expected from investment and the risk you assume.
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