Correlation Between C I and CONSOLIDATED HALLMARK
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By analyzing existing cross correlation between C I LEASING and CONSOLIDATED HALLMARK INSURANCE, you can compare the effects of market volatilities on C I and CONSOLIDATED HALLMARK 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 CONSOLIDATED HALLMARK. Check out your portfolio center. Please also check ongoing floating volatility patterns of C I and CONSOLIDATED HALLMARK.
Diversification Opportunities for C I and CONSOLIDATED HALLMARK
0.19 | Correlation Coefficient |
Average diversification
The 3 months correlation between CILEASING and CONSOLIDATED is 0.19. Overlapping area represents the amount of risk that can be diversified away by holding C I LEASING and CONSOLIDATED HALLMARK INSURANC in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on CONSOLIDATED HALLMARK 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 CONSOLIDATED HALLMARK. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of CONSOLIDATED HALLMARK has no effect on the direction of C I i.e., C I and CONSOLIDATED HALLMARK go up and down completely randomly.
Pair Corralation between C I and CONSOLIDATED HALLMARK
Assuming the 90 days trading horizon C I LEASING is expected to under-perform the CONSOLIDATED HALLMARK. But the stock apears to be less risky and, when comparing its historical volatility, C I LEASING is 1.88 times less risky than CONSOLIDATED HALLMARK. The stock trades about -0.05 of its potential returns per unit of risk. The CONSOLIDATED HALLMARK INSURANCE is currently generating about 0.19 of returns per unit of risk over similar time horizon. If you would invest 315.00 in CONSOLIDATED HALLMARK INSURANCE on November 28, 2024 and sell it today you would earn a total of 73.00 from holding CONSOLIDATED HALLMARK INSURANCE or generate 23.17% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 95.65% |
| Values | Daily Returns |
C I LEASING vs. CONSOLIDATED HALLMARK INSURANC
Performance |
| Timeline |
| C I LEASING |
| CONSOLIDATED HALLMARK |
C I and CONSOLIDATED HALLMARK Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with C I and CONSOLIDATED HALLMARK
The main advantage of trading using opposite C I and CONSOLIDATED HALLMARK positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if C I position performs unexpectedly, CONSOLIDATED HALLMARK 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 CONSOLIDATED HALLMARK will offset losses from the drop in CONSOLIDATED HALLMARK's long position.| C I vs. DEAP CAPITAL MANAGEMENT | C I vs. INTERNATIONAL BREWERIES PLC | C I vs. DN TYRE RUBBER | C I vs. ASO SAVINGS AND |
| CONSOLIDATED HALLMARK vs. ZENITH BANK PLC | CONSOLIDATED HALLMARK vs. GOLDLINK INSURANCE PLC | CONSOLIDATED HALLMARK vs. STANDARD ALLIANCE INSURANCE | CONSOLIDATED HALLMARK vs. AXAMANSARD INSURANCE 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 Commodity Channel module to use Commodity Channel Index to analyze current equity momentum.
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