Correlation Between C I and JOHN HOLT
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By analyzing existing cross correlation between C I LEASING and JOHN HOLT PLC, you can compare the effects of market volatilities on C I and JOHN HOLT 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 JOHN HOLT. Check out your portfolio center. Please also check ongoing floating volatility patterns of C I and JOHN HOLT.
Diversification Opportunities for C I and JOHN HOLT
Average diversification
The 3 months correlation between CILEASING and JOHN is 0.12. Overlapping area represents the amount of risk that can be diversified away by holding C I LEASING and JOHN HOLT PLC in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on JOHN HOLT PLC 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 JOHN HOLT. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of JOHN HOLT PLC has no effect on the direction of C I i.e., C I and JOHN HOLT go up and down completely randomly.
Pair Corralation between C I and JOHN HOLT
Assuming the 90 days trading horizon C I LEASING is expected to under-perform the JOHN HOLT. In addition to that, C I is 30.18 times more volatile than JOHN HOLT PLC. It trades about -0.05 of its total potential returns per unit of risk. JOHN HOLT PLC is currently generating about 0.32 per unit of volatility. If you would invest 750.00 in JOHN HOLT PLC on November 28, 2024 and sell it today you would earn a total of 4.00 from holding JOHN HOLT PLC or generate 0.53% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 69.57% |
| Values | Daily Returns |
C I LEASING vs. JOHN HOLT PLC
Performance |
| Timeline |
| C I LEASING |
| JOHN HOLT PLC |
Risk-Adjusted Performance
Very Weak
Weak | Strong |
C I and JOHN HOLT Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with C I and JOHN HOLT
The main advantage of trading using opposite C I and JOHN HOLT positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if C I position performs unexpectedly, JOHN HOLT 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 JOHN HOLT will offset losses from the drop in JOHN HOLT's long position.| C I vs. INDUSTRIAL MEDICAL GASES | C I vs. ECOBANK TRANSNATIONAL INCORPORATED | C I vs. ASO SAVINGS AND | C I vs. AXAMANSARD INSURANCE PLC |
| JOHN HOLT vs. CUSTODIAN INVESTMENT PLC | JOHN HOLT vs. FIDSON HEALTHCARE PLC | JOHN HOLT vs. NEM INSURANCE PLC | JOHN HOLT vs. INDUSTRIAL MEDICAL GASES |
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 Transaction History module to view history of all your transactions and understand their impact on performance.
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