Correlation Between CONSOLIDATED HALLMARK and AFRICAN ALLIANCE
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By analyzing existing cross correlation between CONSOLIDATED HALLMARK INSURANCE and AFRICAN ALLIANCE INSURANCE, you can compare the effects of market volatilities on CONSOLIDATED HALLMARK 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 CONSOLIDATED HALLMARK with a short position of AFRICAN ALLIANCE. Check out your portfolio center. Please also check ongoing floating volatility patterns of CONSOLIDATED HALLMARK and AFRICAN ALLIANCE.
Diversification Opportunities for CONSOLIDATED HALLMARK and AFRICAN ALLIANCE
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between CONSOLIDATED and AFRICAN is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding CONSOLIDATED HALLMARK INSURANC 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 CONSOLIDATED HALLMARK 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 CONSOLIDATED HALLMARK INSURANCE 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 CONSOLIDATED HALLMARK i.e., CONSOLIDATED HALLMARK and AFRICAN ALLIANCE go up and down completely randomly.
Pair Corralation between CONSOLIDATED HALLMARK and AFRICAN ALLIANCE
If you would invest 137.00 in CONSOLIDATED HALLMARK INSURANCE on September 3, 2024 and sell it today you would earn a total of 63.00 from holding CONSOLIDATED HALLMARK INSURANCE or generate 45.99% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
CONSOLIDATED HALLMARK INSURANC vs. AFRICAN ALLIANCE INSURANCE
Performance |
| Timeline |
| CONSOLIDATED HALLMARK |
| AFRICAN ALLIANCE INS |
CONSOLIDATED HALLMARK and AFRICAN ALLIANCE Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with CONSOLIDATED HALLMARK and AFRICAN ALLIANCE
The main advantage of trading using opposite CONSOLIDATED HALLMARK and AFRICAN ALLIANCE positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if CONSOLIDATED HALLMARK 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.| CONSOLIDATED HALLMARK vs. IKEJA HOTELS PLC | CONSOLIDATED HALLMARK vs. STANDARD ALLIANCE INSURANCE | CONSOLIDATED HALLMARK vs. FIDSON HEALTHCARE PLC | CONSOLIDATED HALLMARK vs. INTERNATIONAL ENERGY INSURANCE |
| 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 Efficient Frontier module to plot and analyze your portfolio and positions against risk-return landscape of the market..
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