Correlation Between CONSOLIDATED HALLMARK and C I
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By analyzing existing cross correlation between CONSOLIDATED HALLMARK INSURANCE and C I LEASING, you can compare the effects of market volatilities on CONSOLIDATED HALLMARK and C 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 CONSOLIDATED HALLMARK with a short position of C I. Check out your portfolio center. Please also check ongoing floating volatility patterns of CONSOLIDATED HALLMARK and C I.
Diversification Opportunities for CONSOLIDATED HALLMARK and C I
0.67 | Correlation Coefficient |
Poor diversification
The 3 months correlation between CONSOLIDATED and CILEASING is 0.67. Overlapping area represents the amount of risk that can be diversified away by holding CONSOLIDATED HALLMARK INSURANC and C I LEASING in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on C I LEASING 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 C I. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of C I LEASING has no effect on the direction of CONSOLIDATED HALLMARK i.e., CONSOLIDATED HALLMARK and C I go up and down completely randomly.
Pair Corralation between CONSOLIDATED HALLMARK and C I
Assuming the 90 days trading horizon CONSOLIDATED HALLMARK INSURANCE is expected to under-perform the C I. But the stock apears to be less risky and, when comparing its historical volatility, CONSOLIDATED HALLMARK INSURANCE is 1.24 times less risky than C I. The stock trades about -0.26 of its potential returns per unit of risk. The C I LEASING is currently generating about -0.13 of returns per unit of risk over similar time horizon. If you would invest 455.00 in C I LEASING on November 4, 2024 and sell it today you would lose (77.00) from holding C I LEASING or give up 16.92% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Significant |
| Accuracy | 100.0% |
| Values | Daily Returns |
CONSOLIDATED HALLMARK INSURANC vs. C I LEASING
Performance |
| Timeline |
| CONSOLIDATED HALLMARK |
| C I LEASING |
CONSOLIDATED HALLMARK and C I Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with CONSOLIDATED HALLMARK and C I
The main advantage of trading using opposite CONSOLIDATED HALLMARK and C I positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if CONSOLIDATED HALLMARK position performs unexpectedly, C 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 C I will offset losses from the drop in C I's long position.| CONSOLIDATED HALLMARK vs. AIICO INSURANCE PLC | CONSOLIDATED HALLMARK vs. CUSTODIAN INVESTMENT PLC | CONSOLIDATED HALLMARK vs. GOLDLINK INSURANCE PLC | CONSOLIDATED HALLMARK vs. DN TYRE RUBBER |
| C I vs. TRANSCORP HOTELS PLC | C I vs. ECOBANK TRANSNATIONAL INCORPORATED | C I vs. JAIZ BANK PLC | C I vs. STACO 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 Portfolio Manager module to state of the art Portfolio Manager to monitor and improve performance of your invested capital.
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