Correlation Between CONSOLIDATED HALLMARK and JULIUS BERGER
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By analyzing existing cross correlation between CONSOLIDATED HALLMARK INSURANCE and JULIUS BERGER NIGERIA, you can compare the effects of market volatilities on CONSOLIDATED HALLMARK and JULIUS BERGER 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 JULIUS BERGER. Check out your portfolio center. Please also check ongoing floating volatility patterns of CONSOLIDATED HALLMARK and JULIUS BERGER.
Diversification Opportunities for CONSOLIDATED HALLMARK and JULIUS BERGER
0.28 | Correlation Coefficient |
Modest diversification
The 3 months correlation between CONSOLIDATED and JULIUS is 0.28. Overlapping area represents the amount of risk that can be diversified away by holding CONSOLIDATED HALLMARK INSURANC and JULIUS BERGER NIGERIA in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on JULIUS BERGER NIGERIA 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 JULIUS BERGER. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of JULIUS BERGER NIGERIA has no effect on the direction of CONSOLIDATED HALLMARK i.e., CONSOLIDATED HALLMARK and JULIUS BERGER go up and down completely randomly.
Pair Corralation between CONSOLIDATED HALLMARK and JULIUS BERGER
Assuming the 90 days trading horizon CONSOLIDATED HALLMARK is expected to generate 1.0 times less return on investment than JULIUS BERGER. In addition to that, CONSOLIDATED HALLMARK is 1.43 times more volatile than JULIUS BERGER NIGERIA. It trades about 0.09 of its total potential returns per unit of risk. JULIUS BERGER NIGERIA is currently generating about 0.13 per unit of volatility. If you would invest 9,800 in JULIUS BERGER NIGERIA on September 23, 2024 and sell it today you would earn a total of 5,725 from holding JULIUS BERGER NIGERIA or generate 58.42% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
CONSOLIDATED HALLMARK INSURANC vs. JULIUS BERGER NIGERIA
Performance |
| Timeline |
| CONSOLIDATED HALLMARK |
| JULIUS BERGER NIGERIA |
CONSOLIDATED HALLMARK and JULIUS BERGER Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with CONSOLIDATED HALLMARK and JULIUS BERGER
The main advantage of trading using opposite CONSOLIDATED HALLMARK and JULIUS BERGER positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if CONSOLIDATED HALLMARK position performs unexpectedly, JULIUS BERGER 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 JULIUS BERGER will offset losses from the drop in JULIUS BERGER's long position.| CONSOLIDATED HALLMARK vs. ZENITH BANK PLC | CONSOLIDATED HALLMARK vs. GUINEA INSURANCE PLC | CONSOLIDATED HALLMARK vs. SECURE ELECTRONIC TECHNOLOGY | CONSOLIDATED HALLMARK vs. SFS REAL ESTATE |
| JULIUS BERGER vs. NIGERIAN BREWERIES PLC | JULIUS BERGER vs. UNITY BANK PLC | JULIUS BERGER vs. BUA FOODS PLC | JULIUS BERGER vs. CONSOLIDATED HALLMARK INSURANCE |
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 Top Crypto Exchanges module to search and analyze digital assets across top global cryptocurrency exchanges.
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