Correlation Between CONSOLIDATED HALLMARK and SECURE ELECTRONIC
Specify exactly 2 symbols:
By analyzing existing cross correlation between CONSOLIDATED HALLMARK INSURANCE and SECURE ELECTRONIC TECHNOLOGY, you can compare the effects of market volatilities on CONSOLIDATED HALLMARK and SECURE ELECTRONIC 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 SECURE ELECTRONIC. Check out your portfolio center. Please also check ongoing floating volatility patterns of CONSOLIDATED HALLMARK and SECURE ELECTRONIC.
Diversification Opportunities for CONSOLIDATED HALLMARK and SECURE ELECTRONIC
0.58 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between CONSOLIDATED and SECURE is 0.58. Overlapping area represents the amount of risk that can be diversified away by holding CONSOLIDATED HALLMARK INSURANC and SECURE ELECTRONIC TECHNOLOGY in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on SECURE ELECTRONIC 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 SECURE ELECTRONIC. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of SECURE ELECTRONIC has no effect on the direction of CONSOLIDATED HALLMARK i.e., CONSOLIDATED HALLMARK and SECURE ELECTRONIC go up and down completely randomly.
Pair Corralation between CONSOLIDATED HALLMARK and SECURE ELECTRONIC
Assuming the 90 days trading horizon CONSOLIDATED HALLMARK INSURANCE is expected to generate 1.52 times more return on investment than SECURE ELECTRONIC. However, CONSOLIDATED HALLMARK is 1.52 times more volatile than SECURE ELECTRONIC TECHNOLOGY. It trades about 0.24 of its potential returns per unit of risk. SECURE ELECTRONIC TECHNOLOGY is currently generating about -0.13 per unit of risk. If you would invest 300.00 in CONSOLIDATED HALLMARK INSURANCE on November 29, 2024 and sell it today you would earn a total of 90.00 from holding CONSOLIDATED HALLMARK INSURANCE or generate 30.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
CONSOLIDATED HALLMARK INSURANC vs. SECURE ELECTRONIC TECHNOLOGY
Performance |
| Timeline |
| CONSOLIDATED HALLMARK |
| SECURE ELECTRONIC |
CONSOLIDATED HALLMARK and SECURE ELECTRONIC Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with CONSOLIDATED HALLMARK and SECURE ELECTRONIC
The main advantage of trading using opposite CONSOLIDATED HALLMARK and SECURE ELECTRONIC positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if CONSOLIDATED HALLMARK position performs unexpectedly, SECURE ELECTRONIC 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 SECURE ELECTRONIC will offset losses from the drop in SECURE ELECTRONIC's long position.| CONSOLIDATED HALLMARK vs. ZENITH BANK PLC | CONSOLIDATED HALLMARK vs. GOLDLINK INSURANCE PLC | CONSOLIDATED HALLMARK vs. STANDARD ALLIANCE INSURANCE | CONSOLIDATED HALLMARK vs. AXAMANSARD INSURANCE PLC |
| SECURE ELECTRONIC vs. MULTI TREX INTEGRATED FOODS | SECURE ELECTRONIC vs. AFROMEDIA PLC | SECURE ELECTRONIC vs. AIICO INSURANCE PLC | SECURE ELECTRONIC vs. NEM 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 Anywhere module to track or share privately all of your investments from the convenience of any device.
Other Complementary Tools
| Portfolio Optimization Compute new portfolio that will generate highest expected return given your specified tolerance for risk | |
| Positions Ratings Determine portfolio positions ratings based on digital equity recommendations. Macroaxis instant position ratings are based on combination of fundamental analysis and risk-adjusted market performance | |
| Share Portfolio Track or share privately all of your investments from the convenience of any device | |
| Top Crypto Exchanges Search and analyze digital assets across top global cryptocurrency exchanges | |
| Money Flow Index Determine momentum by analyzing Money Flow Index and other technical indicators |