Correlation Between CORNERSTONE INSURANCE and BUA FOODS
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By analyzing existing cross correlation between CORNERSTONE INSURANCE PLC and BUA FOODS PLC, you can compare the effects of market volatilities on CORNERSTONE INSURANCE and BUA FOODS 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 CORNERSTONE INSURANCE with a short position of BUA FOODS. Check out your portfolio center. Please also check ongoing floating volatility patterns of CORNERSTONE INSURANCE and BUA FOODS.
Diversification Opportunities for CORNERSTONE INSURANCE and BUA FOODS
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between CORNERSTONE and BUA is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding CORNERSTONE INSURANCE PLC and BUA FOODS PLC in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on BUA FOODS PLC and CORNERSTONE INSURANCE 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 CORNERSTONE INSURANCE PLC are associated (or correlated) with BUA FOODS. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of BUA FOODS PLC has no effect on the direction of CORNERSTONE INSURANCE i.e., CORNERSTONE INSURANCE and BUA FOODS go up and down completely randomly.
Pair Corralation between CORNERSTONE INSURANCE and BUA FOODS
If you would invest 244.00 in CORNERSTONE INSURANCE PLC on September 2, 2024 and sell it today you would earn a total of 12.00 from holding CORNERSTONE INSURANCE PLC or generate 4.92% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
CORNERSTONE INSURANCE PLC vs. BUA FOODS PLC
Performance |
| Timeline |
| CORNERSTONE INSURANCE PLC |
| BUA FOODS PLC |
CORNERSTONE INSURANCE and BUA FOODS Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with CORNERSTONE INSURANCE and BUA FOODS
The main advantage of trading using opposite CORNERSTONE INSURANCE and BUA FOODS positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if CORNERSTONE INSURANCE position performs unexpectedly, BUA FOODS 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 BUA FOODS will offset losses from the drop in BUA FOODS's long position.| CORNERSTONE INSURANCE vs. VFD GROUP | CORNERSTONE INSURANCE vs. DEAP CAPITAL MANAGEMENT | CORNERSTONE INSURANCE vs. VETIVA INDUSTRIAL ETF |
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 Global Markets Map module to get a quick overview of global market snapshot using zoomable world map. Drill down to check world indexes.
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