Correlation Between CORNERSTONE INSURANCE and STACO INSURANCE
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By analyzing existing cross correlation between CORNERSTONE INSURANCE PLC and STACO INSURANCE PLC, you can compare the effects of market volatilities on CORNERSTONE INSURANCE and STACO INSURANCE 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 STACO INSURANCE. Check out your portfolio center. Please also check ongoing floating volatility patterns of CORNERSTONE INSURANCE and STACO INSURANCE.
Diversification Opportunities for CORNERSTONE INSURANCE and STACO INSURANCE
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between CORNERSTONE and STACO is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding CORNERSTONE INSURANCE PLC and STACO INSURANCE PLC in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on STACO INSURANCE 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 STACO INSURANCE. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of STACO INSURANCE PLC has no effect on the direction of CORNERSTONE INSURANCE i.e., CORNERSTONE INSURANCE and STACO INSURANCE go up and down completely randomly.
Pair Corralation between CORNERSTONE INSURANCE and STACO INSURANCE
If you would invest 68.00 in CORNERSTONE INSURANCE PLC on December 12, 2024 and sell it today you would earn a total of 251.00 from holding CORNERSTONE INSURANCE PLC or generate 369.12% 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. STACO INSURANCE PLC
Performance |
| Timeline |
| CORNERSTONE INSURANCE PLC |
| STACO INSURANCE PLC |
CORNERSTONE INSURANCE and STACO INSURANCE Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with CORNERSTONE INSURANCE and STACO INSURANCE
The main advantage of trading using opposite CORNERSTONE INSURANCE and STACO INSURANCE positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if CORNERSTONE INSURANCE position performs unexpectedly, STACO INSURANCE 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 STACO INSURANCE will offset losses from the drop in STACO INSURANCE's long position.| CORNERSTONE INSURANCE vs. UNITED BANK FOR | ||
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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 Content Syndication module to quickly integrate customizable finance content to your own investment portal.
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