Correlation Between Equitable Holdings and Ageas SANV
Can any of the company-specific risk be diversified away by investing in both Equitable Holdings and Ageas SANV at the same time? Although using a correlation coefficient on its own may not help to predict future stock returns, this module helps to understand the diversifiable risk of combining Equitable Holdings and Ageas SANV into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Equitable Holdings and ageas SANV, you can compare the effects of market volatilities on Equitable Holdings and Ageas SANV 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 Equitable Holdings with a short position of Ageas SANV. Check out your portfolio center. Please also check ongoing floating volatility patterns of Equitable Holdings and Ageas SANV.
Diversification Opportunities for Equitable Holdings and Ageas SANV
-0.62 | Correlation Coefficient |
Excellent diversification
The 3 months correlation between Equitable and Ageas is -0.62. Overlapping area represents the amount of risk that can be diversified away by holding Equitable Holdings and ageas SANV in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on ageas SANV and Equitable Holdings 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 Equitable Holdings are associated (or correlated) with Ageas SANV. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of ageas SANV has no effect on the direction of Equitable Holdings i.e., Equitable Holdings and Ageas SANV go up and down completely randomly.
Pair Corralation between Equitable Holdings and Ageas SANV
Assuming the 90 days trading horizon Equitable Holdings is expected to under-perform the Ageas SANV. But the preferred stock apears to be less risky and, when comparing its historical volatility, Equitable Holdings is 2.15 times less risky than Ageas SANV. The preferred stock trades about -0.14 of its potential returns per unit of risk. The ageas SANV is currently generating about 0.15 of returns per unit of risk over similar time horizon. If you would invest 5,065 in ageas SANV on January 17, 2025 and sell it today you would earn a total of 962.00 from holding ageas SANV or generate 18.99% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Equitable Holdings vs. ageas SANV
Performance |
| Timeline |
| Equitable Holdings |
| ageas SANV |
Equitable Holdings and Ageas SANV Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Equitable Holdings and Ageas SANV
The main advantage of trading using opposite Equitable Holdings and Ageas SANV positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Equitable Holdings position performs unexpectedly, Ageas SANV 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 Ageas SANV will offset losses from the drop in Ageas SANV's long position.| Equitable Holdings vs. Equitable Holdings | Equitable Holdings vs. Athene Holding | Equitable Holdings vs. MetLife Preferred Stock | Equitable Holdings vs. Bank of America |
| Ageas SANV vs. Assicurazioni Generali SpA | Ageas SANV vs. AXA SA | Ageas SANV vs. Sampo OYJ | Ageas SANV vs. Zurich Insurance Group |
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 Commodity Channel module to use Commodity Channel Index to analyze current equity momentum.
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