Correlation Between ECOBANK TRANSNATIONAL and STANDARD ALLIANCE
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By analyzing existing cross correlation between ECOBANK TRANSNATIONAL INCORPORATED and STANDARD ALLIANCE INSURANCE, you can compare the effects of market volatilities on ECOBANK TRANSNATIONAL and STANDARD ALLIANCE 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 ECOBANK TRANSNATIONAL with a short position of STANDARD ALLIANCE. Check out your portfolio center. Please also check ongoing floating volatility patterns of ECOBANK TRANSNATIONAL and STANDARD ALLIANCE.
Diversification Opportunities for ECOBANK TRANSNATIONAL and STANDARD ALLIANCE
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between ECOBANK and STANDARD is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding ECOBANK TRANSNATIONAL INCORPOR and STANDARD ALLIANCE INSURANCE in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on STANDARD ALLIANCE and ECOBANK TRANSNATIONAL 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 ECOBANK TRANSNATIONAL INCORPORATED are associated (or correlated) with STANDARD ALLIANCE. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of STANDARD ALLIANCE has no effect on the direction of ECOBANK TRANSNATIONAL i.e., ECOBANK TRANSNATIONAL and STANDARD ALLIANCE go up and down completely randomly.
Pair Corralation between ECOBANK TRANSNATIONAL and STANDARD ALLIANCE
If you would invest 1,100 in ECOBANK TRANSNATIONAL INCORPORATED on September 12, 2024 and sell it today you would earn a total of 1,450 from holding ECOBANK TRANSNATIONAL INCORPORATED or generate 131.82% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
ECOBANK TRANSNATIONAL INCORPOR vs. STANDARD ALLIANCE INSURANCE
Performance |
| Timeline |
| ECOBANK TRANSNATIONAL |
| STANDARD ALLIANCE |
ECOBANK TRANSNATIONAL and STANDARD ALLIANCE Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with ECOBANK TRANSNATIONAL and STANDARD ALLIANCE
The main advantage of trading using opposite ECOBANK TRANSNATIONAL and STANDARD ALLIANCE positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if ECOBANK TRANSNATIONAL position performs unexpectedly, STANDARD ALLIANCE 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 STANDARD ALLIANCE will offset losses from the drop in STANDARD ALLIANCE's long position.| ECOBANK TRANSNATIONAL vs. GUINEA INSURANCE PLC | ECOBANK TRANSNATIONAL vs. SECURE ELECTRONIC TECHNOLOGY | ECOBANK TRANSNATIONAL vs. VFD GROUP | ECOBANK TRANSNATIONAL vs. IKEJA HOTELS PLC |
| STANDARD ALLIANCE vs. ECOBANK TRANSNATIONAL INCORPORATED | STANDARD ALLIANCE vs. JAIZ BANK PLC | STANDARD ALLIANCE vs. CONSOLIDATED HALLMARK INSURANCE | STANDARD ALLIANCE vs. FIDELITY BANK 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 Pair Correlation module to compare performance and examine fundamental relationship between any two equity instruments.
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