Correlation Between FG Annuities and Four Leaf
Can any of the company-specific risk be diversified away by investing in both FG Annuities and Four Leaf 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 FG Annuities and Four Leaf into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between FG Annuities Life and Four Leaf Acquisition, you can compare the effects of market volatilities on FG Annuities and Four Leaf 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 FG Annuities with a short position of Four Leaf. Check out your portfolio center. Please also check ongoing floating volatility patterns of FG Annuities and Four Leaf.
Diversification Opportunities for FG Annuities and Four Leaf
-0.34 | Correlation Coefficient |
Very good diversification
The 3 months correlation between FG Annuities and Four is -0.34. Overlapping area represents the amount of risk that can be diversified away by holding FG Annuities Life and Four Leaf Acquisition in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Four Leaf Acquisition and FG Annuities 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 FG Annuities Life are associated (or correlated) with Four Leaf. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Four Leaf Acquisition has no effect on the direction of FG Annuities i.e., FG Annuities and Four Leaf go up and down completely randomly.
Pair Corralation between FG Annuities and Four Leaf
If you would invest 4,239 in FG Annuities Life on November 4, 2024 and sell it today you would earn a total of 352.00 from holding FG Annuities Life or generate 8.3% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
FG Annuities Life vs. Four Leaf Acquisition
Performance |
| Timeline |
| FG Annuities Life |
| Four Leaf Acquisition |
FG Annuities and Four Leaf Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with FG Annuities and Four Leaf
The main advantage of trading using opposite FG Annuities and Four Leaf positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if FG Annuities position performs unexpectedly, Four Leaf 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 Four Leaf will offset losses from the drop in Four Leaf's long position.| FG Annuities vs. Prudential Financial | FG Annuities vs. Lincoln National | FG Annuities vs. Aflac Incorporated | FG Annuities vs. Unum Group |
| Four Leaf vs. Energold Drilling Corp | Four Leaf vs. Noble plc | Four Leaf vs. Amkor Technology | Four Leaf vs. Transocean |
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.
Other Complementary Tools
| Bollinger Bands Use Bollinger Bands indicator to analyze target price for a given investing horizon | |
| Analyst Advice Analyst recommendations and target price estimates broken down by several categories | |
| Theme Ratings Determine theme ratings based on digital equity recommendations. Macroaxis theme ratings are based on combination of fundamental analysis and risk-adjusted market performance | |
| Volatility Analysis Get historical volatility and risk analysis based on latest market data | |
| Aroon Oscillator Analyze current equity momentum using Aroon Oscillator and other momentum ratios |