Correlation Between GOLDLINK INSURANCE and ECOBANK TRANSNATIONAL
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By analyzing existing cross correlation between GOLDLINK INSURANCE PLC and ECOBANK TRANSNATIONAL INCORPORATED, you can compare the effects of market volatilities on GOLDLINK INSURANCE and ECOBANK TRANSNATIONAL 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 GOLDLINK INSURANCE with a short position of ECOBANK TRANSNATIONAL. Check out your portfolio center. Please also check ongoing floating volatility patterns of GOLDLINK INSURANCE and ECOBANK TRANSNATIONAL.
Diversification Opportunities for GOLDLINK INSURANCE and ECOBANK TRANSNATIONAL
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between GOLDLINK and ECOBANK is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding GOLDLINK INSURANCE PLC and ECOBANK TRANSNATIONAL INCORPOR in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on ECOBANK TRANSNATIONAL and GOLDLINK 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 GOLDLINK INSURANCE PLC are associated (or correlated) with ECOBANK TRANSNATIONAL. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of ECOBANK TRANSNATIONAL has no effect on the direction of GOLDLINK INSURANCE i.e., GOLDLINK INSURANCE and ECOBANK TRANSNATIONAL go up and down completely randomly.
Pair Corralation between GOLDLINK INSURANCE and ECOBANK TRANSNATIONAL
If you would invest 2,600 in ECOBANK TRANSNATIONAL INCORPORATED on November 6, 2024 and sell it today you would earn a total of 440.00 from holding ECOBANK TRANSNATIONAL INCORPORATED or generate 16.92% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 98.36% |
| Values | Daily Returns |
GOLDLINK INSURANCE PLC vs. ECOBANK TRANSNATIONAL INCORPOR
Performance |
| Timeline |
| GOLDLINK INSURANCE PLC |
| ECOBANK TRANSNATIONAL |
GOLDLINK INSURANCE and ECOBANK TRANSNATIONAL Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with GOLDLINK INSURANCE and ECOBANK TRANSNATIONAL
The main advantage of trading using opposite GOLDLINK INSURANCE and ECOBANK TRANSNATIONAL positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if GOLDLINK INSURANCE position performs unexpectedly, ECOBANK TRANSNATIONAL 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 ECOBANK TRANSNATIONAL will offset losses from the drop in ECOBANK TRANSNATIONAL's long position.| GOLDLINK INSURANCE vs. LIVINGTRUST MORTGAGE BANK | GOLDLINK INSURANCE vs. INDUSTRIAL MEDICAL GASES | GOLDLINK INSURANCE vs. INTERNATIONAL BREWERIES PLC | GOLDLINK INSURANCE vs. TRANSCORP HOTELS PLC |
| ECOBANK TRANSNATIONAL vs. UNITED BANK FOR | ECOBANK TRANSNATIONAL vs. ZENITH BANK PLC | ECOBANK TRANSNATIONAL vs. CUSTODIAN INVESTMENT PLC | ECOBANK TRANSNATIONAL vs. STERLING FINANCIAL HOLDINGS |
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 Insider Screener module to find insiders across different sectors to evaluate their impact on performance.
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