Correlation Between GOLDLINK INSURANCE and STERLING FINANCIAL
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By analyzing existing cross correlation between GOLDLINK INSURANCE PLC and STERLING FINANCIAL HOLDINGS, you can compare the effects of market volatilities on GOLDLINK INSURANCE and STERLING FINANCIAL 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 STERLING FINANCIAL. Check out your portfolio center. Please also check ongoing floating volatility patterns of GOLDLINK INSURANCE and STERLING FINANCIAL.
Diversification Opportunities for GOLDLINK INSURANCE and STERLING FINANCIAL
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between GOLDLINK and STERLING is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding GOLDLINK INSURANCE PLC and STERLING FINANCIAL HOLDINGS in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on STERLING FINANCIAL 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 STERLING FINANCIAL. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of STERLING FINANCIAL has no effect on the direction of GOLDLINK INSURANCE i.e., GOLDLINK INSURANCE and STERLING FINANCIAL go up and down completely randomly.
Pair Corralation between GOLDLINK INSURANCE and STERLING FINANCIAL
If you would invest 150.00 in STERLING FINANCIAL HOLDINGS on September 3, 2024 and sell it today you would earn a total of 338.00 from holding STERLING FINANCIAL HOLDINGS or generate 225.33% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 83.57% |
| Values | Daily Returns |
GOLDLINK INSURANCE PLC vs. STERLING FINANCIAL HOLDINGS
Performance |
| Timeline |
| GOLDLINK INSURANCE PLC |
| STERLING FINANCIAL |
GOLDLINK INSURANCE and STERLING FINANCIAL Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with GOLDLINK INSURANCE and STERLING FINANCIAL
The main advantage of trading using opposite GOLDLINK INSURANCE and STERLING FINANCIAL positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if GOLDLINK INSURANCE position performs unexpectedly, STERLING FINANCIAL 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 STERLING FINANCIAL will offset losses from the drop in STERLING FINANCIAL's long position.| GOLDLINK INSURANCE vs. STACO INSURANCE PLC | GOLDLINK INSURANCE vs. CORNERSTONE INSURANCE PLC | GOLDLINK INSURANCE vs. UNIVERSAL INSURANCE PANY | GOLDLINK INSURANCE vs. AFRICAN ALLIANCE INSURANCE |
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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 Theme Ratings module to determine theme ratings based on digital equity recommendations. Macroaxis theme ratings are based on combination of fundamental analysis and risk-adjusted market performance.
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