Correlation Between GUINEA INSURANCE and SFS REAL
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By analyzing existing cross correlation between GUINEA INSURANCE PLC and SFS REAL ESTATE, you can compare the effects of market volatilities on GUINEA INSURANCE and SFS REAL 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 GUINEA INSURANCE with a short position of SFS REAL. Check out your portfolio center. Please also check ongoing floating volatility patterns of GUINEA INSURANCE and SFS REAL.
Diversification Opportunities for GUINEA INSURANCE and SFS REAL
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between GUINEA and SFS is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding GUINEA INSURANCE PLC and SFS REAL ESTATE in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on SFS REAL ESTATE and GUINEA 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 GUINEA INSURANCE PLC are associated (or correlated) with SFS REAL. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of SFS REAL ESTATE has no effect on the direction of GUINEA INSURANCE i.e., GUINEA INSURANCE and SFS REAL go up and down completely randomly.
Pair Corralation between GUINEA INSURANCE and SFS REAL
If you would invest 51.00 in GUINEA INSURANCE PLC on October 1, 2024 and sell it today you would earn a total of 17.00 from holding GUINEA INSURANCE PLC or generate 33.33% return on investment over 90 days.
Time Period | 3 Months [change] |
Direction | Flat |
Strength | Insignificant |
Accuracy | 100.0% |
Values | Daily Returns |
GUINEA INSURANCE PLC vs. SFS REAL ESTATE
Performance |
Timeline |
GUINEA INSURANCE PLC |
SFS REAL ESTATE |
GUINEA INSURANCE and SFS REAL Volatility Contrast
Predicted Return Density |
Returns |
Pair Trading with GUINEA INSURANCE and SFS REAL
The main advantage of trading using opposite GUINEA INSURANCE and SFS REAL positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if GUINEA INSURANCE position performs unexpectedly, SFS REAL 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 SFS REAL will offset losses from the drop in SFS REAL's long position.GUINEA INSURANCE vs. ZENITH BANK PLC | ||
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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 ETFs module to find actively traded Exchange Traded Funds (ETF) from around the world.
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