Correlation Between INTERNATIONAL BREWERIES and CONSOLIDATED HALLMARK
Specify exactly 2 symbols:
By analyzing existing cross correlation between INTERNATIONAL BREWERIES PLC and CONSOLIDATED HALLMARK INSURANCE, you can compare the effects of market volatilities on INTERNATIONAL BREWERIES and CONSOLIDATED HALLMARK 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 INTERNATIONAL BREWERIES with a short position of CONSOLIDATED HALLMARK. Check out your portfolio center. Please also check ongoing floating volatility patterns of INTERNATIONAL BREWERIES and CONSOLIDATED HALLMARK.
Diversification Opportunities for INTERNATIONAL BREWERIES and CONSOLIDATED HALLMARK
-0.45 | Correlation Coefficient |
Very good diversification
The 3 months correlation between INTERNATIONAL and CONSOLIDATED is -0.45. Overlapping area represents the amount of risk that can be diversified away by holding INTERNATIONAL BREWERIES PLC and CONSOLIDATED HALLMARK INSURANC in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on CONSOLIDATED HALLMARK and INTERNATIONAL BREWERIES 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 INTERNATIONAL BREWERIES PLC are associated (or correlated) with CONSOLIDATED HALLMARK. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of CONSOLIDATED HALLMARK has no effect on the direction of INTERNATIONAL BREWERIES i.e., INTERNATIONAL BREWERIES and CONSOLIDATED HALLMARK go up and down completely randomly.
Pair Corralation between INTERNATIONAL BREWERIES and CONSOLIDATED HALLMARK
Assuming the 90 days trading horizon INTERNATIONAL BREWERIES is expected to generate 1800.43 times less return on investment than CONSOLIDATED HALLMARK. But when comparing it to its historical volatility, INTERNATIONAL BREWERIES PLC is 12.0 times less risky than CONSOLIDATED HALLMARK. It trades about 0.0 of its potential returns per unit of risk. CONSOLIDATED HALLMARK INSURANCE is currently generating about 0.27 of returns per unit of risk over similar time horizon. If you would invest 152.00 in CONSOLIDATED HALLMARK INSURANCE on August 31, 2024 and sell it today you would earn a total of 44.00 from holding CONSOLIDATED HALLMARK INSURANCE or generate 28.95% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
INTERNATIONAL BREWERIES PLC vs. CONSOLIDATED HALLMARK INSURANC
Performance |
| Timeline |
| INTERNATIONAL BREWERIES |
| CONSOLIDATED HALLMARK |
INTERNATIONAL BREWERIES and CONSOLIDATED HALLMARK Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with INTERNATIONAL BREWERIES and CONSOLIDATED HALLMARK
The main advantage of trading using opposite INTERNATIONAL BREWERIES and CONSOLIDATED HALLMARK positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if INTERNATIONAL BREWERIES position performs unexpectedly, CONSOLIDATED HALLMARK 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 CONSOLIDATED HALLMARK will offset losses from the drop in CONSOLIDATED HALLMARK's long position.| INTERNATIONAL BREWERIES vs. JAIZ BANK PLC | INTERNATIONAL BREWERIES vs. GOLDLINK INSURANCE PLC | INTERNATIONAL BREWERIES vs. STACO INSURANCE PLC | INTERNATIONAL BREWERIES vs. STERLING FINANCIAL HOLDINGS |
| CONSOLIDATED HALLMARK vs. SECURE ELECTRONIC TECHNOLOGY | CONSOLIDATED HALLMARK vs. VFD GROUP | CONSOLIDATED HALLMARK vs. AFROMEDIA PLC | CONSOLIDATED HALLMARK vs. DEAP CAPITAL MANAGEMENT |
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 Alpha Finder module to use alpha and beta coefficients to find investment opportunities after accounting for the risk.
Other Complementary Tools
| AI Portfolio Architect Use AI to generate optimal portfolios and find profitable investment opportunities | |
| Pair Correlation Compare performance and examine fundamental relationship between any two equity instruments | |
| Bond Analysis Evaluate and analyze corporate bonds as a potential investment for your portfolios. | |
| Portfolio Suggestion Get suggestions outside of your existing asset allocation including your own model portfolios | |
| Sectors List of equity sectors categorizing publicly traded companies based on their primary business activities |