Correlation Between INTERNATIONAL ENERGY and C I
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By analyzing existing cross correlation between INTERNATIONAL ENERGY INSURANCE and C I LEASING, you can compare the effects of market volatilities on INTERNATIONAL ENERGY and C I 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 ENERGY with a short position of C I. Check out your portfolio center. Please also check ongoing floating volatility patterns of INTERNATIONAL ENERGY and C I.
Diversification Opportunities for INTERNATIONAL ENERGY and C I
0.63 | Correlation Coefficient |
Poor diversification
The 3 months correlation between INTERNATIONAL and CILEASING is 0.63. Overlapping area represents the amount of risk that can be diversified away by holding INTERNATIONAL ENERGY INSURANCE and C I LEASING in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on C I LEASING and INTERNATIONAL ENERGY 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 ENERGY INSURANCE are associated (or correlated) with C I. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of C I LEASING has no effect on the direction of INTERNATIONAL ENERGY i.e., INTERNATIONAL ENERGY and C I go up and down completely randomly.
Pair Corralation between INTERNATIONAL ENERGY and C I
Assuming the 90 days trading horizon INTERNATIONAL ENERGY INSURANCE is expected to generate 0.84 times more return on investment than C I. However, INTERNATIONAL ENERGY INSURANCE is 1.18 times less risky than C I. It trades about 0.05 of its potential returns per unit of risk. C I LEASING is currently generating about -0.13 per unit of risk. If you would invest 187.00 in INTERNATIONAL ENERGY INSURANCE on November 4, 2024 and sell it today you would earn a total of 6.00 from holding INTERNATIONAL ENERGY INSURANCE or generate 3.21% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Significant |
| Accuracy | 100.0% |
| Values | Daily Returns |
INTERNATIONAL ENERGY INSURANCE vs. C I LEASING
Performance |
| Timeline |
| INTERNATIONAL ENERGY |
| C I LEASING |
INTERNATIONAL ENERGY and C I Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with INTERNATIONAL ENERGY and C I
The main advantage of trading using opposite INTERNATIONAL ENERGY and C I positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if INTERNATIONAL ENERGY position performs unexpectedly, C I 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 C I will offset losses from the drop in C I's long position.| INTERNATIONAL ENERGY vs. FIDELITY BANK PLC | INTERNATIONAL ENERGY vs. AXAMANSARD INSURANCE PLC | INTERNATIONAL ENERGY vs. STANDARD ALLIANCE INSURANCE | INTERNATIONAL ENERGY vs. CORNERSTONE INSURANCE PLC |
| C I vs. TRANSCORP HOTELS PLC | C I vs. ECOBANK TRANSNATIONAL INCORPORATED | C I vs. JAIZ BANK PLC | C I vs. STACO INSURANCE PLC |
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 Content Syndication module to quickly integrate customizable finance content to your own investment portal.
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