Correlation Between JAIZ BANK and STANDARD ALLIANCE
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By analyzing existing cross correlation between JAIZ BANK PLC and STANDARD ALLIANCE INSURANCE, you can compare the effects of market volatilities on JAIZ BANK and STANDARD ALLIANCE 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 JAIZ BANK with a short position of STANDARD ALLIANCE. Check out your portfolio center. Please also check ongoing floating volatility patterns of JAIZ BANK and STANDARD ALLIANCE.
Diversification Opportunities for JAIZ BANK and STANDARD ALLIANCE
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between JAIZ and STANDARD is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding JAIZ BANK PLC and STANDARD ALLIANCE INSURANCE in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on STANDARD ALLIANCE and JAIZ BANK 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 JAIZ BANK PLC are associated (or correlated) with STANDARD ALLIANCE. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of STANDARD ALLIANCE has no effect on the direction of JAIZ BANK i.e., JAIZ BANK and STANDARD ALLIANCE go up and down completely randomly.
Pair Corralation between JAIZ BANK and STANDARD ALLIANCE
If you would invest 83.00 in JAIZ BANK PLC on September 12, 2024 and sell it today you would earn a total of 157.00 from holding JAIZ BANK PLC or generate 189.16% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
JAIZ BANK PLC vs. STANDARD ALLIANCE INSURANCE
Performance |
| Timeline |
| JAIZ BANK PLC |
| STANDARD ALLIANCE |
JAIZ BANK and STANDARD ALLIANCE Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with JAIZ BANK and STANDARD ALLIANCE
The main advantage of trading using opposite JAIZ BANK and STANDARD ALLIANCE positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if JAIZ BANK position performs unexpectedly, STANDARD ALLIANCE 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 STANDARD ALLIANCE will offset losses from the drop in STANDARD ALLIANCE's long position.| JAIZ BANK vs. GUINEA INSURANCE PLC | JAIZ BANK vs. SECURE ELECTRONIC TECHNOLOGY | JAIZ BANK vs. VFD GROUP | JAIZ BANK vs. IKEJA HOTELS PLC |
| STANDARD ALLIANCE vs. ECOBANK TRANSNATIONAL INCORPORATED | STANDARD ALLIANCE vs. JAIZ BANK PLC | STANDARD ALLIANCE vs. CONSOLIDATED HALLMARK INSURANCE | STANDARD ALLIANCE vs. FIDELITY BANK 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 ETF Categories module to list of ETF categories grouped based on various criteria, such as the investment strategy or type of investments.
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