Correlation Between Kinsale Capital and Icbs
Can any of the company-specific risk be diversified away by investing in both Kinsale Capital and Icbs at the same time? Although using a correlation coefficient on its own may not help to predict future stock returns, this module helps to understand the diversifiable risk of combining Kinsale Capital and Icbs into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Kinsale Capital Group and Icbs Ltd New, you can compare the effects of market volatilities on Kinsale Capital and Icbs 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 Kinsale Capital with a short position of Icbs. Check out your portfolio center. Please also check ongoing floating volatility patterns of Kinsale Capital and Icbs.
Diversification Opportunities for Kinsale Capital and Icbs
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Kinsale and Icbs is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Kinsale Capital Group and Icbs Ltd New in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Icbs Ltd New and Kinsale Capital 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 Kinsale Capital Group are associated (or correlated) with Icbs. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Icbs Ltd New has no effect on the direction of Kinsale Capital i.e., Kinsale Capital and Icbs go up and down completely randomly.
Pair Corralation between Kinsale Capital and Icbs
If you would invest 47,606 in Kinsale Capital Group on September 12, 2024 and sell it today you would earn a total of 3,581 from holding Kinsale Capital Group or generate 7.52% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 95.45% |
| Values | Daily Returns |
Kinsale Capital Group vs. Icbs Ltd New
Performance |
| Timeline |
| Kinsale Capital Group |
| Icbs Ltd New |
Kinsale Capital and Icbs Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Kinsale Capital and Icbs
The main advantage of trading using opposite Kinsale Capital and Icbs positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Kinsale Capital position performs unexpectedly, Icbs 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 Icbs will offset losses from the drop in Icbs' long position.| Kinsale Capital vs. Aeye Inc | Kinsale Capital vs. Ep Emerging Markets | Kinsale Capital vs. LiCycle Holdings Corp | Kinsale Capital vs. SEI Investments |
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 Technical Analysis module to check basic technical indicators and analysis based on most latest market data.
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