Correlation Between LIVINGTRUST MORTGAGE and AXAMANSARD INSURANCE
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By analyzing existing cross correlation between LIVINGTRUST MORTGAGE BANK and AXAMANSARD INSURANCE PLC, you can compare the effects of market volatilities on LIVINGTRUST MORTGAGE and AXAMANSARD INSURANCE 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 LIVINGTRUST MORTGAGE with a short position of AXAMANSARD INSURANCE. Check out your portfolio center. Please also check ongoing floating volatility patterns of LIVINGTRUST MORTGAGE and AXAMANSARD INSURANCE.
Diversification Opportunities for LIVINGTRUST MORTGAGE and AXAMANSARD INSURANCE
0.87 | Correlation Coefficient |
Very poor diversification
The 3 months correlation between LIVINGTRUST and AXAMANSARD is 0.87. Overlapping area represents the amount of risk that can be diversified away by holding LIVINGTRUST MORTGAGE BANK and AXAMANSARD INSURANCE PLC in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on AXAMANSARD INSURANCE PLC and LIVINGTRUST MORTGAGE 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 LIVINGTRUST MORTGAGE BANK are associated (or correlated) with AXAMANSARD INSURANCE. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of AXAMANSARD INSURANCE PLC has no effect on the direction of LIVINGTRUST MORTGAGE i.e., LIVINGTRUST MORTGAGE and AXAMANSARD INSURANCE go up and down completely randomly.
Pair Corralation between LIVINGTRUST MORTGAGE and AXAMANSARD INSURANCE
Assuming the 90 days trading horizon LIVINGTRUST MORTGAGE BANK is expected to generate 0.95 times more return on investment than AXAMANSARD INSURANCE. However, LIVINGTRUST MORTGAGE BANK is 1.05 times less risky than AXAMANSARD INSURANCE. It trades about 0.42 of its potential returns per unit of risk. AXAMANSARD INSURANCE PLC is currently generating about 0.15 per unit of risk. If you would invest 363.00 in LIVINGTRUST MORTGAGE BANK on October 26, 2024 and sell it today you would earn a total of 118.00 from holding LIVINGTRUST MORTGAGE BANK or generate 32.51% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Strong |
| Accuracy | 100.0% |
| Values | Daily Returns |
LIVINGTRUST MORTGAGE BANK vs. AXAMANSARD INSURANCE PLC
Performance |
| Timeline |
| LIVINGTRUST MORTGAGE BANK |
| AXAMANSARD INSURANCE PLC |
LIVINGTRUST MORTGAGE and AXAMANSARD INSURANCE Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with LIVINGTRUST MORTGAGE and AXAMANSARD INSURANCE
The main advantage of trading using opposite LIVINGTRUST MORTGAGE and AXAMANSARD INSURANCE positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if LIVINGTRUST MORTGAGE position performs unexpectedly, AXAMANSARD INSURANCE 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 AXAMANSARD INSURANCE will offset losses from the drop in AXAMANSARD INSURANCE's long position.| LIVINGTRUST MORTGAGE vs. INDUSTRIAL MEDICAL GASES | LIVINGTRUST MORTGAGE vs. FIDELITY BANK PLC | LIVINGTRUST MORTGAGE vs. CONSOLIDATED HALLMARK INSURANCE | LIVINGTRUST MORTGAGE vs. AXAMANSARD INSURANCE 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 Performance Analysis module to check effects of mean-variance optimization against your current asset allocation.
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