Correlation Between AXAMANSARD INSURANCE and AFRICAN ALLIANCE
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By analyzing existing cross correlation between AXAMANSARD INSURANCE PLC and AFRICAN ALLIANCE INSURANCE, you can compare the effects of market volatilities on AXAMANSARD INSURANCE and AFRICAN 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 AXAMANSARD INSURANCE with a short position of AFRICAN ALLIANCE. Check out your portfolio center. Please also check ongoing floating volatility patterns of AXAMANSARD INSURANCE and AFRICAN ALLIANCE.
Diversification Opportunities for AXAMANSARD INSURANCE and AFRICAN ALLIANCE
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between AXAMANSARD and AFRICAN is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding AXAMANSARD INSURANCE PLC and AFRICAN ALLIANCE INSURANCE in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on AFRICAN ALLIANCE INS and AXAMANSARD INSURANCE 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 AXAMANSARD INSURANCE PLC are associated (or correlated) with AFRICAN ALLIANCE. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of AFRICAN ALLIANCE INS has no effect on the direction of AXAMANSARD INSURANCE i.e., AXAMANSARD INSURANCE and AFRICAN ALLIANCE go up and down completely randomly.
Pair Corralation between AXAMANSARD INSURANCE and AFRICAN ALLIANCE
If you would invest 580.00 in AXAMANSARD INSURANCE PLC on November 6, 2024 and sell it today you would earn a total of 320.00 from holding AXAMANSARD INSURANCE PLC or generate 55.17% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
AXAMANSARD INSURANCE PLC vs. AFRICAN ALLIANCE INSURANCE
Performance |
| Timeline |
| AXAMANSARD INSURANCE PLC |
| AFRICAN ALLIANCE INS |
AXAMANSARD INSURANCE and AFRICAN ALLIANCE Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with AXAMANSARD INSURANCE and AFRICAN ALLIANCE
The main advantage of trading using opposite AXAMANSARD INSURANCE and AFRICAN ALLIANCE positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if AXAMANSARD INSURANCE position performs unexpectedly, AFRICAN 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 AFRICAN ALLIANCE will offset losses from the drop in AFRICAN ALLIANCE's long position.| AXAMANSARD INSURANCE vs. AFRICAN ALLIANCE INSURANCE | AXAMANSARD INSURANCE vs. LIVINGTRUST MORTGAGE BANK | AXAMANSARD INSURANCE vs. JAIZ BANK PLC | AXAMANSARD INSURANCE vs. UNITED BANK FOR |
| AFRICAN ALLIANCE vs. NEM INSURANCE PLC | AFRICAN ALLIANCE vs. AIICO INSURANCE PLC | AFRICAN ALLIANCE vs. ASO SAVINGS AND | AFRICAN ALLIANCE vs. FIDSON HEALTHCARE 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 Piotroski F Score module to get Piotroski F Score based on the binary analysis strategy of nine different fundamentals.
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