Correlation Between Maiden Holdings and 459200KM2
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By analyzing existing cross correlation between Maiden Holdings and IBM 22 09 FEB 27, you can compare the effects of market volatilities on Maiden Holdings and 459200KM2 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 Maiden Holdings with a short position of 459200KM2. Check out your portfolio center. Please also check ongoing floating volatility patterns of Maiden Holdings and 459200KM2.
Diversification Opportunities for Maiden Holdings and 459200KM2
-0.08 | Correlation Coefficient |
Good diversification
The 3 months correlation between Maiden and 459200KM2 is -0.08. Overlapping area represents the amount of risk that can be diversified away by holding Maiden Holdings and IBM 22 09 FEB 27 in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on IBM 22 09 and Maiden Holdings 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 Maiden Holdings are associated (or correlated) with 459200KM2. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of IBM 22 09 has no effect on the direction of Maiden Holdings i.e., Maiden Holdings and 459200KM2 go up and down completely randomly.
Pair Corralation between Maiden Holdings and 459200KM2
Given the investment horizon of 90 days Maiden Holdings is expected to generate 5.23 times more return on investment than 459200KM2. However, Maiden Holdings is 5.23 times more volatile than IBM 22 09 FEB 27. It trades about 0.06 of its potential returns per unit of risk. IBM 22 09 FEB 27 is currently generating about 0.02 per unit of risk. If you would invest 1,340 in Maiden Holdings on August 25, 2024 and sell it today you would earn a total of 353.00 from holding Maiden Holdings or generate 26.34% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 82.58% |
| Values | Daily Returns |
Maiden Holdings vs. IBM 22 09 FEB 27
Performance |
| Timeline |
| Maiden Holdings |
| IBM 22 09 |
Maiden Holdings and 459200KM2 Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Maiden Holdings and 459200KM2
The main advantage of trading using opposite Maiden Holdings and 459200KM2 positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Maiden Holdings position performs unexpectedly, 459200KM2 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 459200KM2 will offset losses from the drop in 459200KM2's long position.| Maiden Holdings vs. Maiden Holdings North | Maiden Holdings vs. Reinsurance Group of | Maiden Holdings vs. Entergy Arkansas LLC | Maiden Holdings vs. Entergy New Orleans |
| 459200KM2 vs. Pekin Life Insurance | 459200KM2 vs. Maiden Holdings | 459200KM2 vs. Old Republic International | 459200KM2 vs. Lion One Metals |
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 Portfolio Comparator module to compare the composition, asset allocations and performance of any two portfolios in your account.
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