Correlation Between Maiden Holdings and Maiden Holdings
Can any of the company-specific risk be diversified away by investing in both Maiden Holdings and Maiden Holdings 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 Maiden Holdings and Maiden Holdings into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Maiden Holdings North and Maiden Holdings, you can compare the effects of market volatilities on Maiden Holdings and Maiden Holdings 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 Maiden Holdings. Check out your portfolio center. Please also check ongoing floating volatility patterns of Maiden Holdings and Maiden Holdings.
Diversification Opportunities for Maiden Holdings and Maiden Holdings
0.81 | Correlation Coefficient |
Very poor diversification
The 3 months correlation between Maiden and Maiden is 0.81. Overlapping area represents the amount of risk that can be diversified away by holding Maiden Holdings North and Maiden Holdings in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Maiden Holdings 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 North are associated (or correlated) with Maiden Holdings. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Maiden Holdings has no effect on the direction of Maiden Holdings i.e., Maiden Holdings and Maiden Holdings go up and down completely randomly.
Pair Corralation between Maiden Holdings and Maiden Holdings
Given the investment horizon of 90 days Maiden Holdings North is expected to under-perform the Maiden Holdings. In addition to that, Maiden Holdings is 1.42 times more volatile than Maiden Holdings. It trades about -0.18 of its total potential returns per unit of risk. Maiden Holdings is currently generating about -0.04 per unit of volatility. If you would invest 1,682 in Maiden Holdings on August 27, 2024 and sell it today you would lose (21.00) from holding Maiden Holdings or give up 1.25% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Strong |
| Accuracy | 100.0% |
| Values | Daily Returns |
Maiden Holdings North vs. Maiden Holdings
Performance |
| Timeline |
| Maiden Holdings North |
| Maiden Holdings |
Maiden Holdings and Maiden Holdings Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Maiden Holdings and Maiden Holdings
The main advantage of trading using opposite Maiden Holdings and Maiden Holdings positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Maiden Holdings position performs unexpectedly, Maiden Holdings 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 Maiden Holdings will offset losses from the drop in Maiden Holdings' long position.| Maiden Holdings vs. Maiden Holdings | Maiden Holdings vs. Affiliated Managers Group | Maiden Holdings vs. Entergy New Orleans | Maiden Holdings vs. American Financial Group |
| Maiden Holdings vs. Maiden Holdings North | Maiden Holdings vs. Reinsurance Group of | Maiden Holdings vs. Entergy Arkansas LLC | Maiden Holdings vs. Entergy New Orleans |
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 Idea Breakdown module to analyze constituents of all Macroaxis ideas. Macroaxis investment ideas are predefined, sector-focused investing themes.
Other Complementary Tools
| Odds Of Bankruptcy Get analysis of equity chance of financial distress in the next 2 years | |
| Equity Search Search for actively traded equities including funds and ETFs from over 30 global markets | |
| Analyst Advice Analyst recommendations and target price estimates broken down by several categories | |
| Fundamentals Comparison Compare fundamentals across multiple equities to find investing opportunities | |
| Bonds Directory Find actively traded corporate debentures issued by US companies |