Correlation Between Pekin Life and 19123MAF0
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By analyzing existing cross correlation between Pekin Life Insurance and CCEP 15 15 JAN 27, you can compare the effects of market volatilities on Pekin Life and 19123MAF0 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 Pekin Life with a short position of 19123MAF0. Check out your portfolio center. Please also check ongoing floating volatility patterns of Pekin Life and 19123MAF0.
Diversification Opportunities for Pekin Life and 19123MAF0
0.37 | Correlation Coefficient |
Weak diversification
The 3 months correlation between Pekin and 19123MAF0 is 0.37. Overlapping area represents the amount of risk that can be diversified away by holding Pekin Life Insurance and CCEP 15 15 JAN 27 in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on CCEP 15 15 and Pekin Life 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 Pekin Life Insurance are associated (or correlated) with 19123MAF0. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of CCEP 15 15 has no effect on the direction of Pekin Life i.e., Pekin Life and 19123MAF0 go up and down completely randomly.
Pair Corralation between Pekin Life and 19123MAF0
Given the investment horizon of 90 days Pekin Life is expected to generate 4.65 times less return on investment than 19123MAF0. But when comparing it to its historical volatility, Pekin Life Insurance is 2.63 times less risky than 19123MAF0. It trades about 0.03 of its potential returns per unit of risk. CCEP 15 15 JAN 27 is currently generating about 0.05 of returns per unit of risk over similar time horizon. If you would invest 8,806 in CCEP 15 15 JAN 27 on September 12, 2024 and sell it today you would earn a total of 235.00 from holding CCEP 15 15 JAN 27 or generate 2.67% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 26.97% |
| Values | Daily Returns |
Pekin Life Insurance vs. CCEP 15 15 JAN 27
Performance |
| Timeline |
| Pekin Life Insurance |
| CCEP 15 15 |
Pekin Life and 19123MAF0 Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Pekin Life and 19123MAF0
The main advantage of trading using opposite Pekin Life and 19123MAF0 positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Pekin Life position performs unexpectedly, 19123MAF0 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 19123MAF0 will offset losses from the drop in 19123MAF0's long position.| Pekin Life vs. FG Annuities Life | Pekin Life vs. MetLife Preferred Stock | Pekin Life vs. Brighthouse Financial | Pekin Life vs. MetLife Preferred Stock |
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 Pattern Recognition module to use different Pattern Recognition models to time the market across multiple global exchanges.
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