Correlation Between Sabre Insurance and Halyk Bank
Can any of the company-specific risk be diversified away by investing in both Sabre Insurance and Halyk Bank 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 Sabre Insurance and Halyk Bank into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Sabre Insurance Group and Halyk Bank of, you can compare the effects of market volatilities on Sabre Insurance and Halyk Bank 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 Sabre Insurance with a short position of Halyk Bank. Check out your portfolio center. Please also check ongoing floating volatility patterns of Sabre Insurance and Halyk Bank.
Diversification Opportunities for Sabre Insurance and Halyk Bank
0.03 | Correlation Coefficient |
Significant diversification
The 3 months correlation between Sabre and Halyk is 0.03. Overlapping area represents the amount of risk that can be diversified away by holding Sabre Insurance Group and Halyk Bank of in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Halyk Bank and Sabre 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 Sabre Insurance Group are associated (or correlated) with Halyk Bank. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Halyk Bank has no effect on the direction of Sabre Insurance i.e., Sabre Insurance and Halyk Bank go up and down completely randomly.
Pair Corralation between Sabre Insurance and Halyk Bank
Assuming the 90 days trading horizon Sabre Insurance Group is expected to generate 1.07 times more return on investment than Halyk Bank. However, Sabre Insurance is 1.07 times more volatile than Halyk Bank of. It trades about -0.22 of its potential returns per unit of risk. Halyk Bank of is currently generating about -0.29 per unit of risk. If you would invest 14,100 in Sabre Insurance Group on November 5, 2024 and sell it today you would lose (860.00) from holding Sabre Insurance Group or give up 6.1% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Sabre Insurance Group vs. Halyk Bank of
Performance |
| Timeline |
| Sabre Insurance Group |
| Halyk Bank |
Sabre Insurance and Halyk Bank Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Sabre Insurance and Halyk Bank
The main advantage of trading using opposite Sabre Insurance and Halyk Bank positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Sabre Insurance position performs unexpectedly, Halyk Bank 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 Halyk Bank will offset losses from the drop in Halyk Bank's long position.| Sabre Insurance vs. Auto Trader Group | Sabre Insurance vs. Axway Software SA | Sabre Insurance vs. Westlake Chemical Corp | Sabre Insurance vs. Alfa Financial Software |
| Halyk Bank vs. Verizon Communications | Halyk Bank vs. Abingdon Health Plc | Halyk Bank vs. Primary Health Properties | Halyk Bank vs. Eco Animal Health |
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 Share Portfolio module to track or share privately all of your investments from the convenience of any device.
Other Complementary Tools
| Portfolio Suggestion Get suggestions outside of your existing asset allocation including your own model portfolios | |
| Share Portfolio Track or share privately all of your investments from the convenience of any device | |
| Latest Portfolios Quick portfolio dashboard that showcases your latest portfolios | |
| Equity Search Search for actively traded equities including funds and ETFs from over 30 global markets | |
| USA ETFs Find actively traded Exchange Traded Funds (ETF) in USA |