Correlation Between Siriuspoint and GLENLN
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By analyzing existing cross correlation between Siriuspoint and GLENLN 1625 27 APR 26, you can compare the effects of market volatilities on Siriuspoint and GLENLN 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 Siriuspoint with a short position of GLENLN. Check out your portfolio center. Please also check ongoing floating volatility patterns of Siriuspoint and GLENLN.
Diversification Opportunities for Siriuspoint and GLENLN
-0.3 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Siriuspoint and GLENLN is -0.3. Overlapping area represents the amount of risk that can be diversified away by holding Siriuspoint and GLENLN 1625 27 APR 26 in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on GLENLN 1625 27 and Siriuspoint 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 Siriuspoint are associated (or correlated) with GLENLN. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of GLENLN 1625 27 has no effect on the direction of Siriuspoint i.e., Siriuspoint and GLENLN go up and down completely randomly.
Pair Corralation between Siriuspoint and GLENLN
Given the investment horizon of 90 days Siriuspoint is expected to generate 2.7 times more return on investment than GLENLN. However, Siriuspoint is 2.7 times more volatile than GLENLN 1625 27 APR 26. It trades about 0.09 of its potential returns per unit of risk. GLENLN 1625 27 APR 26 is currently generating about 0.02 per unit of risk. If you would invest 1,042 in Siriuspoint on September 14, 2024 and sell it today you would earn a total of 513.00 from holding Siriuspoint or generate 49.23% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 66.17% |
| Values | Daily Returns |
Siriuspoint vs. GLENLN 1625 27 APR 26
Performance |
| Timeline |
| Siriuspoint |
| GLENLN 1625 27 |
Siriuspoint and GLENLN Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Siriuspoint and GLENLN
The main advantage of trading using opposite Siriuspoint and GLENLN positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Siriuspoint position performs unexpectedly, GLENLN 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 GLENLN will offset losses from the drop in GLENLN's long position.| Siriuspoint vs. Maiden Holdings | Siriuspoint vs. Reinsurance Group of | Siriuspoint vs. Oxbridge Re Holdings | Siriuspoint vs. Greenlight Capital Re |
| GLENLN vs. SFL Corporation | GLENLN vs. Sabre Corpo | GLENLN vs. RBC Bearings Incorporated | GLENLN vs. Supercom |
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 Anywhere module to track or share privately all of your investments from the convenience of any device.
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