Correlation Between STACO INSURANCE and CORNERSTONE INSURANCE

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Can any of the company-specific risk be diversified away by investing in both STACO INSURANCE and CORNERSTONE INSURANCE 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 STACO INSURANCE and CORNERSTONE INSURANCE into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between STACO INSURANCE PLC and CORNERSTONE INSURANCE PLC, you can compare the effects of market volatilities on STACO INSURANCE and CORNERSTONE INSURANCE 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 STACO INSURANCE with a short position of CORNERSTONE INSURANCE. Check out your portfolio center. Please also check ongoing floating volatility patterns of STACO INSURANCE and CORNERSTONE INSURANCE.

Diversification Opportunities for STACO INSURANCE and CORNERSTONE INSURANCE

STACOCORNERSTONEDiversified AwaySTACOCORNERSTONEDiversified Away100%
0.0
  Correlation Coefficient

Pay attention - limited upside

The 3 months correlation between STACO and CORNERSTONE is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding STACO INSURANCE PLC and CORNERSTONE INSURANCE PLC in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on CORNERSTONE INSURANCE PLC and STACO 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 STACO INSURANCE PLC are associated (or correlated) with CORNERSTONE INSURANCE. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of CORNERSTONE INSURANCE PLC has no effect on the direction of STACO INSURANCE i.e., STACO INSURANCE and CORNERSTONE INSURANCE go up and down completely randomly.

Pair Corralation between STACO INSURANCE and CORNERSTONE INSURANCE

If you would invest  68.00  in CORNERSTONE INSURANCE PLC on December 12, 2024 and sell it today you would earn a total of  251.00  from holding CORNERSTONE INSURANCE PLC or generate 369.12% return on investment over 90 days.
Time Period3 Months [change]
DirectionFlat 
StrengthInsignificant
Accuracy100.0%
ValuesDaily Returns

STACO INSURANCE PLC  vs.  CORNERSTONE INSURANCE PLC

 Performance 
JavaScript chart by amCharts 3.21.15Dec2025Feb 1020304050
JavaScript chart by amCharts 3.21.15STACO CORNERST
       Timeline  
STACO INSURANCE PLC 

Risk-Adjusted Performance

Very Weak

 
Weak
 
Strong
Over the last 90 days STACO INSURANCE PLC has generated negative risk-adjusted returns adding no value to investors with long positions. In spite of fairly strong fundamental indicators, STACO INSURANCE is not utilizing all of its potentials. The recent stock price disturbance, may contribute to short-term losses for the investors.
JavaScript chart by amCharts 3.21.15JanFebMarFebMar0.480.485
CORNERSTONE INSURANCE PLC 

Risk-Adjusted Performance

Very Weak

 
Weak
 
Strong
Compared to the overall equity markets, risk-adjusted returns on investments in CORNERSTONE INSURANCE PLC are ranked lower than 2 (%) of all global equities and portfolios over the last 90 days. In spite of comparatively uncertain basic indicators, CORNERSTONE INSURANCE may actually be approaching a critical reversion point that can send shares even higher in April 2025.
JavaScript chart by amCharts 3.21.15JanFebMarFebMar33.544.5

STACO INSURANCE and CORNERSTONE INSURANCE Volatility Contrast

   Predicted Return Density   
JavaScript chart by amCharts 3.21.15 0.0050.0100.0150.020
JavaScript chart by amCharts 3.21.15STACO CORNERST
       Returns  

Pair Trading with STACO INSURANCE and CORNERSTONE INSURANCE

The main advantage of trading using opposite STACO INSURANCE and CORNERSTONE INSURANCE positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if STACO INSURANCE position performs unexpectedly, CORNERSTONE INSURANCE 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 CORNERSTONE INSURANCE will offset losses from the drop in CORNERSTONE INSURANCE's long position.
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The idea behind STACO INSURANCE PLC and CORNERSTONE INSURANCE PLC pairs trading is to make the combined position market-neutral, meaning the overall market's direction will not affect its win or loss (or potential downside or upside). This can be achieved by designing a pairs trade with two highly correlated stocks or equities that operate in a similar space or sector, making it possible to obtain profits through simple and relatively low-risk investment.
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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 Instant Ratings module to determine any equity ratings based on digital recommendations. Macroaxis instant equity ratings are based on combination of fundamental analysis and risk-adjusted market performance.

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