Correlation Between STANDARD ALLIANCE and AIICO INSURANCE
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By analyzing existing cross correlation between STANDARD ALLIANCE INSURANCE and AIICO INSURANCE PLC, you can compare the effects of market volatilities on STANDARD ALLIANCE and AIICO 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 STANDARD ALLIANCE with a short position of AIICO INSURANCE. Check out your portfolio center. Please also check ongoing floating volatility patterns of STANDARD ALLIANCE and AIICO INSURANCE.
Diversification Opportunities for STANDARD ALLIANCE and AIICO INSURANCE
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between STANDARD and AIICO is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding STANDARD ALLIANCE INSURANCE and AIICO INSURANCE PLC in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on AIICO INSURANCE PLC and STANDARD ALLIANCE 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 STANDARD ALLIANCE INSURANCE are associated (or correlated) with AIICO INSURANCE. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of AIICO INSURANCE PLC has no effect on the direction of STANDARD ALLIANCE i.e., STANDARD ALLIANCE and AIICO INSURANCE go up and down completely randomly.
Pair Corralation between STANDARD ALLIANCE and AIICO INSURANCE
If you would invest 20.00 in STANDARD ALLIANCE INSURANCE on November 5, 2024 and sell it today you would earn a total of 0.00 from holding STANDARD ALLIANCE INSURANCE or generate 0.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 95.24% |
| Values | Daily Returns |
STANDARD ALLIANCE INSURANCE vs. AIICO INSURANCE PLC
Performance |
| Timeline |
| STANDARD ALLIANCE |
| AIICO INSURANCE PLC |
STANDARD ALLIANCE and AIICO INSURANCE Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with STANDARD ALLIANCE and AIICO INSURANCE
The main advantage of trading using opposite STANDARD ALLIANCE and AIICO INSURANCE positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if STANDARD ALLIANCE position performs unexpectedly, AIICO 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 AIICO INSURANCE will offset losses from the drop in AIICO INSURANCE's long position.| STANDARD ALLIANCE vs. STACO INSURANCE PLC | STANDARD ALLIANCE vs. UNION HOMES SAVINGS | STANDARD ALLIANCE vs. WEMA BANK PLC | STANDARD ALLIANCE vs. NEM INSURANCE PLC |
| AIICO INSURANCE vs. AXAMANSARD INSURANCE PLC | AIICO INSURANCE vs. GOLDEN GUINEA BREWERIES | AIICO INSURANCE vs. UNITED BANK FOR | AIICO INSURANCE vs. STACO INSURANCE PLC |
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 Optimizer module to use advanced portfolio builder with pre-computed micro ideas to build optimal portfolio .
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