Correlation Between STANDARD ALLIANCE and CONSOLIDATED HALLMARK
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By analyzing existing cross correlation between STANDARD ALLIANCE INSURANCE and CONSOLIDATED HALLMARK INSURANCE, you can compare the effects of market volatilities on STANDARD ALLIANCE and CONSOLIDATED HALLMARK 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 CONSOLIDATED HALLMARK. Check out your portfolio center. Please also check ongoing floating volatility patterns of STANDARD ALLIANCE and CONSOLIDATED HALLMARK.
Diversification Opportunities for STANDARD ALLIANCE and CONSOLIDATED HALLMARK
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between STANDARD and CONSOLIDATED is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding STANDARD ALLIANCE INSURANCE and CONSOLIDATED HALLMARK INSURANC in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on CONSOLIDATED HALLMARK 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 CONSOLIDATED HALLMARK. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of CONSOLIDATED HALLMARK has no effect on the direction of STANDARD ALLIANCE i.e., STANDARD ALLIANCE and CONSOLIDATED HALLMARK go up and down completely randomly.
Pair Corralation between STANDARD ALLIANCE and CONSOLIDATED HALLMARK
If you would invest 50.00 in CONSOLIDATED HALLMARK INSURANCE on November 5, 2024 and sell it today you would earn a total of 256.00 from holding CONSOLIDATED HALLMARK INSURANCE or generate 512.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 60.49% |
| Values | Daily Returns |
STANDARD ALLIANCE INSURANCE vs. CONSOLIDATED HALLMARK INSURANC
Performance |
| Timeline |
| STANDARD ALLIANCE |
| CONSOLIDATED HALLMARK |
STANDARD ALLIANCE and CONSOLIDATED HALLMARK Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with STANDARD ALLIANCE and CONSOLIDATED HALLMARK
The main advantage of trading using opposite STANDARD ALLIANCE and CONSOLIDATED HALLMARK positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if STANDARD ALLIANCE position performs unexpectedly, CONSOLIDATED HALLMARK 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 CONSOLIDATED HALLMARK will offset losses from the drop in CONSOLIDATED HALLMARK'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 |
| CONSOLIDATED HALLMARK vs. IKEJA HOTELS PLC | CONSOLIDATED HALLMARK vs. MULTI TREX INTEGRATED FOODS | CONSOLIDATED HALLMARK vs. INTERNATIONAL ENERGY INSURANCE | CONSOLIDATED HALLMARK 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 Sign In To Macroaxis module to sign in to explore Macroaxis' wealth optimization platform and fintech modules.
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