Correlation Between STANDARD ALLIANCE and CORNERSTONE INSURANCE
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By analyzing existing cross correlation between STANDARD ALLIANCE INSURANCE and CORNERSTONE INSURANCE PLC, you can compare the effects of market volatilities on STANDARD ALLIANCE 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 STANDARD ALLIANCE with a short position of CORNERSTONE INSURANCE. Check out your portfolio center. Please also check ongoing floating volatility patterns of STANDARD ALLIANCE and CORNERSTONE INSURANCE.
Diversification Opportunities for STANDARD ALLIANCE and CORNERSTONE INSURANCE
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between STANDARD and CORNERSTONE is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding STANDARD ALLIANCE INSURANCE 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 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 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 STANDARD ALLIANCE i.e., STANDARD ALLIANCE and CORNERSTONE INSURANCE go up and down completely randomly.
Pair Corralation between STANDARD ALLIANCE 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 Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
STANDARD ALLIANCE INSURANCE vs. CORNERSTONE INSURANCE PLC
Performance |
| Timeline |
| STANDARD ALLIANCE |
| CORNERSTONE INSURANCE PLC |
STANDARD ALLIANCE and CORNERSTONE INSURANCE Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with STANDARD ALLIANCE and CORNERSTONE INSURANCE
The main advantage of trading using opposite STANDARD ALLIANCE and CORNERSTONE INSURANCE positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if STANDARD ALLIANCE 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.| STANDARD ALLIANCE vs. CHAMPION BREWERIES PLC | ||
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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 Global Markets Map module to get a quick overview of global market snapshot using zoomable world map. Drill down to check world indexes.
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