Correlation Between STANDARD ALLIANCE and CUSTODIAN INVESTMENT
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By analyzing existing cross correlation between STANDARD ALLIANCE INSURANCE and CUSTODIAN INVESTMENT PLC, you can compare the effects of market volatilities on STANDARD ALLIANCE and CUSTODIAN INVESTMENT 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 CUSTODIAN INVESTMENT. Check out your portfolio center. Please also check ongoing floating volatility patterns of STANDARD ALLIANCE and CUSTODIAN INVESTMENT.
Diversification Opportunities for STANDARD ALLIANCE and CUSTODIAN INVESTMENT
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between STANDARD and CUSTODIAN is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding STANDARD ALLIANCE INSURANCE and CUSTODIAN INVESTMENT PLC in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on CUSTODIAN INVESTMENT 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 CUSTODIAN INVESTMENT. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of CUSTODIAN INVESTMENT PLC has no effect on the direction of STANDARD ALLIANCE i.e., STANDARD ALLIANCE and CUSTODIAN INVESTMENT go up and down completely randomly.
Pair Corralation between STANDARD ALLIANCE and CUSTODIAN INVESTMENT
If you would invest 610.00 in CUSTODIAN INVESTMENT PLC on December 12, 2024 and sell it today you would earn a total of 1,390 from holding CUSTODIAN INVESTMENT PLC or generate 227.87% 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. CUSTODIAN INVESTMENT PLC
Performance |
| Timeline |
| STANDARD ALLIANCE |
| CUSTODIAN INVESTMENT PLC |
STANDARD ALLIANCE and CUSTODIAN INVESTMENT Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with STANDARD ALLIANCE and CUSTODIAN INVESTMENT
The main advantage of trading using opposite STANDARD ALLIANCE and CUSTODIAN INVESTMENT positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if STANDARD ALLIANCE position performs unexpectedly, CUSTODIAN INVESTMENT 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 CUSTODIAN INVESTMENT will offset losses from the drop in CUSTODIAN INVESTMENT'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 Fundamental Analysis module to view fundamental data based on most recent published financial statements.
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