Correlation Between STANDARD ALLIANCE and FIDELITY BANK
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By analyzing existing cross correlation between STANDARD ALLIANCE INSURANCE and FIDELITY BANK PLC, you can compare the effects of market volatilities on STANDARD ALLIANCE and FIDELITY BANK 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 FIDELITY BANK. Check out your portfolio center. Please also check ongoing floating volatility patterns of STANDARD ALLIANCE and FIDELITY BANK.
Diversification Opportunities for STANDARD ALLIANCE and FIDELITY BANK
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between STANDARD and FIDELITY is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding STANDARD ALLIANCE INSURANCE and FIDELITY BANK PLC in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on FIDELITY BANK 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 FIDELITY BANK. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of FIDELITY BANK PLC has no effect on the direction of STANDARD ALLIANCE i.e., STANDARD ALLIANCE and FIDELITY BANK go up and down completely randomly.
Pair Corralation between STANDARD ALLIANCE and FIDELITY BANK
If you would invest 1,075 in FIDELITY BANK PLC on November 3, 2024 and sell it today you would earn a total of 870.00 from holding FIDELITY BANK PLC or generate 80.93% 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. FIDELITY BANK PLC
Performance |
| Timeline |
| STANDARD ALLIANCE |
| FIDELITY BANK PLC |
STANDARD ALLIANCE and FIDELITY BANK Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with STANDARD ALLIANCE and FIDELITY BANK
The main advantage of trading using opposite STANDARD ALLIANCE and FIDELITY BANK positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if STANDARD ALLIANCE position performs unexpectedly, FIDELITY BANK 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 FIDELITY BANK will offset losses from the drop in FIDELITY BANK's long position.| STANDARD ALLIANCE vs. AXAMANSARD INSURANCE PLC | STANDARD ALLIANCE vs. CUSTODIAN INVESTMENT PLC | STANDARD ALLIANCE vs. JAIZ BANK PLC | STANDARD ALLIANCE vs. CORNERSTONE INSURANCE 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 My Watchlist Analysis module to analyze my current watchlist and to refresh optimization strategy. Macroaxis watchlist is based on self-learning algorithm to remember stocks you like.
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