Correlation Between STANDARD ALLIANCE and FIDSON HEALTHCARE
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By analyzing existing cross correlation between STANDARD ALLIANCE INSURANCE and FIDSON HEALTHCARE PLC, you can compare the effects of market volatilities on STANDARD ALLIANCE and FIDSON HEALTHCARE 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 FIDSON HEALTHCARE. Check out your portfolio center. Please also check ongoing floating volatility patterns of STANDARD ALLIANCE and FIDSON HEALTHCARE.
Diversification Opportunities for STANDARD ALLIANCE and FIDSON HEALTHCARE
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between STANDARD and FIDSON is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding STANDARD ALLIANCE INSURANCE and FIDSON HEALTHCARE PLC in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on FIDSON HEALTHCARE 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 FIDSON HEALTHCARE. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of FIDSON HEALTHCARE PLC has no effect on the direction of STANDARD ALLIANCE i.e., STANDARD ALLIANCE and FIDSON HEALTHCARE go up and down completely randomly.
Pair Corralation between STANDARD ALLIANCE and FIDSON HEALTHCARE
If you would invest 20.00 in STANDARD ALLIANCE INSURANCE on September 3, 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 | 100.0% |
| Values | Daily Returns |
STANDARD ALLIANCE INSURANCE vs. FIDSON HEALTHCARE PLC
Performance |
| Timeline |
| STANDARD ALLIANCE |
| FIDSON HEALTHCARE PLC |
STANDARD ALLIANCE and FIDSON HEALTHCARE Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with STANDARD ALLIANCE and FIDSON HEALTHCARE
The main advantage of trading using opposite STANDARD ALLIANCE and FIDSON HEALTHCARE positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if STANDARD ALLIANCE position performs unexpectedly, FIDSON HEALTHCARE 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 FIDSON HEALTHCARE will offset losses from the drop in FIDSON HEALTHCARE's long position.| STANDARD ALLIANCE vs. CONSOLIDATED HALLMARK INSURANCE | STANDARD ALLIANCE vs. SECURE ELECTRONIC TECHNOLOGY | STANDARD ALLIANCE vs. ZENITH BANK PLC | STANDARD ALLIANCE vs. INDUSTRIAL MEDICAL GASES |
| FIDSON HEALTHCARE vs. GUINEA INSURANCE PLC | FIDSON HEALTHCARE vs. SECURE ELECTRONIC TECHNOLOGY | FIDSON HEALTHCARE vs. AIRTEL AFRICA PLC | FIDSON HEALTHCARE vs. VFD GROUP |
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 Transaction History module to view history of all your transactions and understand their impact on performance.
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