Correlation Between STANDARD ALLIANCE and GOLDLINK INSURANCE
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By analyzing existing cross correlation between STANDARD ALLIANCE INSURANCE and GOLDLINK INSURANCE PLC, you can compare the effects of market volatilities on STANDARD ALLIANCE and GOLDLINK 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 GOLDLINK INSURANCE. Check out your portfolio center. Please also check ongoing floating volatility patterns of STANDARD ALLIANCE and GOLDLINK INSURANCE.
Diversification Opportunities for STANDARD ALLIANCE and GOLDLINK INSURANCE
1.0 | Correlation Coefficient |
No risk reduction
The 3 months correlation between STANDARD and GOLDLINK is 1.0. Overlapping area represents the amount of risk that can be diversified away by holding STANDARD ALLIANCE INSURANCE and GOLDLINK INSURANCE PLC in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on GOLDLINK 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 GOLDLINK INSURANCE. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of GOLDLINK INSURANCE PLC has no effect on the direction of STANDARD ALLIANCE i.e., STANDARD ALLIANCE and GOLDLINK INSURANCE go up and down completely randomly.
Pair Corralation between STANDARD ALLIANCE and GOLDLINK INSURANCE
If you would invest 20.00 in GOLDLINK INSURANCE PLC on September 3, 2024 and sell it today you would earn a total of 0.00 from holding GOLDLINK INSURANCE PLC or generate 0.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Strong |
| Accuracy | 100.0% |
| Values | Daily Returns |
STANDARD ALLIANCE INSURANCE vs. GOLDLINK INSURANCE PLC
Performance |
| Timeline |
| STANDARD ALLIANCE |
| GOLDLINK INSURANCE PLC |
STANDARD ALLIANCE and GOLDLINK INSURANCE Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with STANDARD ALLIANCE and GOLDLINK INSURANCE
The main advantage of trading using opposite STANDARD ALLIANCE and GOLDLINK INSURANCE positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if STANDARD ALLIANCE position performs unexpectedly, GOLDLINK 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 GOLDLINK INSURANCE will offset losses from the drop in GOLDLINK INSURANCE'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 |
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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 Idea Analyzer module to analyze all characteristics, volatility and risk-adjusted return of Macroaxis ideas.
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