Correlation Between STANDARD ALLIANCE and GREENWICH ASSET
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By analyzing existing cross correlation between STANDARD ALLIANCE INSURANCE and GREENWICH ASSET ETF, you can compare the effects of market volatilities on STANDARD ALLIANCE and GREENWICH ASSET 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 GREENWICH ASSET. Check out your portfolio center. Please also check ongoing floating volatility patterns of STANDARD ALLIANCE and GREENWICH ASSET.
Diversification Opportunities for STANDARD ALLIANCE and GREENWICH ASSET
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between STANDARD and GREENWICH is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding STANDARD ALLIANCE INSURANCE and GREENWICH ASSET ETF in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on GREENWICH ASSET ETF 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 GREENWICH ASSET. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of GREENWICH ASSET ETF has no effect on the direction of STANDARD ALLIANCE i.e., STANDARD ALLIANCE and GREENWICH ASSET go up and down completely randomly.
Pair Corralation between STANDARD ALLIANCE and GREENWICH ASSET
If you would invest 53,400 in GREENWICH ASSET ETF on November 4, 2024 and sell it today you would lose (400.00) from holding GREENWICH ASSET ETF or give up 0.75% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
STANDARD ALLIANCE INSURANCE vs. GREENWICH ASSET ETF
Performance |
| Timeline |
| STANDARD ALLIANCE |
| GREENWICH ASSET ETF |
STANDARD ALLIANCE and GREENWICH ASSET Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with STANDARD ALLIANCE and GREENWICH ASSET
The main advantage of trading using opposite STANDARD ALLIANCE and GREENWICH ASSET positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if STANDARD ALLIANCE position performs unexpectedly, GREENWICH ASSET 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 GREENWICH ASSET will offset losses from the drop in GREENWICH ASSET's long position.| STANDARD ALLIANCE vs. GUINEA INSURANCE PLC | STANDARD ALLIANCE vs. SECURE ELECTRONIC TECHNOLOGY | STANDARD ALLIANCE vs. VFD GROUP | STANDARD ALLIANCE vs. IKEJA HOTELS 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 Analyst Advice module to analyst recommendations and target price estimates broken down by several categories.
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