Correlation Between STANDARD ALLIANCE and MULTI TREX
Specify exactly 2 symbols:
By analyzing existing cross correlation between STANDARD ALLIANCE INSURANCE and MULTI TREX INTEGRATED FOODS, you can compare the effects of market volatilities on STANDARD ALLIANCE and MULTI TREX 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 MULTI TREX. Check out your portfolio center. Please also check ongoing floating volatility patterns of STANDARD ALLIANCE and MULTI TREX.
Diversification Opportunities for STANDARD ALLIANCE and MULTI TREX
1.0 | Correlation Coefficient |
No risk reduction
The 3 months correlation between STANDARD and MULTI is 1.0. Overlapping area represents the amount of risk that can be diversified away by holding STANDARD ALLIANCE INSURANCE and MULTI TREX INTEGRATED FOODS in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on MULTI TREX INTEGRATED 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 MULTI TREX. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of MULTI TREX INTEGRATED has no effect on the direction of STANDARD ALLIANCE i.e., STANDARD ALLIANCE and MULTI TREX go up and down completely randomly.
Pair Corralation between STANDARD ALLIANCE and MULTI TREX
If you would invest 36.00 in MULTI TREX INTEGRATED FOODS on December 12, 2024 and sell it today you would earn a total of 0.00 from holding MULTI TREX INTEGRATED FOODS 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. MULTI TREX INTEGRATED FOODS
Performance |
| Timeline |
| STANDARD ALLIANCE |
| MULTI TREX INTEGRATED |
STANDARD ALLIANCE and MULTI TREX Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with STANDARD ALLIANCE and MULTI TREX
The main advantage of trading using opposite STANDARD ALLIANCE and MULTI TREX positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if STANDARD ALLIANCE position performs unexpectedly, MULTI TREX 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 MULTI TREX will offset losses from the drop in MULTI TREX's long position.| STANDARD ALLIANCE vs. CHAMPION BREWERIES PLC | ||
| STANDARD ALLIANCE vs. JAIZ BANK PLC | ||
| STANDARD ALLIANCE vs. AXAMANSARD INSURANCE PLC | ||
| STANDARD ALLIANCE vs. UNITED BANK FOR |
| MULTI TREX vs. NOTORE CHEMICAL IND | ||
| MULTI TREX vs. NEM INSURANCE PLC | ||
| MULTI TREX vs. STANDARD ALLIANCE INSURANCE | ||
| MULTI TREX vs. CORNERSTONE INSURANCE PLC |
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 Portfolio Backtesting module to avoid under-diversification and over-optimization by backtesting your portfolios.
Other Complementary Tools
| My Watchlist Analysis Analyze my current watchlist and to refresh optimization strategy. Macroaxis watchlist is based on self-learning algorithm to remember stocks you like | |
| Efficient Frontier Plot and analyze your portfolio and positions against risk-return landscape of the market. | |
| USA ETFs Find actively traded Exchange Traded Funds (ETF) in USA | |
| Latest Portfolios Quick portfolio dashboard that showcases your latest portfolios | |
| Stock Tickers Use high-impact, comprehensive, and customizable stock tickers that can be easily integrated to any websites |