Correlation Between STANDARD ALLIANCE and TOTALENERGIES MARKETING
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By analyzing existing cross correlation between STANDARD ALLIANCE INSURANCE and TOTALENERGIES MARKETING NIGERIA, you can compare the effects of market volatilities on STANDARD ALLIANCE and TOTALENERGIES MARKETING 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 TOTALENERGIES MARKETING. Check out your portfolio center. Please also check ongoing floating volatility patterns of STANDARD ALLIANCE and TOTALENERGIES MARKETING.
Diversification Opportunities for STANDARD ALLIANCE and TOTALENERGIES MARKETING
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between STANDARD and TOTALENERGIES is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding STANDARD ALLIANCE INSURANCE and TOTALENERGIES MARKETING NIGERI in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on TOTALENERGIES MARKETING 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 TOTALENERGIES MARKETING. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of TOTALENERGIES MARKETING has no effect on the direction of STANDARD ALLIANCE i.e., STANDARD ALLIANCE and TOTALENERGIES MARKETING go up and down completely randomly.
Pair Corralation between STANDARD ALLIANCE and TOTALENERGIES MARKETING
If you would invest 18,353 in TOTALENERGIES MARKETING NIGERIA on November 5, 2024 and sell it today you would earn a total of 48,647 from holding TOTALENERGIES MARKETING NIGERIA or generate 265.06% 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. TOTALENERGIES MARKETING NIGERI
Performance |
| Timeline |
| STANDARD ALLIANCE |
| TOTALENERGIES MARKETING |
STANDARD ALLIANCE and TOTALENERGIES MARKETING Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with STANDARD ALLIANCE and TOTALENERGIES MARKETING
The main advantage of trading using opposite STANDARD ALLIANCE and TOTALENERGIES MARKETING positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if STANDARD ALLIANCE position performs unexpectedly, TOTALENERGIES MARKETING 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 TOTALENERGIES MARKETING will offset losses from the drop in TOTALENERGIES MARKETING's long position.| STANDARD ALLIANCE vs. STACO INSURANCE PLC | STANDARD ALLIANCE vs. UNION HOMES SAVINGS | STANDARD ALLIANCE vs. WEMA BANK PLC | STANDARD ALLIANCE vs. NEM INSURANCE PLC |
| TOTALENERGIES MARKETING vs. STANDARD ALLIANCE INSURANCE | TOTALENERGIES MARKETING vs. FIDELITY BANK PLC | TOTALENERGIES MARKETING vs. AIICO INSURANCE PLC | TOTALENERGIES MARKETING vs. NEM 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 Equity Analysis module to research over 250,000 global equities including funds, stocks and ETFs to find investment opportunities.
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