Correlation Between STANDARD ALLIANCE and UNION HOMES
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By analyzing existing cross correlation between STANDARD ALLIANCE INSURANCE and UNION HOMES REAL, you can compare the effects of market volatilities on STANDARD ALLIANCE and UNION HOMES 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 UNION HOMES. Check out your portfolio center. Please also check ongoing floating volatility patterns of STANDARD ALLIANCE and UNION HOMES.
Diversification Opportunities for STANDARD ALLIANCE and UNION HOMES
1.0 | Correlation Coefficient |
No risk reduction
The 3 months correlation between STANDARD and UNION is 1.0. Overlapping area represents the amount of risk that can be diversified away by holding STANDARD ALLIANCE INSURANCE and UNION HOMES REAL in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on UNION HOMES REAL 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 UNION HOMES. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of UNION HOMES REAL has no effect on the direction of STANDARD ALLIANCE i.e., STANDARD ALLIANCE and UNION HOMES go up and down completely randomly.
Pair Corralation between STANDARD ALLIANCE and UNION HOMES
If you would invest 3,660 in UNION HOMES REAL on September 1, 2024 and sell it today you would earn a total of 0.00 from holding UNION HOMES REAL 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. UNION HOMES REAL
Performance |
| Timeline |
| STANDARD ALLIANCE |
| UNION HOMES REAL |
STANDARD ALLIANCE and UNION HOMES Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with STANDARD ALLIANCE and UNION HOMES
The main advantage of trading using opposite STANDARD ALLIANCE and UNION HOMES positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if STANDARD ALLIANCE position performs unexpectedly, UNION HOMES 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 UNION HOMES will offset losses from the drop in UNION HOMES's long position.| STANDARD ALLIANCE vs. SECURE ELECTRONIC TECHNOLOGY | STANDARD ALLIANCE vs. VFD GROUP | STANDARD ALLIANCE vs. AFROMEDIA PLC | STANDARD ALLIANCE vs. DEAP CAPITAL MANAGEMENT |
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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 Sync Your Broker module to sync your existing holdings, watchlists, positions or portfolios from thousands of online brokerage services, banks, investment account aggregators and robo-advisors..
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