Correlation Between UNION HOMES and AIICO INSURANCE
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By analyzing existing cross correlation between UNION HOMES REAL and AIICO INSURANCE PLC, you can compare the effects of market volatilities on UNION HOMES and AIICO 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 UNION HOMES with a short position of AIICO INSURANCE. Check out your portfolio center. Please also check ongoing floating volatility patterns of UNION HOMES and AIICO INSURANCE.
Diversification Opportunities for UNION HOMES and AIICO INSURANCE
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between UNION and AIICO is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding UNION HOMES REAL and AIICO INSURANCE PLC in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on AIICO INSURANCE PLC and UNION HOMES 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 UNION HOMES REAL are associated (or correlated) with AIICO INSURANCE. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of AIICO INSURANCE PLC has no effect on the direction of UNION HOMES i.e., UNION HOMES and AIICO INSURANCE go up and down completely randomly.
Pair Corralation between UNION HOMES and AIICO INSURANCE
If you would invest 152.00 in AIICO INSURANCE PLC on October 23, 2024 and sell it today you would earn a total of 9.00 from holding AIICO INSURANCE PLC or generate 5.92% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
UNION HOMES REAL vs. AIICO INSURANCE PLC
Performance |
| Timeline |
| UNION HOMES REAL |
| AIICO INSURANCE PLC |
UNION HOMES and AIICO INSURANCE Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with UNION HOMES and AIICO INSURANCE
The main advantage of trading using opposite UNION HOMES and AIICO INSURANCE positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if UNION HOMES position performs unexpectedly, AIICO 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 AIICO INSURANCE will offset losses from the drop in AIICO INSURANCE's long position.| UNION HOMES vs. STANDARD ALLIANCE INSURANCE | UNION HOMES vs. INTERNATIONAL ENERGY INSURANCE | UNION HOMES vs. MULTI TREX INTEGRATED FOODS | UNION HOMES vs. CHAMPION BREWERIES PLC |
| AIICO INSURANCE vs. ABC TRANSPORT PLC | AIICO INSURANCE vs. NEM INSURANCE PLC | AIICO INSURANCE vs. GOLDEN GUINEA BREWERIES | AIICO INSURANCE vs. UNITY BANK 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 Options Analysis module to analyze and evaluate options and option chains as a potential hedge for your portfolios.
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