Correlation Between UNIQA INSURANCE and EPSILON HEALTHCARE
Can any of the company-specific risk be diversified away by investing in both UNIQA INSURANCE and EPSILON HEALTHCARE at the same time? Although using a correlation coefficient on its own may not help to predict future stock returns, this module helps to understand the diversifiable risk of combining UNIQA INSURANCE and EPSILON HEALTHCARE into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between UNIQA INSURANCE GR and EPSILON HEALTHCARE LTD, you can compare the effects of market volatilities on UNIQA INSURANCE and EPSILON HEALTHCARE 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 UNIQA INSURANCE with a short position of EPSILON HEALTHCARE. Check out your portfolio center. Please also check ongoing floating volatility patterns of UNIQA INSURANCE and EPSILON HEALTHCARE.
Diversification Opportunities for UNIQA INSURANCE and EPSILON HEALTHCARE
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between UNIQA and EPSILON is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding UNIQA INSURANCE GR and EPSILON HEALTHCARE LTD in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on EPSILON HEALTHCARE LTD and UNIQA INSURANCE 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 UNIQA INSURANCE GR are associated (or correlated) with EPSILON HEALTHCARE. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of EPSILON HEALTHCARE LTD has no effect on the direction of UNIQA INSURANCE i.e., UNIQA INSURANCE and EPSILON HEALTHCARE go up and down completely randomly.
Pair Corralation between UNIQA INSURANCE and EPSILON HEALTHCARE
If you would invest 782.00 in UNIQA INSURANCE GR on November 7, 2024 and sell it today you would earn a total of 24.00 from holding UNIQA INSURANCE GR or generate 3.07% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 95.65% |
| Values | Daily Returns |
UNIQA INSURANCE GR vs. EPSILON HEALTHCARE LTD
Performance |
| Timeline |
| UNIQA INSURANCE GR |
| EPSILON HEALTHCARE LTD |
UNIQA INSURANCE and EPSILON HEALTHCARE Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with UNIQA INSURANCE and EPSILON HEALTHCARE
The main advantage of trading using opposite UNIQA INSURANCE and EPSILON HEALTHCARE positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if UNIQA INSURANCE position performs unexpectedly, EPSILON HEALTHCARE 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 EPSILON HEALTHCARE will offset losses from the drop in EPSILON HEALTHCARE's long position.| UNIQA INSURANCE vs. CVR Medical Corp | UNIQA INSURANCE vs. Inspire Medical Systems | UNIQA INSURANCE vs. Canon Marketing Japan | UNIQA INSURANCE vs. IMAGIN MEDICAL INC |
| EPSILON HEALTHCARE vs. Laureate Education | EPSILON HEALTHCARE vs. betterU Education Corp | EPSILON HEALTHCARE vs. EEDUCATION ALBERT AB | EPSILON HEALTHCARE vs. Mount Gibson Iron |
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 Volatility Analysis module to get historical volatility and risk analysis based on latest market data.
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