Correlation Between UNITY BANK and C I
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By analyzing existing cross correlation between UNITY BANK PLC and C I LEASING, you can compare the effects of market volatilities on UNITY BANK and C I 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 UNITY BANK with a short position of C I. Check out your portfolio center. Please also check ongoing floating volatility patterns of UNITY BANK and C I.
Diversification Opportunities for UNITY BANK and C I
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between UNITY and CILEASING is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding UNITY BANK PLC and C I LEASING in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on C I LEASING and UNITY BANK 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 UNITY BANK PLC are associated (or correlated) with C I. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of C I LEASING has no effect on the direction of UNITY BANK i.e., UNITY BANK and C I go up and down completely randomly.
Pair Corralation between UNITY BANK and C I
If you would invest 414.00 in C I LEASING on October 11, 2024 and sell it today you would lose (4.00) from holding C I LEASING or give up 0.97% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
UNITY BANK PLC vs. C I LEASING
Performance |
| Timeline |
| UNITY BANK PLC |
| C I LEASING |
UNITY BANK and C I Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with UNITY BANK and C I
The main advantage of trading using opposite UNITY BANK and C I positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if UNITY BANK position performs unexpectedly, C I 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 C I will offset losses from the drop in C I's long position.| UNITY BANK vs. CHAMPION BREWERIES PLC | UNITY BANK vs. STACO INSURANCE PLC | UNITY BANK vs. ABBEY MORTGAGE BANK | UNITY BANK vs. NEM INSURANCE PLC |
| C I vs. NEM INSURANCE PLC | C I vs. UNITY BANK PLC | C I vs. STACO INSURANCE PLC | C I vs. AIICO 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 Financial Widgets module to easily integrated Macroaxis content with over 30 different plug-and-play financial widgets.
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