Correlation Between CHUBB and Perseus Mining
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By analyzing existing cross correlation between CHUBB P 6 and Perseus Mining Limited, you can compare the effects of market volatilities on CHUBB and Perseus Mining 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 CHUBB with a short position of Perseus Mining. Check out your portfolio center. Please also check ongoing floating volatility patterns of CHUBB and Perseus Mining.
Diversification Opportunities for CHUBB and Perseus Mining
-0.03 | Correlation Coefficient |
Good diversification
The 3 months correlation between CHUBB and Perseus is -0.03. Overlapping area represents the amount of risk that can be diversified away by holding CHUBB P 6 and Perseus Mining Limited in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Perseus Mining and CHUBB 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 CHUBB P 6 are associated (or correlated) with Perseus Mining. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Perseus Mining has no effect on the direction of CHUBB i.e., CHUBB and Perseus Mining go up and down completely randomly.
Pair Corralation between CHUBB and Perseus Mining
Assuming the 90 days trading horizon CHUBB P 6 is expected to generate 0.28 times more return on investment than Perseus Mining. However, CHUBB P 6 is 3.6 times less risky than Perseus Mining. It trades about 0.28 of its potential returns per unit of risk. Perseus Mining Limited is currently generating about -0.08 per unit of risk. If you would invest 10,714 in CHUBB P 6 on September 2, 2024 and sell it today you would earn a total of 574.00 from holding CHUBB P 6 or generate 5.36% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 80.95% |
| Values | Daily Returns |
CHUBB P 6 vs. Perseus Mining Limited
Performance |
| Timeline |
| CHUBB P 6 |
| Perseus Mining |
CHUBB and Perseus Mining Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with CHUBB and Perseus Mining
The main advantage of trading using opposite CHUBB and Perseus Mining positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if CHUBB position performs unexpectedly, Perseus Mining 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 Perseus Mining will offset losses from the drop in Perseus Mining's long position.| CHUBB vs. Perseus Mining Limited | CHUBB vs. Definitive Healthcare Corp | CHUBB vs. Mangazeya Mining | CHUBB vs. Zijin Mining Group |
| Perseus Mining vs. Aurion Resources | Perseus Mining vs. Rio2 Limited | Perseus Mining vs. Palamina Corp | Perseus Mining vs. Grande Portage Resources |
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 Top Crypto Exchanges module to search and analyze digital assets across top global cryptocurrency exchanges.
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