Correlation Between GENERAL and Siriuspoint
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By analyzing existing cross correlation between GENERAL ELEC CAP and Siriuspoint, you can compare the effects of market volatilities on GENERAL and Siriuspoint 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 GENERAL with a short position of Siriuspoint. Check out your portfolio center. Please also check ongoing floating volatility patterns of GENERAL and Siriuspoint.
Diversification Opportunities for GENERAL and Siriuspoint
-0.36 | Correlation Coefficient |
Very good diversification
The 3 months correlation between GENERAL and Siriuspoint is -0.36. Overlapping area represents the amount of risk that can be diversified away by holding GENERAL ELEC CAP and Siriuspoint in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Siriuspoint and GENERAL 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 GENERAL ELEC CAP are associated (or correlated) with Siriuspoint. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Siriuspoint has no effect on the direction of GENERAL i.e., GENERAL and Siriuspoint go up and down completely randomly.
Pair Corralation between GENERAL and Siriuspoint
Assuming the 90 days trading horizon GENERAL ELEC CAP is expected to under-perform the Siriuspoint. But the bond apears to be less risky and, when comparing its historical volatility, GENERAL ELEC CAP is 2.68 times less risky than Siriuspoint. The bond trades about -0.14 of its potential returns per unit of risk. The Siriuspoint is currently generating about 0.25 of returns per unit of risk over similar time horizon. If you would invest 1,359 in Siriuspoint on August 27, 2024 and sell it today you would earn a total of 199.00 from holding Siriuspoint or generate 14.64% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 57.14% |
| Values | Daily Returns |
GENERAL ELEC CAP vs. Siriuspoint
Performance |
| Timeline |
| GENERAL ELEC CAP |
| Siriuspoint |
GENERAL and Siriuspoint Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with GENERAL and Siriuspoint
The main advantage of trading using opposite GENERAL and Siriuspoint positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if GENERAL position performs unexpectedly, Siriuspoint 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 Siriuspoint will offset losses from the drop in Siriuspoint's long position.| GENERAL vs. Siriuspoint | GENERAL vs. Teleflex Incorporated | GENERAL vs. Chiba Bank Ltd | GENERAL vs. AmTrust Financial Services |
| Siriuspoint vs. Maiden Holdings | Siriuspoint vs. Reinsurance Group of | Siriuspoint vs. Oxbridge Re Holdings | Siriuspoint vs. Greenlight Capital Re |
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 Portfolio Center module to all portfolio management and optimization tools to improve performance of your portfolios.
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