Correlation Between TRAVELERS and Asure Software
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By analyzing existing cross correlation between TRAVELERS INS GROUP and Asure Software, you can compare the effects of market volatilities on TRAVELERS and Asure Software 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 TRAVELERS with a short position of Asure Software. Check out your portfolio center. Please also check ongoing floating volatility patterns of TRAVELERS and Asure Software.
Diversification Opportunities for TRAVELERS and Asure Software
0.1 | Correlation Coefficient |
Average diversification
The 3 months correlation between TRAVELERS and Asure is 0.1. Overlapping area represents the amount of risk that can be diversified away by holding TRAVELERS INS GROUP and Asure Software in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Asure Software and TRAVELERS 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 TRAVELERS INS GROUP are associated (or correlated) with Asure Software. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Asure Software has no effect on the direction of TRAVELERS i.e., TRAVELERS and Asure Software go up and down completely randomly.
Pair Corralation between TRAVELERS and Asure Software
Assuming the 90 days trading horizon TRAVELERS INS GROUP is expected to under-perform the Asure Software. But the bond apears to be less risky and, when comparing its historical volatility, TRAVELERS INS GROUP is 4.7 times less risky than Asure Software. The bond trades about 0.0 of its potential returns per unit of risk. The Asure Software is currently generating about 0.03 of returns per unit of risk over similar time horizon. If you would invest 856.00 in Asure Software on September 14, 2024 and sell it today you would earn a total of 103.00 from holding Asure Software or generate 12.03% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 53.41% |
| Values | Daily Returns |
TRAVELERS INS GROUP vs. Asure Software
Performance |
| Timeline |
| TRAVELERS INS GROUP |
| Asure Software |
TRAVELERS and Asure Software Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with TRAVELERS and Asure Software
The main advantage of trading using opposite TRAVELERS and Asure Software positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if TRAVELERS position performs unexpectedly, Asure Software 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 Asure Software will offset losses from the drop in Asure Software's long position.| TRAVELERS vs. AEP TEX INC | TRAVELERS vs. US BANK NATIONAL | TRAVELERS vs. Recursion Pharmaceuticals | TRAVELERS vs. SoundHound AI |
| Asure Software vs. Dave Warrants | Asure Software vs. Swvl Holdings Corp | Asure Software vs. Guardforce AI Co | Asure Software vs. Thayer Ventures Acquisition |
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 Companies Directory module to evaluate performance of over 100,000 Stocks, Funds, and ETFs against different fundamentals.
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