Correlation Between 90345WAD6 and Aspen Insurance
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By analyzing existing cross correlation between AAL 4625 03 JUN 25 and Aspen Insurance Holdings, you can compare the effects of market volatilities on 90345WAD6 and Aspen Insurance 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 90345WAD6 with a short position of Aspen Insurance. Check out your portfolio center. Please also check ongoing floating volatility patterns of 90345WAD6 and Aspen Insurance.
Diversification Opportunities for 90345WAD6 and Aspen Insurance
-0.13 | Correlation Coefficient |
Good diversification
The 3 months correlation between 90345WAD6 and Aspen is -0.13. Overlapping area represents the amount of risk that can be diversified away by holding AAL 4625 03 JUN 25 and Aspen Insurance Holdings in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Aspen Insurance Holdings and 90345WAD6 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 AAL 4625 03 JUN 25 are associated (or correlated) with Aspen Insurance. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Aspen Insurance Holdings has no effect on the direction of 90345WAD6 i.e., 90345WAD6 and Aspen Insurance go up and down completely randomly.
Pair Corralation between 90345WAD6 and Aspen Insurance
Assuming the 90 days trading horizon AAL 4625 03 JUN 25 is expected to under-perform the Aspen Insurance. In addition to that, 90345WAD6 is 1.8 times more volatile than Aspen Insurance Holdings. It trades about -0.03 of its total potential returns per unit of risk. Aspen Insurance Holdings is currently generating about 0.07 per unit of volatility. If you would invest 1,983 in Aspen Insurance Holdings on September 3, 2024 and sell it today you would earn a total of 225.00 from holding Aspen Insurance Holdings or generate 11.35% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 33.56% |
| Values | Daily Returns |
AAL 4625 03 JUN 25 vs. Aspen Insurance Holdings
Performance |
| Timeline |
| AAL 4625 03 |
| Aspen Insurance Holdings |
90345WAD6 and Aspen Insurance Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with 90345WAD6 and Aspen Insurance
The main advantage of trading using opposite 90345WAD6 and Aspen Insurance positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if 90345WAD6 position performs unexpectedly, Aspen Insurance 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 Aspen Insurance will offset losses from the drop in Aspen Insurance's long position.| 90345WAD6 vs. Aspen Insurance Holdings | 90345WAD6 vs. Sphere Entertainment Co | 90345WAD6 vs. Palomar Holdings | 90345WAD6 vs. Assurant |
| Aspen Insurance vs. Aspen Insurance Holdings | Aspen Insurance vs. Selective Insurance Group | Aspen Insurance vs. The Allstate | Aspen Insurance vs. AmTrust Financial Services |
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 Latest Portfolios module to quick portfolio dashboard that showcases your latest portfolios.
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