Correlation Between ZENITH BANK and STANDARD ALLIANCE
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By analyzing existing cross correlation between ZENITH BANK PLC and STANDARD ALLIANCE INSURANCE, you can compare the effects of market volatilities on ZENITH BANK and STANDARD ALLIANCE 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 ZENITH BANK with a short position of STANDARD ALLIANCE. Check out your portfolio center. Please also check ongoing floating volatility patterns of ZENITH BANK and STANDARD ALLIANCE.
Diversification Opportunities for ZENITH BANK and STANDARD ALLIANCE
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between ZENITH and STANDARD is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding ZENITH BANK PLC and STANDARD ALLIANCE INSURANCE in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on STANDARD ALLIANCE and ZENITH 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 ZENITH BANK PLC are associated (or correlated) with STANDARD ALLIANCE. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of STANDARD ALLIANCE has no effect on the direction of ZENITH BANK i.e., ZENITH BANK and STANDARD ALLIANCE go up and down completely randomly.
Pair Corralation between ZENITH BANK and STANDARD ALLIANCE
If you would invest 2,300 in ZENITH BANK PLC on September 3, 2024 and sell it today you would earn a total of 2,150 from holding ZENITH BANK PLC or generate 93.48% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
ZENITH BANK PLC vs. STANDARD ALLIANCE INSURANCE
Performance |
| Timeline |
| ZENITH BANK PLC |
| STANDARD ALLIANCE |
ZENITH BANK and STANDARD ALLIANCE Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with ZENITH BANK and STANDARD ALLIANCE
The main advantage of trading using opposite ZENITH BANK and STANDARD ALLIANCE positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if ZENITH BANK position performs unexpectedly, STANDARD ALLIANCE 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 STANDARD ALLIANCE will offset losses from the drop in STANDARD ALLIANCE's long position.| ZENITH BANK vs. GUINEA INSURANCE PLC | ZENITH BANK vs. SECURE ELECTRONIC TECHNOLOGY | ZENITH BANK vs. AIRTEL AFRICA PLC | ZENITH BANK vs. VFD GROUP |
| STANDARD ALLIANCE vs. CONSOLIDATED HALLMARK INSURANCE | STANDARD ALLIANCE vs. SECURE ELECTRONIC TECHNOLOGY | STANDARD ALLIANCE vs. ZENITH BANK PLC | STANDARD ALLIANCE vs. INDUSTRIAL MEDICAL GASES |
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 Stock Screener module to find equities using a custom stock filter or screen asymmetry in trading patterns, price, volume, or investment outlook..
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