Correlation Between UNIQA Insurance and Rosebank Industries
Can any of the company-specific risk be diversified away by investing in both UNIQA Insurance and Rosebank Industries at the same time? Although using a correlation coefficient on its own may not help to predict future stock returns, this module helps to understand the diversifiable risk of combining UNIQA Insurance and Rosebank Industries into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between UNIQA Insurance Group and Rosebank Industries PLC, you can compare the effects of market volatilities on UNIQA Insurance and Rosebank Industries 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 UNIQA Insurance with a short position of Rosebank Industries. Check out your portfolio center. Please also check ongoing floating volatility patterns of UNIQA Insurance and Rosebank Industries.
Diversification Opportunities for UNIQA Insurance and Rosebank Industries
0.46 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between UNIQA and Rosebank is 0.46. Overlapping area represents the amount of risk that can be diversified away by holding UNIQA Insurance Group and Rosebank Industries PLC in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Rosebank Industries PLC and UNIQA Insurance 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 UNIQA Insurance Group are associated (or correlated) with Rosebank Industries. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Rosebank Industries PLC has no effect on the direction of UNIQA Insurance i.e., UNIQA Insurance and Rosebank Industries go up and down completely randomly.
Pair Corralation between UNIQA Insurance and Rosebank Industries
Assuming the 90 days trading horizon UNIQA Insurance is expected to generate 2.1 times less return on investment than Rosebank Industries. But when comparing it to its historical volatility, UNIQA Insurance Group is 1.04 times less risky than Rosebank Industries. It trades about 0.04 of its potential returns per unit of risk. Rosebank Industries PLC is currently generating about 0.08 of returns per unit of risk over similar time horizon. If you would invest 31,800 in Rosebank Industries PLC on July 28, 2025 and sell it today you would earn a total of 2,000 from holding Rosebank Industries PLC or generate 6.29% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
UNIQA Insurance Group vs. Rosebank Industries PLC
Performance |
| Timeline |
| UNIQA Insurance Group |
| Rosebank Industries PLC |
UNIQA Insurance and Rosebank Industries Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with UNIQA Insurance and Rosebank Industries
The main advantage of trading using opposite UNIQA Insurance and Rosebank Industries positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if UNIQA Insurance position performs unexpectedly, Rosebank Industries 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 Rosebank Industries will offset losses from the drop in Rosebank Industries' long position.| UNIQA Insurance vs. Fiinu PLC | UNIQA Insurance vs. Neo Energy Metals | UNIQA Insurance vs. AFC Energy plc | UNIQA Insurance vs. SANTANDER UK 10 |
| Rosebank Industries vs. Ithaca Energy PLC | Rosebank Industries vs. Harbour Energy PLC | Rosebank Industries vs. Energean Oil Gas | Rosebank Industries vs. Serica Energy PLC |
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 Theme Ratings module to determine theme ratings based on digital equity recommendations. Macroaxis theme ratings are based on combination of fundamental analysis and risk-adjusted market performance.
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