Correlation Between Altisource Asset and Cigna Corp
Can any of the company-specific risk be diversified away by investing in both Altisource Asset and Cigna Corp 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 Altisource Asset and Cigna Corp into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Altisource Asset Management and Cigna Corp, you can compare the effects of market volatilities on Altisource Asset and Cigna Corp 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 Altisource Asset with a short position of Cigna Corp. Check out your portfolio center. Please also check ongoing floating volatility patterns of Altisource Asset and Cigna Corp.
Diversification Opportunities for Altisource Asset and Cigna Corp
-0.26 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Altisource and Cigna is -0.26. Overlapping area represents the amount of risk that can be diversified away by holding Altisource Asset Management and Cigna Corp in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Cigna Corp and Altisource Asset 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 Altisource Asset Management are associated (or correlated) with Cigna Corp. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Cigna Corp has no effect on the direction of Altisource Asset i.e., Altisource Asset and Cigna Corp go up and down completely randomly.
Pair Corralation between Altisource Asset and Cigna Corp
If you would invest 26,466 in Cigna Corp on September 5, 2025 and sell it today you would earn a total of 944.00 from holding Cigna Corp or generate 3.57% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Altisource Asset Management vs. Cigna Corp
Performance |
| Timeline |
| Altisource Asset Man |
| Cigna Corp |
Altisource Asset and Cigna Corp Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Altisource Asset and Cigna Corp
The main advantage of trading using opposite Altisource Asset and Cigna Corp positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Altisource Asset position performs unexpectedly, Cigna Corp 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 Cigna Corp will offset losses from the drop in Cigna Corp's long position.| Altisource Asset vs. NVIDIA | Altisource Asset vs. Apple Inc | Altisource Asset vs. Alphabet Inc Class C | Altisource Asset vs. Microsoft |
| Cigna Corp vs. InterContinental Hotels Group | Cigna Corp vs. Hyperscale Data, | Cigna Corp vs. Public Storage DEP | Cigna Corp vs. Wyndham Hotels Resorts |
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 File Import module to quickly import all of your third-party portfolios from your local drive in csv format.
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