Correlation Between AFRICAN ALLIANCE and GOLDEN GUINEA
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By analyzing existing cross correlation between AFRICAN ALLIANCE INSURANCE and GOLDEN GUINEA BREWERIES, you can compare the effects of market volatilities on AFRICAN ALLIANCE and GOLDEN GUINEA 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 AFRICAN ALLIANCE with a short position of GOLDEN GUINEA. Check out your portfolio center. Please also check ongoing floating volatility patterns of AFRICAN ALLIANCE and GOLDEN GUINEA.
Diversification Opportunities for AFRICAN ALLIANCE and GOLDEN GUINEA
-1.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between AFRICAN and GOLDEN is -1.0. Overlapping area represents the amount of risk that can be diversified away by holding AFRICAN ALLIANCE INSURANCE and GOLDEN GUINEA BREWERIES in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on GOLDEN GUINEA BREWERIES and AFRICAN ALLIANCE 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 AFRICAN ALLIANCE INSURANCE are associated (or correlated) with GOLDEN GUINEA. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of GOLDEN GUINEA BREWERIES has no effect on the direction of AFRICAN ALLIANCE i.e., AFRICAN ALLIANCE and GOLDEN GUINEA go up and down completely randomly.
Pair Corralation between AFRICAN ALLIANCE and GOLDEN GUINEA
If you would invest 710.00 in GOLDEN GUINEA BREWERIES on July 21, 2025 and sell it today you would earn a total of 0.00 from holding GOLDEN GUINEA BREWERIES or generate 0.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Strong |
| Accuracy | 100.0% |
| Values | Daily Returns |
AFRICAN ALLIANCE INSURANCE vs. GOLDEN GUINEA BREWERIES
Performance |
| Timeline |
| AFRICAN ALLIANCE INS |
| GOLDEN GUINEA BREWERIES |
AFRICAN ALLIANCE and GOLDEN GUINEA Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with AFRICAN ALLIANCE and GOLDEN GUINEA
The main advantage of trading using opposite AFRICAN ALLIANCE and GOLDEN GUINEA positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if AFRICAN ALLIANCE position performs unexpectedly, GOLDEN GUINEA 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 GOLDEN GUINEA will offset losses from the drop in GOLDEN GUINEA's long position.| AFRICAN ALLIANCE vs. NEM INSURANCE PLC | AFRICAN ALLIANCE vs. STACO INSURANCE PLC | AFRICAN ALLIANCE vs. ASO SAVINGS AND | AFRICAN ALLIANCE vs. FORTIS GLOBAL INSURANCE |
| GOLDEN GUINEA vs. GUINEA INSURANCE PLC | GOLDEN GUINEA vs. SECURE ELECTRONIC TECHNOLOGY | GOLDEN GUINEA vs. FORTIS GLOBAL INSURANCE | GOLDEN GUINEA vs. CHELLARAMS 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 Content Syndication module to quickly integrate customizable finance content to your own investment portal.
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