Correlation Between AFRICAN ALLIANCE and STACO INSURANCE
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By analyzing existing cross correlation between AFRICAN ALLIANCE INSURANCE and STACO INSURANCE PLC, you can compare the effects of market volatilities on AFRICAN ALLIANCE and STACO 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 AFRICAN ALLIANCE with a short position of STACO INSURANCE. Check out your portfolio center. Please also check ongoing floating volatility patterns of AFRICAN ALLIANCE and STACO INSURANCE.
Diversification Opportunities for AFRICAN ALLIANCE and STACO INSURANCE
-1.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between AFRICAN and STACO is -1.0. Overlapping area represents the amount of risk that can be diversified away by holding AFRICAN ALLIANCE INSURANCE and STACO INSURANCE PLC in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on STACO INSURANCE PLC 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 STACO INSURANCE. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of STACO INSURANCE PLC has no effect on the direction of AFRICAN ALLIANCE i.e., AFRICAN ALLIANCE and STACO INSURANCE go up and down completely randomly.
Pair Corralation between AFRICAN ALLIANCE and STACO INSURANCE
If you would invest 48.00 in STACO INSURANCE PLC on June 12, 2025 and sell it today you would earn a total of 0.00 from holding STACO INSURANCE PLC 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. STACO INSURANCE PLC
Performance |
| Timeline |
| AFRICAN ALLIANCE INS |
| STACO INSURANCE PLC |
AFRICAN ALLIANCE and STACO INSURANCE Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with AFRICAN ALLIANCE and STACO INSURANCE
The main advantage of trading using opposite AFRICAN ALLIANCE and STACO INSURANCE positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if AFRICAN ALLIANCE position performs unexpectedly, STACO 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 STACO INSURANCE will offset losses from the drop in STACO INSURANCE's long position.| AFRICAN ALLIANCE vs. GUINEA INSURANCE PLC | AFRICAN ALLIANCE vs. ALUMINIUM EXTRUSION IND | AFRICAN ALLIANCE vs. VITAFOAM NIGERIA PLC | AFRICAN ALLIANCE vs. JAPAUL OIL MARITIME |
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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 Equity Analysis module to research over 250,000 global equities including funds, stocks and ETFs to find investment opportunities.
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