Correlation Between AIICO INSURANCE and ASO SAVINGS

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Can any of the company-specific risk be diversified away by investing in both AIICO INSURANCE and ASO SAVINGS 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 AIICO INSURANCE and ASO SAVINGS into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between AIICO INSURANCE PLC and ASO SAVINGS AND, you can compare the effects of market volatilities on AIICO INSURANCE and ASO SAVINGS 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 AIICO INSURANCE with a short position of ASO SAVINGS. Check out your portfolio center. Please also check ongoing floating volatility patterns of AIICO INSURANCE and ASO SAVINGS.

Diversification Opportunities for AIICO INSURANCE and ASO SAVINGS

0.0
  Correlation Coefficient

Pay attention - limited upside

The 3 months correlation between AIICO and ASO is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding AIICO INSURANCE PLC and ASO SAVINGS AND in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on ASO SAVINGS AND and AIICO 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 AIICO INSURANCE PLC are associated (or correlated) with ASO SAVINGS. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of ASO SAVINGS AND has no effect on the direction of AIICO INSURANCE i.e., AIICO INSURANCE and ASO SAVINGS go up and down completely randomly.

Pair Corralation between AIICO INSURANCE and ASO SAVINGS

If you would invest  190.00  in AIICO INSURANCE PLC on April 10, 2025 and sell it today you would lose (9.00) from holding AIICO INSURANCE PLC or give up 4.74% of portfolio value over 90 days.
Time Period3 Months [change]
DirectionFlat 
StrengthInsignificant
Accuracy100.0%
ValuesDaily Returns

AIICO INSURANCE PLC  vs.  ASO SAVINGS AND

 Performance 
       Timeline  
AIICO INSURANCE PLC 

Risk-Adjusted Performance

Good

 
Weak
 
Strong
Compared to the overall equity markets, risk-adjusted returns on investments in AIICO INSURANCE PLC are ranked lower than 12 (%) of all global equities and portfolios over the last 90 days. In spite of fairly unfluctuating fundamental indicators, AIICO INSURANCE showed solid returns over the last few months and may actually be approaching a breakup point.
ASO SAVINGS AND 

Risk-Adjusted Performance

Very Weak

 
Weak
 
Strong
Over the last 90 days ASO SAVINGS AND has generated negative risk-adjusted returns adding no value to investors with long positions. Despite fairly strong technical and fundamental indicators, ASO SAVINGS is not utilizing all of its potentials. The current stock price confusion, may contribute to short-horizon losses for the traders.

AIICO INSURANCE and ASO SAVINGS Volatility Contrast

   Predicted Return Density   
       Returns  

Pair Trading with AIICO INSURANCE and ASO SAVINGS

The main advantage of trading using opposite AIICO INSURANCE and ASO SAVINGS positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if AIICO INSURANCE position performs unexpectedly, ASO SAVINGS 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 ASO SAVINGS will offset losses from the drop in ASO SAVINGS's long position.
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The idea behind AIICO INSURANCE PLC and ASO SAVINGS AND pairs trading is to make the combined position market-neutral, meaning the overall market's direction will not affect its win or loss (or potential downside or upside). This can be achieved by designing a pairs trade with two highly correlated stocks or equities that operate in a similar space or sector, making it possible to obtain profits through simple and relatively low-risk investment.
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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 Funds Screener module to find actively-traded funds from around the world traded on over 30 global exchanges.

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