Correlation Between AIICO INSURANCE and CONSOLIDATED HALLMARK
Specify exactly 2 symbols:
By analyzing existing cross correlation between AIICO INSURANCE PLC and CONSOLIDATED HALLMARK INSURANCE, you can compare the effects of market volatilities on AIICO INSURANCE and CONSOLIDATED HALLMARK 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 CONSOLIDATED HALLMARK. Check out your portfolio center. Please also check ongoing floating volatility patterns of AIICO INSURANCE and CONSOLIDATED HALLMARK.
Diversification Opportunities for AIICO INSURANCE and CONSOLIDATED HALLMARK
0.61 | Correlation Coefficient |
Poor diversification
The 3 months correlation between AIICO and CONSOLIDATED is 0.61. Overlapping area represents the amount of risk that can be diversified away by holding AIICO INSURANCE PLC and CONSOLIDATED HALLMARK INSURANC in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on CONSOLIDATED HALLMARK 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 CONSOLIDATED HALLMARK. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of CONSOLIDATED HALLMARK has no effect on the direction of AIICO INSURANCE i.e., AIICO INSURANCE and CONSOLIDATED HALLMARK go up and down completely randomly.
Pair Corralation between AIICO INSURANCE and CONSOLIDATED HALLMARK
Assuming the 90 days trading horizon AIICO INSURANCE PLC is expected to generate 0.91 times more return on investment than CONSOLIDATED HALLMARK. However, AIICO INSURANCE PLC is 1.09 times less risky than CONSOLIDATED HALLMARK. It trades about 0.18 of its potential returns per unit of risk. CONSOLIDATED HALLMARK INSURANCE is currently generating about 0.05 per unit of risk. If you would invest 161.00 in AIICO INSURANCE PLC on April 28, 2025 and sell it today you would earn a total of 61.00 from holding AIICO INSURANCE PLC or generate 37.89% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Significant |
| Accuracy | 100.0% |
| Values | Daily Returns |
AIICO INSURANCE PLC vs. CONSOLIDATED HALLMARK INSURANC
Performance |
| Timeline |
| AIICO INSURANCE PLC |
| CONSOLIDATED HALLMARK |
AIICO INSURANCE and CONSOLIDATED HALLMARK Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with AIICO INSURANCE and CONSOLIDATED HALLMARK
The main advantage of trading using opposite AIICO INSURANCE and CONSOLIDATED HALLMARK positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if AIICO INSURANCE position performs unexpectedly, CONSOLIDATED HALLMARK 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 CONSOLIDATED HALLMARK will offset losses from the drop in CONSOLIDATED HALLMARK's long position.| AIICO INSURANCE vs. WEMA BANK PLC | AIICO INSURANCE vs. BUA FOODS PLC | AIICO INSURANCE vs. CORNERSTONE INSURANCE PLC | AIICO INSURANCE vs. CORONATION INSURANCE PLC |
| CONSOLIDATED HALLMARK vs. CORONATION INSURANCE PLC | CONSOLIDATED HALLMARK vs. STERLING FINANCIAL HOLDINGS | CONSOLIDATED HALLMARK vs. UNITED BANK FOR | CONSOLIDATED HALLMARK vs. INDUSTRIAL MEDICAL GASES |
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 Watchlist Optimization module to optimize watchlists to build efficient portfolios or rebalance existing positions based on the mean-variance optimization algorithm.
Other Complementary Tools
| Earnings Calls Check upcoming earnings announcements updated hourly across public exchanges | |
| Portfolio Backtesting Avoid under-diversification and over-optimization by backtesting your portfolios | |
| Share Portfolio Track or share privately all of your investments from the convenience of any device | |
| Sync Your Broker Sync your existing holdings, watchlists, positions or portfolios from thousands of online brokerage services, banks, investment account aggregators and robo-advisors. | |
| Commodity Channel Use Commodity Channel Index to analyze current equity momentum |