Correlation Between AIICO INSURANCE and JAPAUL OIL
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By analyzing existing cross correlation between AIICO INSURANCE PLC and JAPAUL OIL MARITIME, you can compare the effects of market volatilities on AIICO INSURANCE and JAPAUL OIL 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 JAPAUL OIL. Check out your portfolio center. Please also check ongoing floating volatility patterns of AIICO INSURANCE and JAPAUL OIL.
Diversification Opportunities for AIICO INSURANCE and JAPAUL OIL
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between AIICO and JAPAUL is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding AIICO INSURANCE PLC and JAPAUL OIL MARITIME in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on JAPAUL OIL MARITIME 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 JAPAUL OIL. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of JAPAUL OIL MARITIME has no effect on the direction of AIICO INSURANCE i.e., AIICO INSURANCE and JAPAUL OIL go up and down completely randomly.
Pair Corralation between AIICO INSURANCE and JAPAUL OIL
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 | Flat |
| Strength | Insignificant |
| Accuracy | 1.64% |
| Values | Daily Returns |
AIICO INSURANCE PLC vs. JAPAUL OIL MARITIME
Performance |
| Timeline |
| AIICO INSURANCE PLC |
| JAPAUL OIL MARITIME |
Risk-Adjusted Performance
Very Weak
Weak | Strong |
AIICO INSURANCE and JAPAUL OIL Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with AIICO INSURANCE and JAPAUL OIL
The main advantage of trading using opposite AIICO INSURANCE and JAPAUL OIL positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if AIICO INSURANCE position performs unexpectedly, JAPAUL OIL 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 JAPAUL OIL will offset losses from the drop in JAPAUL OIL's long position.| AIICO INSURANCE vs. TOTALENERGIES MARKETING NIGERIA | AIICO INSURANCE vs. CORNERSTONE INSURANCE PLC | AIICO INSURANCE vs. MULTI TREX INTEGRATED FOODS | AIICO INSURANCE vs. NEM INSURANCE PLC |
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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 Stocks Directory module to find actively traded stocks across global markets.
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