Correlation Between AIICO INSURANCE and AXAMANSARD INSURANCE
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By analyzing existing cross correlation between AIICO INSURANCE PLC and AXAMANSARD INSURANCE PLC, you can compare the effects of market volatilities on AIICO INSURANCE and AXAMANSARD 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 AIICO INSURANCE with a short position of AXAMANSARD INSURANCE. Check out your portfolio center. Please also check ongoing floating volatility patterns of AIICO INSURANCE and AXAMANSARD INSURANCE.
Diversification Opportunities for AIICO INSURANCE and AXAMANSARD INSURANCE
0.8 | Correlation Coefficient |
Very poor diversification
The 3 months correlation between AIICO and AXAMANSARD is 0.8. Overlapping area represents the amount of risk that can be diversified away by holding AIICO INSURANCE PLC and AXAMANSARD INSURANCE PLC in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on AXAMANSARD INSURANCE PLC 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 AXAMANSARD INSURANCE. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of AXAMANSARD INSURANCE PLC has no effect on the direction of AIICO INSURANCE i.e., AIICO INSURANCE and AXAMANSARD INSURANCE go up and down completely randomly.
Pair Corralation between AIICO INSURANCE and AXAMANSARD INSURANCE
Assuming the 90 days trading horizon AIICO INSURANCE PLC is expected to generate 0.96 times more return on investment than AXAMANSARD INSURANCE. However, AIICO INSURANCE PLC is 1.04 times less risky than AXAMANSARD INSURANCE. It trades about 0.48 of its potential returns per unit of risk. AXAMANSARD INSURANCE PLC is currently generating about 0.42 per unit of risk. If you would invest 158.00 in AIICO INSURANCE PLC on April 15, 2025 and sell it today you would earn a total of 69.00 from holding AIICO INSURANCE PLC or generate 43.67% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Strong |
| Accuracy | 100.0% |
| Values | Daily Returns |
AIICO INSURANCE PLC vs. AXAMANSARD INSURANCE PLC
Performance |
| Timeline |
| AIICO INSURANCE PLC |
| AXAMANSARD INSURANCE PLC |
AIICO INSURANCE and AXAMANSARD INSURANCE Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with AIICO INSURANCE and AXAMANSARD INSURANCE
The main advantage of trading using opposite AIICO INSURANCE and AXAMANSARD INSURANCE positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if AIICO INSURANCE position performs unexpectedly, AXAMANSARD 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 AXAMANSARD INSURANCE will offset losses from the drop in AXAMANSARD INSURANCE's long position.| AIICO INSURANCE vs. CORONATION INSURANCE PLC | AIICO INSURANCE vs. CORNERSTONE INSURANCE PLC | AIICO INSURANCE vs. UNIVERSAL INSURANCE PANY | AIICO INSURANCE vs. FORTIS GLOBAL INSURANCE |
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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 Odds Of Bankruptcy module to get analysis of equity chance of financial distress in the next 2 years.
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