Correlation Between ALUMINIUM EXTRUSION and CONSOLIDATED HALLMARK
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By analyzing existing cross correlation between ALUMINIUM EXTRUSION IND and CONSOLIDATED HALLMARK HOLDINGS, you can compare the effects of market volatilities on ALUMINIUM EXTRUSION 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 ALUMINIUM EXTRUSION with a short position of CONSOLIDATED HALLMARK. Check out your portfolio center. Please also check ongoing floating volatility patterns of ALUMINIUM EXTRUSION and CONSOLIDATED HALLMARK.
Diversification Opportunities for ALUMINIUM EXTRUSION and CONSOLIDATED HALLMARK
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between ALUMINIUM and CONSOLIDATED is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding ALUMINIUM EXTRUSION IND and CONSOLIDATED HALLMARK HOLDINGS in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on CONSOLIDATED HALLMARK and ALUMINIUM EXTRUSION 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 ALUMINIUM EXTRUSION IND 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 ALUMINIUM EXTRUSION i.e., ALUMINIUM EXTRUSION and CONSOLIDATED HALLMARK go up and down completely randomly.
Pair Corralation between ALUMINIUM EXTRUSION and CONSOLIDATED HALLMARK
If you would invest 301.00 in CONSOLIDATED HALLMARK HOLDINGS on May 23, 2025 and sell it today you would earn a total of 134.00 from holding CONSOLIDATED HALLMARK HOLDINGS or generate 44.52% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
ALUMINIUM EXTRUSION IND vs. CONSOLIDATED HALLMARK HOLDINGS
Performance |
| Timeline |
| ALUMINIUM EXTRUSION IND |
| CONSOLIDATED HALLMARK |
ALUMINIUM EXTRUSION and CONSOLIDATED HALLMARK Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with ALUMINIUM EXTRUSION and CONSOLIDATED HALLMARK
The main advantage of trading using opposite ALUMINIUM EXTRUSION and CONSOLIDATED HALLMARK positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if ALUMINIUM EXTRUSION 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.| ALUMINIUM EXTRUSION vs. GUINEA INSURANCE PLC | ALUMINIUM EXTRUSION vs. VITAFOAM NIGERIA PLC | ALUMINIUM EXTRUSION vs. SECURE ELECTRONIC TECHNOLOGY | ALUMINIUM EXTRUSION vs. UPDC PLC |
| CONSOLIDATED HALLMARK vs. NEM INSURANCE PLC | CONSOLIDATED HALLMARK vs. STERLING FINANCIAL HOLDINGS | CONSOLIDATED HALLMARK vs. UNITED BANK FOR | CONSOLIDATED HALLMARK vs. MULTI TREX INTEGRATED FOODS |
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 Portfolio Comparator module to compare the composition, asset allocations and performance of any two portfolios in your account.
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