Correlation Between ACS Global and AMERISAFE
Can any of the company-specific risk be diversified away by investing in both ACS Global and AMERISAFE 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 ACS Global and AMERISAFE into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between ACS Global and AMERISAFE, you can compare the effects of market volatilities on ACS Global and AMERISAFE 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 ACS Global with a short position of AMERISAFE. Check out your portfolio center. Please also check ongoing floating volatility patterns of ACS Global and AMERISAFE.
Diversification Opportunities for ACS Global and AMERISAFE
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between ACS and AMERISAFE is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding ACS Global and AMERISAFE in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on AMERISAFE and ACS Global 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 ACS Global are associated (or correlated) with AMERISAFE. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of AMERISAFE has no effect on the direction of ACS Global i.e., ACS Global and AMERISAFE go up and down completely randomly.
Pair Corralation between ACS Global and AMERISAFE
If you would invest 4,526 in AMERISAFE on June 9, 2025 and sell it today you would earn a total of 61.00 from holding AMERISAFE or generate 1.35% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 0.0% |
| Values | Daily Returns |
ACS Global vs. AMERISAFE
Performance |
| Timeline |
| ACS Global |
Risk-Adjusted Performance
Weakest
Weak | Strong |
| AMERISAFE |
ACS Global and AMERISAFE Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with ACS Global and AMERISAFE
The main advantage of trading using opposite ACS Global and AMERISAFE positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if ACS Global position performs unexpectedly, AMERISAFE 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 AMERISAFE will offset losses from the drop in AMERISAFE's long position.| ACS Global vs. Canaf Investments | ACS Global vs. Evergy, | ACS Global vs. NorthWestern | ACS Global vs. Alternative Investment |
| AMERISAFE vs. Ambac Financial Group | AMERISAFE vs. Employers Holdings | AMERISAFE vs. James River Group | AMERISAFE vs. Assured Guaranty |
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 Money Managers module to screen money managers from public funds and ETFs managed around the world.
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