Correlation Between Bank of Ireland and Huntington Bancshares
Can any of the company-specific risk be diversified away by investing in both Bank of Ireland and Huntington Bancshares 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 Bank of Ireland and Huntington Bancshares into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Bank of Ireland and Huntington Bancshares Incorporated, you can compare the effects of market volatilities on Bank of Ireland and Huntington Bancshares 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 Bank of Ireland with a short position of Huntington Bancshares. Check out your portfolio center. Please also check ongoing floating volatility patterns of Bank of Ireland and Huntington Bancshares.
Diversification Opportunities for Bank of Ireland and Huntington Bancshares
-0.62 | Correlation Coefficient |
Excellent diversification
The 3 months correlation between Bank and Huntington is -0.62. Overlapping area represents the amount of risk that can be diversified away by holding Bank of Ireland and Huntington Bancshares Incorpor in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Huntington Bancshares and Bank of Ireland 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 Bank of Ireland are associated (or correlated) with Huntington Bancshares. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Huntington Bancshares has no effect on the direction of Bank of Ireland i.e., Bank of Ireland and Huntington Bancshares go up and down completely randomly.
Pair Corralation between Bank of Ireland and Huntington Bancshares
Assuming the 90 days trading horizon Bank of Ireland is expected to generate 1.35 times more return on investment than Huntington Bancshares. However, Bank of Ireland is 1.35 times more volatile than Huntington Bancshares Incorporated. It trades about 0.2 of its potential returns per unit of risk. Huntington Bancshares Incorporated is currently generating about -0.06 per unit of risk. If you would invest 1,247 in Bank of Ireland on September 2, 2025 and sell it today you would earn a total of 371.00 from holding Bank of Ireland or generate 29.75% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Weak |
| Accuracy | 98.48% |
| Values | Daily Returns |
Bank of Ireland vs. Huntington Bancshares Incorpor
Performance |
| Timeline |
| Bank of Ireland |
| Huntington Bancshares |
Bank of Ireland and Huntington Bancshares Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Bank of Ireland and Huntington Bancshares
The main advantage of trading using opposite Bank of Ireland and Huntington Bancshares positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Bank of Ireland position performs unexpectedly, Huntington Bancshares 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 Huntington Bancshares will offset losses from the drop in Huntington Bancshares' long position.| Bank of Ireland vs. Sartorius Stedim Biotech | Bank of Ireland vs. Aptitude Software Group | Bank of Ireland vs. Evolution Gaming Group | Bank of Ireland vs. Charter Communications Cl |
| Huntington Bancshares vs. Zane Interactive Publishing | Huntington Bancshares vs. Bright Scholar Education | Huntington Bancshares vs. Strategic Education | Huntington Bancshares vs. China Education Resources |
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 Balance Of Power module to check stock momentum by analyzing Balance Of Power indicator and other technical ratios.
Other Complementary Tools
| ETF Categories List of ETF categories grouped based on various criteria, such as the investment strategy or type of investments | |
| My Watchlist Analysis Analyze my current watchlist and to refresh optimization strategy. Macroaxis watchlist is based on self-learning algorithm to remember stocks you like | |
| Equity Analysis Research over 250,000 global equities including funds, stocks and ETFs to find investment opportunities | |
| Equity Valuation Check real value of public entities based on technical and fundamental data | |
| Portfolio Diagnostics Use generated alerts and portfolio events aggregator to diagnose current holdings |