Correlation Between CONSOLIDATED HALLMARK and AIRTEL AFRICA
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By analyzing existing cross correlation between CONSOLIDATED HALLMARK HOLDINGS and AIRTEL AFRICA PLC, you can compare the effects of market volatilities on CONSOLIDATED HALLMARK and AIRTEL AFRICA 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 CONSOLIDATED HALLMARK with a short position of AIRTEL AFRICA. Check out your portfolio center. Please also check ongoing floating volatility patterns of CONSOLIDATED HALLMARK and AIRTEL AFRICA.
Diversification Opportunities for CONSOLIDATED HALLMARK and AIRTEL AFRICA
-0.08 | Correlation Coefficient |
Good diversification
The 3 months correlation between CONSOLIDATED and AIRTEL is -0.08. Overlapping area represents the amount of risk that can be diversified away by holding CONSOLIDATED HALLMARK HOLDINGS and AIRTEL AFRICA PLC in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on AIRTEL AFRICA PLC and CONSOLIDATED HALLMARK 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 CONSOLIDATED HALLMARK HOLDINGS are associated (or correlated) with AIRTEL AFRICA. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of AIRTEL AFRICA PLC has no effect on the direction of CONSOLIDATED HALLMARK i.e., CONSOLIDATED HALLMARK and AIRTEL AFRICA go up and down completely randomly.
Pair Corralation between CONSOLIDATED HALLMARK and AIRTEL AFRICA
Assuming the 90 days trading horizon CONSOLIDATED HALLMARK HOLDINGS is expected to generate 3.67 times more return on investment than AIRTEL AFRICA. However, CONSOLIDATED HALLMARK is 3.67 times more volatile than AIRTEL AFRICA PLC. It trades about 0.18 of its potential returns per unit of risk. AIRTEL AFRICA PLC is currently generating about 0.09 per unit of risk. If you would invest 300.00 in CONSOLIDATED HALLMARK HOLDINGS on May 22, 2025 and sell it today you would earn a total of 183.00 from holding CONSOLIDATED HALLMARK HOLDINGS or generate 61.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 98.36% |
| Values | Daily Returns |
CONSOLIDATED HALLMARK HOLDINGS vs. AIRTEL AFRICA PLC
Performance |
| Timeline |
| CONSOLIDATED HALLMARK |
| AIRTEL AFRICA PLC |
CONSOLIDATED HALLMARK and AIRTEL AFRICA Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with CONSOLIDATED HALLMARK and AIRTEL AFRICA
The main advantage of trading using opposite CONSOLIDATED HALLMARK and AIRTEL AFRICA positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if CONSOLIDATED HALLMARK position performs unexpectedly, AIRTEL AFRICA 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 AIRTEL AFRICA will offset losses from the drop in AIRTEL AFRICA's long position.| CONSOLIDATED HALLMARK vs. FORTIS GLOBAL INSURANCE | CONSOLIDATED HALLMARK vs. VETIVA BANKING ETF | CONSOLIDATED HALLMARK vs. INDUSTRIAL MEDICAL GASES | CONSOLIDATED HALLMARK vs. JAIZ BANK PLC |
| AIRTEL AFRICA vs. JAIZ BANK PLC | AIRTEL AFRICA vs. FIDELITY BANK PLC | AIRTEL AFRICA vs. MULTI TREX INTEGRATED FOODS | AIRTEL AFRICA vs. ASO SAVINGS AND |
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 Transaction History module to view history of all your transactions and understand their impact on performance.
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