Correlation Between CONSOLIDATED HALLMARK and NORTHERN NIGERIA
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By analyzing existing cross correlation between CONSOLIDATED HALLMARK HOLDINGS and NORTHERN NIGERIA FLOUR, you can compare the effects of market volatilities on CONSOLIDATED HALLMARK and NORTHERN NIGERIA 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 NORTHERN NIGERIA. Check out your portfolio center. Please also check ongoing floating volatility patterns of CONSOLIDATED HALLMARK and NORTHERN NIGERIA.
Diversification Opportunities for CONSOLIDATED HALLMARK and NORTHERN NIGERIA
0.34 | Correlation Coefficient |
Weak diversification
The 3 months correlation between CONSOLIDATED and NORTHERN is 0.34. Overlapping area represents the amount of risk that can be diversified away by holding CONSOLIDATED HALLMARK HOLDINGS and NORTHERN NIGERIA FLOUR in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on NORTHERN NIGERIA FLOUR 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 NORTHERN NIGERIA. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of NORTHERN NIGERIA FLOUR has no effect on the direction of CONSOLIDATED HALLMARK i.e., CONSOLIDATED HALLMARK and NORTHERN NIGERIA go up and down completely randomly.
Pair Corralation between CONSOLIDATED HALLMARK and NORTHERN NIGERIA
Assuming the 90 days trading horizon CONSOLIDATED HALLMARK HOLDINGS is expected to generate 2.88 times more return on investment than NORTHERN NIGERIA. However, CONSOLIDATED HALLMARK is 2.88 times more volatile than NORTHERN NIGERIA FLOUR. It trades about 0.08 of its potential returns per unit of risk. NORTHERN NIGERIA FLOUR is currently generating about -0.13 per unit of risk. If you would invest 376.00 in CONSOLIDATED HALLMARK HOLDINGS on September 24, 2025 and sell it today you would earn a total of 54.00 from holding CONSOLIDATED HALLMARK HOLDINGS or generate 14.36% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
CONSOLIDATED HALLMARK HOLDINGS vs. NORTHERN NIGERIA FLOUR
Performance |
| Timeline |
| CONSOLIDATED HALLMARK |
| NORTHERN NIGERIA FLOUR |
CONSOLIDATED HALLMARK and NORTHERN NIGERIA Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with CONSOLIDATED HALLMARK and NORTHERN NIGERIA
The main advantage of trading using opposite CONSOLIDATED HALLMARK and NORTHERN NIGERIA positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if CONSOLIDATED HALLMARK position performs unexpectedly, NORTHERN NIGERIA 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 NORTHERN NIGERIA will offset losses from the drop in NORTHERN NIGERIA's long position.| CONSOLIDATED HALLMARK vs. CORONATION INSURANCE PLC | CONSOLIDATED HALLMARK vs. FORTIS GLOBAL INSURANCE | CONSOLIDATED HALLMARK vs. CHAMPION BREWERIES PLC | CONSOLIDATED HALLMARK vs. AFRICAN ALLIANCE INSURANCE |
| NORTHERN NIGERIA vs. INTERNATIONAL ENERGY INSURANCE | NORTHERN NIGERIA vs. UNITY BANK PLC | NORTHERN NIGERIA vs. C I LEASING | NORTHERN NIGERIA vs. STERLING FINANCIAL HOLDINGS |
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 Headlines Timeline module to stay connected to all market stories and filter out noise. Drill down to analyze hype elasticity.
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