Correlation Between FORTIS GLOBAL and AIICO INSURANCE

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Can any of the company-specific risk be diversified away by investing in both FORTIS GLOBAL and AIICO INSURANCE 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 FORTIS GLOBAL and AIICO INSURANCE into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between FORTIS GLOBAL INSURANCE and AIICO INSURANCE PLC, you can compare the effects of market volatilities on FORTIS GLOBAL and AIICO INSURANCE 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 FORTIS GLOBAL with a short position of AIICO INSURANCE. Check out your portfolio center. Please also check ongoing floating volatility patterns of FORTIS GLOBAL and AIICO INSURANCE.

Diversification Opportunities for FORTIS GLOBAL and AIICO INSURANCE

0.0
  Correlation Coefficient

Pay attention - limited upside

The 3 months correlation between FORTIS and AIICO is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding FORTIS GLOBAL INSURANCE and AIICO INSURANCE PLC in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on AIICO INSURANCE PLC and FORTIS 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 FORTIS GLOBAL INSURANCE are associated (or correlated) with AIICO INSURANCE. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of AIICO INSURANCE PLC has no effect on the direction of FORTIS GLOBAL i.e., FORTIS GLOBAL and AIICO INSURANCE go up and down completely randomly.

Pair Corralation between FORTIS GLOBAL and AIICO INSURANCE

If you would invest  159.00  in AIICO INSURANCE PLC on April 19, 2025 and sell it today you would earn a total of  68.00  from holding AIICO INSURANCE PLC or generate 42.77% return on investment over 90 days.
Time Period3 Months [change]
DirectionFlat 
StrengthInsignificant
Accuracy95.45%
ValuesDaily Returns

FORTIS GLOBAL INSURANCE  vs.  AIICO INSURANCE PLC

 Performance 
       Timeline  
FORTIS GLOBAL INSURANCE 

Risk-Adjusted Performance

Very Weak

 
Weak
 
Strong
Over the last 90 days FORTIS GLOBAL INSURANCE has generated negative risk-adjusted returns adding no value to investors with long positions. In spite of comparatively stable basic indicators, FORTIS GLOBAL is not utilizing all of its potentials. The recent stock price uproar, may contribute to short-horizon losses for the private investors.
AIICO INSURANCE PLC 

Risk-Adjusted Performance

Good

 
Weak
 
Strong
Compared to the overall equity markets, risk-adjusted returns on investments in AIICO INSURANCE PLC are ranked lower than 15 (%) of all global equities and portfolios over the last 90 days. In spite of fairly inconsistent fundamental indicators, AIICO INSURANCE showed solid returns over the last few months and may actually be approaching a breakup point.

FORTIS GLOBAL and AIICO INSURANCE Volatility Contrast

   Predicted Return Density   
       Returns  

Pair Trading with FORTIS GLOBAL and AIICO INSURANCE

The main advantage of trading using opposite FORTIS GLOBAL and AIICO INSURANCE positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if FORTIS GLOBAL position performs unexpectedly, AIICO INSURANCE 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 AIICO INSURANCE will offset losses from the drop in AIICO INSURANCE's long position.
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The idea behind FORTIS GLOBAL INSURANCE and AIICO INSURANCE PLC pairs trading is to make the combined position market-neutral, meaning the overall market's direction will not affect its win or loss (or potential downside or upside). This can be achieved by designing a pairs trade with two highly correlated stocks or equities that operate in a similar space or sector, making it possible to obtain profits through simple and relatively low-risk investment.
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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 Odds Of Bankruptcy module to get analysis of equity chance of financial distress in the next 2 years.

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