Correlation Between FORTIS GLOBAL and STACO INSURANCE

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Can any of the company-specific risk be diversified away by investing in both FORTIS GLOBAL and STACO 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 STACO 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 STACO INSURANCE PLC, you can compare the effects of market volatilities on FORTIS GLOBAL and STACO 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 STACO INSURANCE. Check out your portfolio center. Please also check ongoing floating volatility patterns of FORTIS GLOBAL and STACO INSURANCE.

Diversification Opportunities for FORTIS GLOBAL and STACO INSURANCE

-1.0
  Correlation Coefficient

Pay attention - limited upside

The 3 months correlation between FORTIS and STACO is -1.0. Overlapping area represents the amount of risk that can be diversified away by holding FORTIS GLOBAL INSURANCE and STACO INSURANCE PLC in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on STACO 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 STACO INSURANCE. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of STACO INSURANCE PLC has no effect on the direction of FORTIS GLOBAL i.e., FORTIS GLOBAL and STACO INSURANCE go up and down completely randomly.

Pair Corralation between FORTIS GLOBAL and STACO INSURANCE

If you would invest  48.00  in STACO INSURANCE PLC on March 23, 2025 and sell it today you would earn a total of  0.00  from holding STACO INSURANCE PLC or generate 0.0% return on investment over 90 days.
Time Period3 Months [change]
DirectionMoves Against 
StrengthStrong
Accuracy5.71%
ValuesDaily Returns

FORTIS GLOBAL INSURANCE  vs.  STACO 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.
STACO INSURANCE PLC 

Risk-Adjusted Performance

Very Weak

 
Weak
 
Strong
Over the last 90 days STACO INSURANCE PLC has generated negative risk-adjusted returns adding no value to investors with long positions. In spite of fairly strong fundamental indicators, STACO INSURANCE is not utilizing all of its potentials. The recent stock price disturbance, may contribute to short-term losses for the investors.

FORTIS GLOBAL and STACO INSURANCE Volatility Contrast

   Predicted Return Density   
       Returns  

Pair Trading with FORTIS GLOBAL and STACO INSURANCE

The main advantage of trading using opposite FORTIS GLOBAL and STACO INSURANCE positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if FORTIS GLOBAL position performs unexpectedly, STACO 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 STACO INSURANCE will offset losses from the drop in STACO INSURANCE's long position.
FORTIS GLOBAL vs. CHAMPION BREWERIES PLC
FORTIS GLOBAL vs. ETERNA PLC
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FORTIS GLOBAL vs. CAVERTON OFFSHORE SUPPORT
The idea behind FORTIS GLOBAL INSURANCE and STACO 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.
STACO INSURANCE vs. CHAMPION BREWERIES PLC
STACO INSURANCE vs. ETERNA PLC
STACO INSURANCE vs. ABBEY MORTGAGE BANK
STACO INSURANCE vs. CAVERTON OFFSHORE SUPPORT
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 Stocks Directory module to find actively traded stocks across global markets.

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