Correlation Between FORTIS GLOBAL and UNITY BANK
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By analyzing existing cross correlation between FORTIS GLOBAL INSURANCE and UNITY BANK PLC, you can compare the effects of market volatilities on FORTIS GLOBAL and UNITY BANK 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 UNITY BANK. Check out your portfolio center. Please also check ongoing floating volatility patterns of FORTIS GLOBAL and UNITY BANK.
Diversification Opportunities for FORTIS GLOBAL and UNITY BANK
-1.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between FORTIS and UNITY is -1.0. Overlapping area represents the amount of risk that can be diversified away by holding FORTIS GLOBAL INSURANCE and UNITY BANK PLC in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on UNITY BANK 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 UNITY BANK. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of UNITY BANK PLC has no effect on the direction of FORTIS GLOBAL i.e., FORTIS GLOBAL and UNITY BANK go up and down completely randomly.
Pair Corralation between FORTIS GLOBAL and UNITY BANK
If you would invest 151.00 in UNITY BANK PLC on August 31, 2025 and sell it today you would earn a total of 0.00 from holding UNITY BANK PLC or generate 0.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Strong |
| Accuracy | 100.0% |
| Values | Daily Returns |
FORTIS GLOBAL INSURANCE vs. UNITY BANK PLC
Performance |
| Timeline |
| FORTIS GLOBAL INSURANCE |
| UNITY BANK PLC |
FORTIS GLOBAL and UNITY BANK Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with FORTIS GLOBAL and UNITY BANK
The main advantage of trading using opposite FORTIS GLOBAL and UNITY BANK positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if FORTIS GLOBAL position performs unexpectedly, UNITY BANK 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 UNITY BANK will offset losses from the drop in UNITY BANK's long position.| FORTIS GLOBAL vs. UNIVERSAL INSURANCE PANY | FORTIS GLOBAL vs. ZENITH BANK PLC | FORTIS GLOBAL vs. WEMA BANK PLC | FORTIS GLOBAL vs. CORNERSTONE INSURANCE PLC |
| UNITY BANK vs. TOTALENERGIES MARKETING NIGERIA | UNITY BANK vs. STACO INSURANCE PLC | UNITY BANK vs. NEWGOLD EXCHANGE TRADED | UNITY BANK vs. UNION HOMES REAL |
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 Bond Analysis module to evaluate and analyze corporate bonds as a potential investment for your portfolios..
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