Correlation Between GUINEA INSURANCE and AFRICAN ALLIANCE
Specify exactly 2 symbols:
By analyzing existing cross correlation between GUINEA INSURANCE PLC and AFRICAN ALLIANCE INSURANCE, you can compare the effects of market volatilities on GUINEA INSURANCE and AFRICAN ALLIANCE 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 GUINEA INSURANCE with a short position of AFRICAN ALLIANCE. Check out your portfolio center. Please also check ongoing floating volatility patterns of GUINEA INSURANCE and AFRICAN ALLIANCE.
Diversification Opportunities for GUINEA INSURANCE and AFRICAN ALLIANCE
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between GUINEA and AFRICAN is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding GUINEA INSURANCE PLC and AFRICAN ALLIANCE INSURANCE in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on AFRICAN ALLIANCE INS and GUINEA INSURANCE 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 GUINEA INSURANCE PLC are associated (or correlated) with AFRICAN ALLIANCE. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of AFRICAN ALLIANCE INS has no effect on the direction of GUINEA INSURANCE i.e., GUINEA INSURANCE and AFRICAN ALLIANCE go up and down completely randomly.
Pair Corralation between GUINEA INSURANCE and AFRICAN ALLIANCE
If you would invest 68.00 in GUINEA INSURANCE PLC on May 31, 2025 and sell it today you would earn a total of 86.00 from holding GUINEA INSURANCE PLC or generate 126.47% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
GUINEA INSURANCE PLC vs. AFRICAN ALLIANCE INSURANCE
Performance |
| Timeline |
| GUINEA INSURANCE PLC |
| AFRICAN ALLIANCE INS |
GUINEA INSURANCE and AFRICAN ALLIANCE Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with GUINEA INSURANCE and AFRICAN ALLIANCE
The main advantage of trading using opposite GUINEA INSURANCE and AFRICAN ALLIANCE positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if GUINEA INSURANCE position performs unexpectedly, AFRICAN ALLIANCE 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 AFRICAN ALLIANCE will offset losses from the drop in AFRICAN ALLIANCE's long position.| GUINEA INSURANCE vs. MULTI TREX INTEGRATED FOODS | GUINEA INSURANCE vs. NEM INSURANCE PLC | GUINEA INSURANCE vs. AXAMANSARD INSURANCE PLC | GUINEA INSURANCE vs. AFRICAN ALLIANCE INSURANCE |
| AFRICAN ALLIANCE vs. MULTIVERSE MINING AND | AFRICAN ALLIANCE vs. STERLING FINANCIAL HOLDINGS | AFRICAN ALLIANCE vs. STACO INSURANCE PLC | AFRICAN ALLIANCE vs. JAIZ BANK PLC |
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 Insider Screener module to find insiders across different sectors to evaluate their impact on performance.
Other Complementary Tools
| Bond Analysis Evaluate and analyze corporate bonds as a potential investment for your portfolios. | |
| Idea Optimizer Use advanced portfolio builder with pre-computed micro ideas to build optimal portfolio | |
| Economic Indicators Top statistical indicators that provide insights into how an economy is performing | |
| Watchlist Optimization Optimize watchlists to build efficient portfolios or rebalance existing positions based on the mean-variance optimization algorithm | |
| Technical Analysis Check basic technical indicators and analysis based on most latest market data |