Correlation Between GUINEA INSURANCE and ALUMINIUM EXTRUSION
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By analyzing existing cross correlation between GUINEA INSURANCE PLC and ALUMINIUM EXTRUSION IND, you can compare the effects of market volatilities on GUINEA INSURANCE and ALUMINIUM EXTRUSION 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 ALUMINIUM EXTRUSION. Check out your portfolio center. Please also check ongoing floating volatility patterns of GUINEA INSURANCE and ALUMINIUM EXTRUSION.
Diversification Opportunities for GUINEA INSURANCE and ALUMINIUM EXTRUSION
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between GUINEA and ALUMINIUM is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding GUINEA INSURANCE PLC and ALUMINIUM EXTRUSION IND in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on ALUMINIUM EXTRUSION IND 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 ALUMINIUM EXTRUSION. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of ALUMINIUM EXTRUSION IND has no effect on the direction of GUINEA INSURANCE i.e., GUINEA INSURANCE and ALUMINIUM EXTRUSION go up and down completely randomly.
Pair Corralation between GUINEA INSURANCE and ALUMINIUM EXTRUSION
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. ALUMINIUM EXTRUSION IND
Performance |
| Timeline |
| GUINEA INSURANCE PLC |
| ALUMINIUM EXTRUSION IND |
GUINEA INSURANCE and ALUMINIUM EXTRUSION Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with GUINEA INSURANCE and ALUMINIUM EXTRUSION
The main advantage of trading using opposite GUINEA INSURANCE and ALUMINIUM EXTRUSION positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if GUINEA INSURANCE position performs unexpectedly, ALUMINIUM EXTRUSION 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 ALUMINIUM EXTRUSION will offset losses from the drop in ALUMINIUM EXTRUSION'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 |
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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 Technical Analysis module to check basic technical indicators and analysis based on most latest market data.
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