Correlation Between INDUSTRIAL MEDICAL and C I
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By analyzing existing cross correlation between INDUSTRIAL MEDICAL GASES and C I LEASING, you can compare the effects of market volatilities on INDUSTRIAL MEDICAL and C I 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 INDUSTRIAL MEDICAL with a short position of C I. Check out your portfolio center. Please also check ongoing floating volatility patterns of INDUSTRIAL MEDICAL and C I.
Diversification Opportunities for INDUSTRIAL MEDICAL and C I
-0.34 | Correlation Coefficient |
Very good diversification
The 3 months correlation between INDUSTRIAL and CILEASING is -0.34. Overlapping area represents the amount of risk that can be diversified away by holding INDUSTRIAL MEDICAL GASES and C I LEASING in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on C I LEASING and INDUSTRIAL MEDICAL 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 INDUSTRIAL MEDICAL GASES are associated (or correlated) with C I. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of C I LEASING has no effect on the direction of INDUSTRIAL MEDICAL i.e., INDUSTRIAL MEDICAL and C I go up and down completely randomly.
Pair Corralation between INDUSTRIAL MEDICAL and C I
Assuming the 90 days trading horizon INDUSTRIAL MEDICAL GASES is expected to under-perform the C I. But the stock apears to be less risky and, when comparing its historical volatility, INDUSTRIAL MEDICAL GASES is 1.44 times less risky than C I. The stock trades about -0.04 of its potential returns per unit of risk. The C I LEASING is currently generating about 0.18 of returns per unit of risk over similar time horizon. If you would invest 374.00 in C I LEASING on April 9, 2025 and sell it today you would earn a total of 226.00 from holding C I LEASING or generate 60.43% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
INDUSTRIAL MEDICAL GASES vs. C I LEASING
Performance |
| Timeline |
| INDUSTRIAL MEDICAL GASES |
| C I LEASING |
INDUSTRIAL MEDICAL and C I Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with INDUSTRIAL MEDICAL and C I
The main advantage of trading using opposite INDUSTRIAL MEDICAL and C I positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if INDUSTRIAL MEDICAL position performs unexpectedly, C I 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 C I will offset losses from the drop in C I's long position.| INDUSTRIAL MEDICAL vs. GUINEA INSURANCE PLC | INDUSTRIAL MEDICAL vs. ALUMINIUM EXTRUSION IND | INDUSTRIAL MEDICAL vs. VITAFOAM NIGERIA PLC | INDUSTRIAL MEDICAL vs. SECURE ELECTRONIC TECHNOLOGY |
| C I vs. MULTI TREX INTEGRATED FOODS | C I vs. JAIZ BANK PLC | C I vs. AIICO INSURANCE PLC | C I vs. UNIVERSAL INSURANCE PANY |
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 Correlation Analysis module to reduce portfolio risk simply by holding instruments which are not perfectly correlated.
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