Correlation Between INDUSTRIAL MEDICAL and CONSOLIDATED HALLMARK
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By analyzing existing cross correlation between INDUSTRIAL MEDICAL GASES and CONSOLIDATED HALLMARK HOLDINGS, you can compare the effects of market volatilities on INDUSTRIAL MEDICAL and CONSOLIDATED HALLMARK 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 CONSOLIDATED HALLMARK. Check out your portfolio center. Please also check ongoing floating volatility patterns of INDUSTRIAL MEDICAL and CONSOLIDATED HALLMARK.
Diversification Opportunities for INDUSTRIAL MEDICAL and CONSOLIDATED HALLMARK
0.16 | Correlation Coefficient |
Average diversification
The 3 months correlation between INDUSTRIAL and CONSOLIDATED is 0.16. Overlapping area represents the amount of risk that can be diversified away by holding INDUSTRIAL MEDICAL GASES and CONSOLIDATED HALLMARK HOLDINGS in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on CONSOLIDATED HALLMARK 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 CONSOLIDATED HALLMARK. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of CONSOLIDATED HALLMARK has no effect on the direction of INDUSTRIAL MEDICAL i.e., INDUSTRIAL MEDICAL and CONSOLIDATED HALLMARK go up and down completely randomly.
Pair Corralation between INDUSTRIAL MEDICAL and CONSOLIDATED HALLMARK
Assuming the 90 days trading horizon INDUSTRIAL MEDICAL is expected to generate 3.01 times less return on investment than CONSOLIDATED HALLMARK. But when comparing it to its historical volatility, INDUSTRIAL MEDICAL GASES is 1.34 times less risky than CONSOLIDATED HALLMARK. It trades about 0.06 of its potential returns per unit of risk. CONSOLIDATED HALLMARK HOLDINGS is currently generating about 0.13 of returns per unit of risk over similar time horizon. If you would invest 304.00 in CONSOLIDATED HALLMARK HOLDINGS on May 30, 2025 and sell it today you would earn a total of 126.00 from holding CONSOLIDATED HALLMARK HOLDINGS or generate 41.45% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 98.36% |
| Values | Daily Returns |
INDUSTRIAL MEDICAL GASES vs. CONSOLIDATED HALLMARK HOLDINGS
Performance |
| Timeline |
| INDUSTRIAL MEDICAL GASES |
| CONSOLIDATED HALLMARK |
INDUSTRIAL MEDICAL and CONSOLIDATED HALLMARK Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with INDUSTRIAL MEDICAL and CONSOLIDATED HALLMARK
The main advantage of trading using opposite INDUSTRIAL MEDICAL and CONSOLIDATED HALLMARK positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if INDUSTRIAL MEDICAL position performs unexpectedly, CONSOLIDATED HALLMARK 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 CONSOLIDATED HALLMARK will offset losses from the drop in CONSOLIDATED HALLMARK's long position.| INDUSTRIAL MEDICAL vs. GUINEA INSURANCE PLC | INDUSTRIAL MEDICAL vs. ALUMINIUM EXTRUSION IND | INDUSTRIAL MEDICAL vs. VITAFOAM NIGERIA PLC | INDUSTRIAL MEDICAL vs. JAPAUL OIL MARITIME |
| CONSOLIDATED HALLMARK vs. MULTIVERSE MINING AND | CONSOLIDATED HALLMARK vs. LIVINGTRUST MORTGAGE BANK | CONSOLIDATED HALLMARK vs. ASO SAVINGS AND | CONSOLIDATED HALLMARK vs. MULTI TREX INTEGRATED FOODS |
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 Competition Analyzer module to analyze and compare many basic indicators for a group of related or unrelated entities.
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