Correlation Between JAIZ BANK and AXAMANSARD INSURANCE
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By analyzing existing cross correlation between JAIZ BANK PLC and AXAMANSARD INSURANCE PLC, you can compare the effects of market volatilities on JAIZ BANK and AXAMANSARD INSURANCE 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 JAIZ BANK with a short position of AXAMANSARD INSURANCE. Check out your portfolio center. Please also check ongoing floating volatility patterns of JAIZ BANK and AXAMANSARD INSURANCE.
Diversification Opportunities for JAIZ BANK and AXAMANSARD INSURANCE
0.43 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between JAIZ and AXAMANSARD is 0.43. Overlapping area represents the amount of risk that can be diversified away by holding JAIZ BANK PLC and AXAMANSARD INSURANCE PLC in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on AXAMANSARD INSURANCE PLC and JAIZ BANK 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 JAIZ BANK PLC are associated (or correlated) with AXAMANSARD INSURANCE. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of AXAMANSARD INSURANCE PLC has no effect on the direction of JAIZ BANK i.e., JAIZ BANK and AXAMANSARD INSURANCE go up and down completely randomly.
Pair Corralation between JAIZ BANK and AXAMANSARD INSURANCE
Assuming the 90 days trading horizon JAIZ BANK is expected to generate 1.2 times less return on investment than AXAMANSARD INSURANCE. In addition to that, JAIZ BANK is 1.18 times more volatile than AXAMANSARD INSURANCE PLC. It trades about 0.05 of its total potential returns per unit of risk. AXAMANSARD INSURANCE PLC is currently generating about 0.07 per unit of volatility. If you would invest 413.00 in AXAMANSARD INSURANCE PLC on March 24, 2025 and sell it today you would earn a total of 557.00 from holding AXAMANSARD INSURANCE PLC or generate 134.87% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
JAIZ BANK PLC vs. AXAMANSARD INSURANCE PLC
Performance |
| Timeline |
| JAIZ BANK PLC |
| AXAMANSARD INSURANCE PLC |
JAIZ BANK and AXAMANSARD INSURANCE Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with JAIZ BANK and AXAMANSARD INSURANCE
The main advantage of trading using opposite JAIZ BANK and AXAMANSARD INSURANCE positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if JAIZ BANK position performs unexpectedly, AXAMANSARD INSURANCE 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 AXAMANSARD INSURANCE will offset losses from the drop in AXAMANSARD INSURANCE's long position.| JAIZ BANK vs. FORTIS GLOBAL INSURANCE | JAIZ BANK vs. SOVEREIGN TRUST INSURANCE | JAIZ BANK vs. INTERNATIONAL ENERGY INSURANCE | JAIZ BANK 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 Portfolio Backtesting module to avoid under-diversification and over-optimization by backtesting your portfolios.
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