Correlation Between AXAMANSARD INSURANCE and AIICO INSURANCE
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By analyzing existing cross correlation between AXAMANSARD INSURANCE PLC and AIICO INSURANCE PLC, you can compare the effects of market volatilities on AXAMANSARD INSURANCE and AIICO 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 AXAMANSARD INSURANCE with a short position of AIICO INSURANCE. Check out your portfolio center. Please also check ongoing floating volatility patterns of AXAMANSARD INSURANCE and AIICO INSURANCE.
Diversification Opportunities for AXAMANSARD INSURANCE and AIICO INSURANCE
0.32 | Correlation Coefficient |
Weak diversification
The 3 months correlation between AXAMANSARD and AIICO is 0.32. Overlapping area represents the amount of risk that can be diversified away by holding AXAMANSARD INSURANCE PLC and AIICO INSURANCE PLC in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on AIICO INSURANCE PLC and AXAMANSARD 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 AXAMANSARD INSURANCE PLC are associated (or correlated) with AIICO INSURANCE. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of AIICO INSURANCE PLC has no effect on the direction of AXAMANSARD INSURANCE i.e., AXAMANSARD INSURANCE and AIICO INSURANCE go up and down completely randomly.
Pair Corralation between AXAMANSARD INSURANCE and AIICO INSURANCE
Assuming the 90 days trading horizon AXAMANSARD INSURANCE PLC is expected to generate 1.14 times more return on investment than AIICO INSURANCE. However, AXAMANSARD INSURANCE is 1.14 times more volatile than AIICO INSURANCE PLC. It trades about 0.15 of its potential returns per unit of risk. AIICO INSURANCE PLC is currently generating about 0.11 per unit of risk. If you would invest 781.00 in AXAMANSARD INSURANCE PLC on April 5, 2025 and sell it today you would earn a total of 216.00 from holding AXAMANSARD INSURANCE PLC or generate 27.66% return on investment over 90 days.
Time Period | 3 Months [change] |
Direction | Moves Together |
Strength | Very Weak |
Accuracy | 100.0% |
Values | Daily Returns |
AXAMANSARD INSURANCE PLC vs. AIICO INSURANCE PLC
Performance |
Timeline |
AXAMANSARD INSURANCE PLC |
AIICO INSURANCE PLC |
AXAMANSARD INSURANCE and AIICO INSURANCE Volatility Contrast
Predicted Return Density |
Returns |
Pair Trading with AXAMANSARD INSURANCE and AIICO INSURANCE
The main advantage of trading using opposite AXAMANSARD INSURANCE and AIICO INSURANCE positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if AXAMANSARD INSURANCE position performs unexpectedly, AIICO 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 AIICO INSURANCE will offset losses from the drop in AIICO INSURANCE's long position.AXAMANSARD INSURANCE vs. IKEJA HOTELS PLC | AXAMANSARD INSURANCE vs. BUA FOODS PLC | AXAMANSARD INSURANCE vs. UNIVERSAL INSURANCE PANY | AXAMANSARD INSURANCE vs. AIICO INSURANCE PLC |
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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 Investing Opportunities module to build portfolios using our predefined set of ideas and optimize them against your investing preferences.
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