Correlation Between AXAMANSARD INSURANCE and JAIZ BANK
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By analyzing existing cross correlation between AXAMANSARD INSURANCE PLC and JAIZ BANK PLC, you can compare the effects of market volatilities on AXAMANSARD INSURANCE and JAIZ BANK 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 JAIZ BANK. Check out your portfolio center. Please also check ongoing floating volatility patterns of AXAMANSARD INSURANCE and JAIZ BANK.
Diversification Opportunities for AXAMANSARD INSURANCE and JAIZ BANK
0.44 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between AXAMANSARD and JAIZ is 0.44. Overlapping area represents the amount of risk that can be diversified away by holding AXAMANSARD INSURANCE PLC and JAIZ BANK PLC in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on JAIZ BANK 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 JAIZ BANK. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of JAIZ BANK PLC has no effect on the direction of AXAMANSARD INSURANCE i.e., AXAMANSARD INSURANCE and JAIZ BANK go up and down completely randomly.
Pair Corralation between AXAMANSARD INSURANCE and JAIZ BANK
Assuming the 90 days trading horizon AXAMANSARD INSURANCE PLC is expected to generate 1.06 times more return on investment than JAIZ BANK. However, AXAMANSARD INSURANCE is 1.06 times more volatile than JAIZ BANK PLC. It trades about 0.04 of its potential returns per unit of risk. JAIZ BANK PLC is currently generating about -0.1 per unit of risk. If you would invest 943.00 in AXAMANSARD INSURANCE PLC on March 22, 2025 and sell it today you would earn a total of 12.00 from holding AXAMANSARD INSURANCE PLC or generate 1.27% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
AXAMANSARD INSURANCE PLC vs. JAIZ BANK PLC
Performance |
| Timeline |
| AXAMANSARD INSURANCE PLC |
| JAIZ BANK PLC |
AXAMANSARD INSURANCE and JAIZ BANK Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with AXAMANSARD INSURANCE and JAIZ BANK
The main advantage of trading using opposite AXAMANSARD INSURANCE and JAIZ BANK positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if AXAMANSARD INSURANCE position performs unexpectedly, JAIZ BANK 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 JAIZ BANK will offset losses from the drop in JAIZ BANK's long position.| AXAMANSARD INSURANCE vs. ZENITH BANK PLC | AXAMANSARD INSURANCE vs. INTERNATIONAL BREWERIES PLC | AXAMANSARD INSURANCE vs. SECURE ELECTRONIC TECHNOLOGY | AXAMANSARD INSURANCE vs. UNITY BANK 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 Pair Correlation module to compare performance and examine fundamental relationship between any two equity instruments.
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