Correlation Between AXAMANSARD INSURANCE and ZENITH BANK
Specify exactly 2 symbols:
By analyzing existing cross correlation between AXAMANSARD INSURANCE PLC and ZENITH BANK PLC, you can compare the effects of market volatilities on AXAMANSARD INSURANCE and ZENITH 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 ZENITH BANK. Check out your portfolio center. Please also check ongoing floating volatility patterns of AXAMANSARD INSURANCE and ZENITH BANK.
Diversification Opportunities for AXAMANSARD INSURANCE and ZENITH BANK
0.7 | Correlation Coefficient |
Poor diversification
The 3 months correlation between AXAMANSARD and ZENITH is 0.7. Overlapping area represents the amount of risk that can be diversified away by holding AXAMANSARD INSURANCE PLC and ZENITH BANK PLC in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on ZENITH 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 ZENITH BANK. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of ZENITH BANK PLC has no effect on the direction of AXAMANSARD INSURANCE i.e., AXAMANSARD INSURANCE and ZENITH BANK go up and down completely randomly.
Pair Corralation between AXAMANSARD INSURANCE and ZENITH BANK
Assuming the 90 days trading horizon AXAMANSARD INSURANCE PLC is expected to generate 1.57 times more return on investment than ZENITH BANK. However, AXAMANSARD INSURANCE is 1.57 times more volatile than ZENITH BANK PLC. It trades about 0.21 of its potential returns per unit of risk. ZENITH BANK PLC is currently generating about 0.17 per unit of risk. If you would invest 910.00 in AXAMANSARD INSURANCE PLC on June 4, 2025 and sell it today you would earn a total of 650.00 from holding AXAMANSARD INSURANCE PLC or generate 71.43% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Significant |
| Accuracy | 100.0% |
| Values | Daily Returns |
AXAMANSARD INSURANCE PLC vs. ZENITH BANK PLC
Performance |
| Timeline |
| AXAMANSARD INSURANCE PLC |
| ZENITH BANK PLC |
AXAMANSARD INSURANCE and ZENITH BANK Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with AXAMANSARD INSURANCE and ZENITH BANK
The main advantage of trading using opposite AXAMANSARD INSURANCE and ZENITH BANK positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if AXAMANSARD INSURANCE position performs unexpectedly, ZENITH 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 ZENITH BANK will offset losses from the drop in ZENITH BANK's long position.| AXAMANSARD INSURANCE vs. STACO INSURANCE PLC | AXAMANSARD INSURANCE vs. ASO SAVINGS AND | AXAMANSARD INSURANCE vs. NEM INSURANCE PLC | AXAMANSARD INSURANCE vs. UNION HOMES REAL |
| ZENITH BANK vs. NEM INSURANCE PLC | ZENITH BANK vs. AXAMANSARD INSURANCE PLC | ZENITH BANK vs. ECOBANK TRANSNATIONAL INCORPORATED | ZENITH BANK vs. CUSTODIAN INVESTMENT PLC |
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 Volatility module to check portfolio volatility and analyze historical return density to properly model market risk.
Other Complementary Tools
| Efficient Frontier Plot and analyze your portfolio and positions against risk-return landscape of the market. | |
| Theme Ratings Determine theme ratings based on digital equity recommendations. Macroaxis theme ratings are based on combination of fundamental analysis and risk-adjusted market performance | |
| USA ETFs Find actively traded Exchange Traded Funds (ETF) in USA | |
| Sign In To Macroaxis Sign in to explore Macroaxis' wealth optimization platform and fintech modules | |
| AI Portfolio Prophet Use AI to generate optimal portfolios and find profitable investment opportunities |