Correlation Between MULTI TREX and NEM INSURANCE
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By analyzing existing cross correlation between MULTI TREX INTEGRATED FOODS and NEM INSURANCE PLC, you can compare the effects of market volatilities on MULTI TREX and NEM 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 MULTI TREX with a short position of NEM INSURANCE. Check out your portfolio center. Please also check ongoing floating volatility patterns of MULTI TREX and NEM INSURANCE.
Diversification Opportunities for MULTI TREX and NEM INSURANCE
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between MULTI and NEM is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding MULTI TREX INTEGRATED FOODS and NEM INSURANCE PLC in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on NEM INSURANCE PLC and MULTI TREX 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 MULTI TREX INTEGRATED FOODS are associated (or correlated) with NEM INSURANCE. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of NEM INSURANCE PLC has no effect on the direction of MULTI TREX i.e., MULTI TREX and NEM INSURANCE go up and down completely randomly.
Pair Corralation between MULTI TREX and NEM INSURANCE
If you would invest 1,470 in NEM INSURANCE PLC on May 29, 2025 and sell it today you would earn a total of 1,420 from holding NEM INSURANCE PLC or generate 96.6% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
MULTI TREX INTEGRATED FOODS vs. NEM INSURANCE PLC
Performance |
| Timeline |
| MULTI TREX INTEGRATED |
| NEM INSURANCE PLC |
MULTI TREX and NEM INSURANCE Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with MULTI TREX and NEM INSURANCE
The main advantage of trading using opposite MULTI TREX and NEM INSURANCE positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if MULTI TREX position performs unexpectedly, NEM 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 NEM INSURANCE will offset losses from the drop in NEM INSURANCE's long position.| MULTI TREX vs. FIDELITY BANK PLC | MULTI TREX vs. GOLDEN GUINEA BREWERIES | MULTI TREX vs. DN TYRE RUBBER | MULTI TREX vs. AFRICAN ALLIANCE INSURANCE |
| NEM INSURANCE vs. GUINEA INSURANCE PLC | NEM INSURANCE vs. ALUMINIUM EXTRUSION IND | NEM INSURANCE vs. VITAFOAM NIGERIA PLC | NEM INSURANCE vs. JAPAUL OIL MARITIME |
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 Manager module to state of the art Portfolio Manager to monitor and improve performance of your invested capital.
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