Correlation Between NEM INSURANCE and C I
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By analyzing existing cross correlation between NEM INSURANCE PLC and C I LEASING, you can compare the effects of market volatilities on NEM INSURANCE and C I 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 NEM INSURANCE with a short position of C I. Check out your portfolio center. Please also check ongoing floating volatility patterns of NEM INSURANCE and C I.
Diversification Opportunities for NEM INSURANCE and C I
0.91 | Correlation Coefficient |
Almost no diversification
The 3 months correlation between NEM and CILEASING is 0.91. Overlapping area represents the amount of risk that can be diversified away by holding NEM INSURANCE PLC and C I LEASING in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on C I LEASING and NEM 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 NEM INSURANCE PLC are associated (or correlated) with C I. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of C I LEASING has no effect on the direction of NEM INSURANCE i.e., NEM INSURANCE and C I go up and down completely randomly.
Pair Corralation between NEM INSURANCE and C I
Assuming the 90 days trading horizon NEM INSURANCE is expected to generate 1.73 times less return on investment than C I. But when comparing it to its historical volatility, NEM INSURANCE PLC is 1.92 times less risky than C I. It trades about 0.26 of its potential returns per unit of risk. C I LEASING is currently generating about 0.23 of returns per unit of risk over similar time horizon. If you would invest 366.00 in C I LEASING on April 27, 2025 and sell it today you would earn a total of 379.00 from holding C I LEASING or generate 103.55% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Strong |
| Accuracy | 100.0% |
| Values | Daily Returns |
NEM INSURANCE PLC vs. C I LEASING
Performance |
| Timeline |
| NEM INSURANCE PLC |
| C I LEASING |
NEM INSURANCE and C I Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with NEM INSURANCE and C I
The main advantage of trading using opposite NEM INSURANCE and C I positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if NEM INSURANCE position performs unexpectedly, C I 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 C I will offset losses from the drop in C I's long position.| NEM INSURANCE vs. UNITY BANK PLC | NEM INSURANCE vs. UNITED BANK FOR | NEM INSURANCE vs. UNIVERSAL INSURANCE PANY | NEM INSURANCE vs. TOTALENERGIES MARKETING NIGERIA |
| C I vs. LIVINGTRUST MORTGAGE BANK | C I vs. WEMA BANK PLC | C I vs. UNIVERSAL INSURANCE PANY | C I vs. JAIZ BANK 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 Center module to all portfolio management and optimization tools to improve performance of your portfolios.
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