Correlation Between STACO INSURANCE and ALUMINIUM EXTRUSION
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By analyzing existing cross correlation between STACO INSURANCE PLC and ALUMINIUM EXTRUSION IND, you can compare the effects of market volatilities on STACO INSURANCE and ALUMINIUM EXTRUSION 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 STACO INSURANCE with a short position of ALUMINIUM EXTRUSION. Check out your portfolio center. Please also check ongoing floating volatility patterns of STACO INSURANCE and ALUMINIUM EXTRUSION.
Diversification Opportunities for STACO INSURANCE and ALUMINIUM EXTRUSION
-1.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between STACO and ALUMINIUM is -1.0. Overlapping area represents the amount of risk that can be diversified away by holding STACO INSURANCE PLC and ALUMINIUM EXTRUSION IND in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on ALUMINIUM EXTRUSION IND and STACO 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 STACO INSURANCE PLC are associated (or correlated) with ALUMINIUM EXTRUSION. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of ALUMINIUM EXTRUSION IND has no effect on the direction of STACO INSURANCE i.e., STACO INSURANCE and ALUMINIUM EXTRUSION go up and down completely randomly.
Pair Corralation between STACO INSURANCE and ALUMINIUM EXTRUSION
If you would invest 715.00 in ALUMINIUM EXTRUSION IND on April 2, 2025 and sell it today you would earn a total of 0.00 from holding ALUMINIUM EXTRUSION IND or generate 0.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Strong |
| Accuracy | 100.0% |
| Values | Daily Returns |
STACO INSURANCE PLC vs. ALUMINIUM EXTRUSION IND
Performance |
| Timeline |
| STACO INSURANCE PLC |
| ALUMINIUM EXTRUSION IND |
STACO INSURANCE and ALUMINIUM EXTRUSION Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with STACO INSURANCE and ALUMINIUM EXTRUSION
The main advantage of trading using opposite STACO INSURANCE and ALUMINIUM EXTRUSION positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if STACO INSURANCE position performs unexpectedly, ALUMINIUM EXTRUSION 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 ALUMINIUM EXTRUSION will offset losses from the drop in ALUMINIUM EXTRUSION's long position.| STACO INSURANCE vs. CORONATION INSURANCE PLC | STACO INSURANCE vs. VETIVA BANKING ETF | STACO INSURANCE vs. AFRICAN ALLIANCE INSURANCE | STACO INSURANCE vs. BUA FOODS 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 Portfolio Volatility module to check portfolio volatility and analyze historical return density to properly model market risk.
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