Correlation Between STACO INSURANCE and FIDELITY BANK
Specify exactly 2 symbols:
By analyzing existing cross correlation between STACO INSURANCE PLC and FIDELITY BANK PLC, you can compare the effects of market volatilities on STACO INSURANCE and FIDELITY 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 STACO INSURANCE with a short position of FIDELITY BANK. Check out your portfolio center. Please also check ongoing floating volatility patterns of STACO INSURANCE and FIDELITY BANK.
Diversification Opportunities for STACO INSURANCE and FIDELITY BANK
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between STACO and FIDELITY is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding STACO INSURANCE PLC and FIDELITY BANK PLC in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on FIDELITY BANK PLC 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 FIDELITY BANK. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of FIDELITY BANK PLC has no effect on the direction of STACO INSURANCE i.e., STACO INSURANCE and FIDELITY BANK go up and down completely randomly.
Pair Corralation between STACO INSURANCE and FIDELITY BANK
If you would invest 2,000 in FIDELITY BANK PLC on May 30, 2025 and sell it today you would earn a total of 140.00 from holding FIDELITY BANK PLC or generate 7.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
STACO INSURANCE PLC vs. FIDELITY BANK PLC
Performance |
| Timeline |
| STACO INSURANCE PLC |
| FIDELITY BANK PLC |
STACO INSURANCE and FIDELITY BANK Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with STACO INSURANCE and FIDELITY BANK
The main advantage of trading using opposite STACO INSURANCE and FIDELITY BANK positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if STACO INSURANCE position performs unexpectedly, FIDELITY 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 FIDELITY BANK will offset losses from the drop in FIDELITY BANK's long position.| STACO INSURANCE vs. AXAMANSARD INSURANCE PLC | STACO INSURANCE vs. AFRICAN ALLIANCE INSURANCE | STACO INSURANCE vs. WEMA BANK PLC | STACO INSURANCE vs. UNITED BANK FOR |
| FIDELITY BANK vs. GOLDEN GUINEA BREWERIES | FIDELITY BANK vs. ZENITH BANK PLC | FIDELITY BANK vs. UNION HOMES REAL | FIDELITY BANK vs. WEMA 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 Transaction History module to view history of all your transactions and understand their impact on performance.
Other Complementary Tools
| USA ETFs Find actively traded Exchange Traded Funds (ETF) in USA | |
| Efficient Frontier Plot and analyze your portfolio and positions against risk-return landscape of the market. | |
| Alpha Finder Use alpha and beta coefficients to find investment opportunities after accounting for the risk | |
| Portfolio Manager State of the art Portfolio Manager to monitor and improve performance of your invested capital | |
| Correlation Analysis Reduce portfolio risk simply by holding instruments which are not perfectly correlated |