Correlation Between STANBIC IBTC and GREENWICH ASSET
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By analyzing existing cross correlation between STANBIC IBTC ETF and GREENWICH ASSET ETF, you can compare the effects of market volatilities on STANBIC IBTC and GREENWICH ASSET 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 STANBIC IBTC with a short position of GREENWICH ASSET. Check out your portfolio center. Please also check ongoing floating volatility patterns of STANBIC IBTC and GREENWICH ASSET.
Diversification Opportunities for STANBIC IBTC and GREENWICH ASSET
-0.55 | Correlation Coefficient |
Excellent diversification
The 3 months correlation between STANBIC and GREENWICH is -0.55. Overlapping area represents the amount of risk that can be diversified away by holding STANBIC IBTC ETF and GREENWICH ASSET ETF in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on GREENWICH ASSET ETF and STANBIC IBTC 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 STANBIC IBTC ETF are associated (or correlated) with GREENWICH ASSET. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of GREENWICH ASSET ETF has no effect on the direction of STANBIC IBTC i.e., STANBIC IBTC and GREENWICH ASSET go up and down completely randomly.
Pair Corralation between STANBIC IBTC and GREENWICH ASSET
Assuming the 90 days trading horizon STANBIC IBTC ETF is expected to generate 0.7 times more return on investment than GREENWICH ASSET. However, STANBIC IBTC ETF is 1.42 times less risky than GREENWICH ASSET. It trades about 0.13 of its potential returns per unit of risk. GREENWICH ASSET ETF is currently generating about -0.04 per unit of risk. If you would invest 30,690 in STANBIC IBTC ETF on June 6, 2025 and sell it today you would earn a total of 11,309 from holding STANBIC IBTC ETF or generate 36.85% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 98.36% |
| Values | Daily Returns |
STANBIC IBTC ETF vs. GREENWICH ASSET ETF
Performance |
| Timeline |
| STANBIC IBTC ETF |
| GREENWICH ASSET ETF |
STANBIC IBTC and GREENWICH ASSET Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with STANBIC IBTC and GREENWICH ASSET
The main advantage of trading using opposite STANBIC IBTC and GREENWICH ASSET positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if STANBIC IBTC position performs unexpectedly, GREENWICH ASSET 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 GREENWICH ASSET will offset losses from the drop in GREENWICH ASSET's long position.| STANBIC IBTC vs. STACO INSURANCE PLC | STANBIC IBTC vs. FIDSON HEALTHCARE PLC | STANBIC IBTC vs. LIVINGTRUST MORTGAGE BANK | STANBIC IBTC vs. AFRICAN ALLIANCE INSURANCE |
| GREENWICH ASSET vs. INTERNATIONAL BREWERIES PLC | GREENWICH ASSET vs. UNITY BANK PLC | GREENWICH ASSET vs. TRANSCORP HOTELS PLC | GREENWICH ASSET vs. GOLDEN GUINEA BREWERIES |
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 Companies Directory module to evaluate performance of over 100,000 Stocks, Funds, and ETFs against different fundamentals.
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