Correlation Between UNITED BANK and TRANSCORP HOTELS
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By analyzing existing cross correlation between UNITED BANK FOR and TRANSCORP HOTELS PLC, you can compare the effects of market volatilities on UNITED BANK and TRANSCORP HOTELS 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 UNITED BANK with a short position of TRANSCORP HOTELS. Check out your portfolio center. Please also check ongoing floating volatility patterns of UNITED BANK and TRANSCORP HOTELS.
Diversification Opportunities for UNITED BANK and TRANSCORP HOTELS
-0.24 | Correlation Coefficient |
Very good diversification
The 3 months correlation between UNITED and TRANSCORP is -0.24. Overlapping area represents the amount of risk that can be diversified away by holding UNITED BANK FOR and TRANSCORP HOTELS PLC in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on TRANSCORP HOTELS PLC and UNITED BANK 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 UNITED BANK FOR are associated (or correlated) with TRANSCORP HOTELS. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of TRANSCORP HOTELS PLC has no effect on the direction of UNITED BANK i.e., UNITED BANK and TRANSCORP HOTELS go up and down completely randomly.
Pair Corralation between UNITED BANK and TRANSCORP HOTELS
Assuming the 90 days trading horizon UNITED BANK FOR is expected to under-perform the TRANSCORP HOTELS. In addition to that, UNITED BANK is 1.07 times more volatile than TRANSCORP HOTELS PLC. It trades about -0.08 of its total potential returns per unit of risk. TRANSCORP HOTELS PLC is currently generating about 0.17 per unit of volatility. If you would invest 14,240 in TRANSCORP HOTELS PLC on July 20, 2025 and sell it today you would earn a total of 2,220 from holding TRANSCORP HOTELS PLC or generate 15.59% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
UNITED BANK FOR vs. TRANSCORP HOTELS PLC
Performance |
| Timeline |
| UNITED BANK FOR |
| TRANSCORP HOTELS PLC |
UNITED BANK and TRANSCORP HOTELS Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with UNITED BANK and TRANSCORP HOTELS
The main advantage of trading using opposite UNITED BANK and TRANSCORP HOTELS positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if UNITED BANK position performs unexpectedly, TRANSCORP HOTELS 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 TRANSCORP HOTELS will offset losses from the drop in TRANSCORP HOTELS's long position.| UNITED BANK vs. SECURE ELECTRONIC TECHNOLOGY | UNITED BANK vs. GOLDEN GUINEA BREWERIES | UNITED BANK vs. INDUSTRIAL MEDICAL GASES | UNITED BANK vs. CUSTODIAN INVESTMENT PLC |
| TRANSCORP HOTELS vs. ABBEY MORTGAGE BANK | TRANSCORP HOTELS vs. SECURE ELECTRONIC TECHNOLOGY | TRANSCORP HOTELS vs. MULTI TREX INTEGRATED FOODS | TRANSCORP HOTELS vs. C I LEASING |
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 Funds Screener module to find actively-traded funds from around the world traded on over 30 global exchanges.
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