Correlation Between UNION HOMES and ABBEY MORTGAGE
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By analyzing existing cross correlation between UNION HOMES REAL and ABBEY MORTGAGE BANK, you can compare the effects of market volatilities on UNION HOMES and ABBEY MORTGAGE 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 UNION HOMES with a short position of ABBEY MORTGAGE. Check out your portfolio center. Please also check ongoing floating volatility patterns of UNION HOMES and ABBEY MORTGAGE.
Diversification Opportunities for UNION HOMES and ABBEY MORTGAGE
0.14 | Correlation Coefficient |
Average diversification
The 3 months correlation between UNION and ABBEY is 0.14. Overlapping area represents the amount of risk that can be diversified away by holding UNION HOMES REAL and ABBEY MORTGAGE BANK in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on ABBEY MORTGAGE BANK and UNION HOMES 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 UNION HOMES REAL are associated (or correlated) with ABBEY MORTGAGE. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of ABBEY MORTGAGE BANK has no effect on the direction of UNION HOMES i.e., UNION HOMES and ABBEY MORTGAGE go up and down completely randomly.
Pair Corralation between UNION HOMES and ABBEY MORTGAGE
Assuming the 90 days trading horizon UNION HOMES REAL is expected to under-perform the ABBEY MORTGAGE. But the stock apears to be less risky and, when comparing its historical volatility, UNION HOMES REAL is 2.66 times less risky than ABBEY MORTGAGE. The stock trades about -0.18 of its potential returns per unit of risk. The ABBEY MORTGAGE BANK is currently generating about -0.03 of returns per unit of risk over similar time horizon. If you would invest 800.00 in ABBEY MORTGAGE BANK on July 20, 2025 and sell it today you would lose (120.00) from holding ABBEY MORTGAGE BANK or give up 15.0% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
UNION HOMES REAL vs. ABBEY MORTGAGE BANK
Performance |
| Timeline |
| UNION HOMES REAL |
| ABBEY MORTGAGE BANK |
UNION HOMES and ABBEY MORTGAGE Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with UNION HOMES and ABBEY MORTGAGE
The main advantage of trading using opposite UNION HOMES and ABBEY MORTGAGE positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if UNION HOMES position performs unexpectedly, ABBEY MORTGAGE 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 ABBEY MORTGAGE will offset losses from the drop in ABBEY MORTGAGE's long position.| UNION HOMES vs. MULTI TREX INTEGRATED FOODS | UNION HOMES vs. UNITY BANK PLC | UNION HOMES vs. STACO INSURANCE PLC | UNION HOMES vs. BUA FOODS PLC |
| ABBEY MORTGAGE vs. BUA FOODS PLC | ABBEY MORTGAGE vs. FORTIS GLOBAL INSURANCE | ABBEY MORTGAGE vs. NEM INSURANCE PLC | ABBEY MORTGAGE vs. TRANSCORP HOTELS 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 Risk-Return Analysis module to view associations between returns expected from investment and the risk you assume.
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