Correlation Between UNIQA INSURANCE and LABOCANNA
Can any of the company-specific risk be diversified away by investing in both UNIQA INSURANCE and LABOCANNA at the same time? Although using a correlation coefficient on its own may not help to predict future stock returns, this module helps to understand the diversifiable risk of combining UNIQA INSURANCE and LABOCANNA into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between UNIQA INSURANCE GR and LABOCANNA SA ZY 10, you can compare the effects of market volatilities on UNIQA INSURANCE and LABOCANNA 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 UNIQA INSURANCE with a short position of LABOCANNA. Check out your portfolio center. Please also check ongoing floating volatility patterns of UNIQA INSURANCE and LABOCANNA.
Diversification Opportunities for UNIQA INSURANCE and LABOCANNA
-0.12 | Correlation Coefficient |
Good diversification
The 3 months correlation between UNIQA and LABOCANNA is -0.12. Overlapping area represents the amount of risk that can be diversified away by holding UNIQA INSURANCE GR and LABOCANNA SA ZY 10 in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on LABOCANNA SA ZY and UNIQA 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 UNIQA INSURANCE GR are associated (or correlated) with LABOCANNA. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of LABOCANNA SA ZY has no effect on the direction of UNIQA INSURANCE i.e., UNIQA INSURANCE and LABOCANNA go up and down completely randomly.
Pair Corralation between UNIQA INSURANCE and LABOCANNA
Assuming the 90 days trading horizon UNIQA INSURANCE GR is expected to generate 0.92 times more return on investment than LABOCANNA. However, UNIQA INSURANCE GR is 1.08 times less risky than LABOCANNA. It trades about 0.06 of its potential returns per unit of risk. LABOCANNA SA ZY 10 is currently generating about -0.1 per unit of risk. If you would invest 1,170 in UNIQA INSURANCE GR on July 20, 2025 and sell it today you would earn a total of 72.00 from holding UNIQA INSURANCE GR or generate 6.15% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
UNIQA INSURANCE GR vs. LABOCANNA SA ZY 10
Performance |
| Timeline |
| UNIQA INSURANCE GR |
| LABOCANNA SA ZY |
UNIQA INSURANCE and LABOCANNA Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with UNIQA INSURANCE and LABOCANNA
The main advantage of trading using opposite UNIQA INSURANCE and LABOCANNA positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if UNIQA INSURANCE position performs unexpectedly, LABOCANNA 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 LABOCANNA will offset losses from the drop in LABOCANNA's long position.| UNIQA INSURANCE vs. Pebblebrook Hotel Trust | UNIQA INSURANCE vs. Zoom Video Communications | UNIQA INSURANCE vs. Hana Microelectronics PCL | UNIQA INSURANCE vs. MIRAMAR HOTEL INV |
| LABOCANNA vs. Zijin Mining Group | LABOCANNA vs. Reinsurance Group of | LABOCANNA vs. The Peoples Insurance | LABOCANNA vs. Perseus Mining Limited |
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 Content Syndication module to quickly integrate customizable finance content to your own investment portal.
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