Correlation Between UNITY BANK and STACO INSURANCE
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By analyzing existing cross correlation between UNITY BANK PLC and STACO INSURANCE PLC, you can compare the effects of market volatilities on UNITY BANK and STACO INSURANCE 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 UNITY BANK with a short position of STACO INSURANCE. Check out your portfolio center. Please also check ongoing floating volatility patterns of UNITY BANK and STACO INSURANCE.
Diversification Opportunities for UNITY BANK and STACO INSURANCE
1.0 | Correlation Coefficient |
No risk reduction
The 3 months correlation between UNITY and STACO is 1.0. Overlapping area represents the amount of risk that can be diversified away by holding UNITY BANK PLC and STACO INSURANCE PLC in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on STACO INSURANCE PLC and UNITY 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 UNITY BANK PLC are associated (or correlated) with STACO INSURANCE. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of STACO INSURANCE PLC has no effect on the direction of UNITY BANK i.e., UNITY BANK and STACO INSURANCE go up and down completely randomly.
Pair Corralation between UNITY BANK and STACO INSURANCE
If you would invest 48.00 in STACO INSURANCE PLC on April 19, 2025 and sell it today you would earn a total of 0.00 from holding STACO INSURANCE PLC or generate 0.0% return on investment over 90 days.
Time Period | 3 Months [change] |
Direction | Moves Together |
Strength | Very Strong |
Accuracy | 100.0% |
Values | Daily Returns |
UNITY BANK PLC vs. STACO INSURANCE PLC
Performance |
Timeline |
UNITY BANK PLC |
STACO INSURANCE PLC |
UNITY BANK and STACO INSURANCE Volatility Contrast
Predicted Return Density |
Returns |
Pair Trading with UNITY BANK and STACO INSURANCE
The main advantage of trading using opposite UNITY BANK and STACO INSURANCE positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if UNITY BANK position performs unexpectedly, STACO INSURANCE 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 STACO INSURANCE will offset losses from the drop in STACO INSURANCE's long position.UNITY BANK vs. CUSTODIAN INVESTMENT PLC | UNITY BANK vs. CONSOLIDATED HALLMARK INSURANCE | UNITY BANK vs. AIICO INSURANCE PLC | UNITY BANK vs. NEM INSURANCE PLC |
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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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