Correlation Between UNITY BANK and UNIVERSAL INSURANCE
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By analyzing existing cross correlation between UNITY BANK PLC and UNIVERSAL INSURANCE PANY, you can compare the effects of market volatilities on UNITY BANK and UNIVERSAL 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 UNIVERSAL INSURANCE. Check out your portfolio center. Please also check ongoing floating volatility patterns of UNITY BANK and UNIVERSAL INSURANCE.
Diversification Opportunities for UNITY BANK and UNIVERSAL INSURANCE
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between UNITY and UNIVERSAL is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding UNITY BANK PLC and UNIVERSAL INSURANCE PANY in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on UNIVERSAL INSURANCE PANY 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 UNIVERSAL INSURANCE. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of UNIVERSAL INSURANCE PANY has no effect on the direction of UNITY BANK i.e., UNITY BANK and UNIVERSAL INSURANCE go up and down completely randomly.
Pair Corralation between UNITY BANK and UNIVERSAL INSURANCE
If you would invest 52.00 in UNIVERSAL INSURANCE PANY on May 31, 2025 and sell it today you would earn a total of 76.00 from holding UNIVERSAL INSURANCE PANY or generate 146.15% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
UNITY BANK PLC vs. UNIVERSAL INSURANCE PANY
Performance |
| Timeline |
| UNITY BANK PLC |
| UNIVERSAL INSURANCE PANY |
UNITY BANK and UNIVERSAL INSURANCE Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with UNITY BANK and UNIVERSAL INSURANCE
The main advantage of trading using opposite UNITY BANK and UNIVERSAL INSURANCE positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if UNITY BANK position performs unexpectedly, UNIVERSAL 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 UNIVERSAL INSURANCE will offset losses from the drop in UNIVERSAL INSURANCE's long position.| UNITY BANK vs. GUINEA INSURANCE PLC | UNITY BANK vs. ALUMINIUM EXTRUSION IND | UNITY BANK vs. VITAFOAM NIGERIA PLC | UNITY BANK vs. SECURE ELECTRONIC TECHNOLOGY |
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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 Sign In To Macroaxis module to sign in to explore Macroaxis' wealth optimization platform and fintech modules.
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