Correlation Between UNITY BANK and WEMA BANK
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By analyzing existing cross correlation between UNITY BANK PLC and WEMA BANK PLC, you can compare the effects of market volatilities on UNITY BANK and WEMA BANK 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 WEMA BANK. Check out your portfolio center. Please also check ongoing floating volatility patterns of UNITY BANK and WEMA BANK.
Diversification Opportunities for UNITY BANK and WEMA BANK
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between UNITY and WEMA is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding UNITY BANK PLC and WEMA BANK PLC in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on WEMA BANK 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 WEMA BANK. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of WEMA BANK PLC has no effect on the direction of UNITY BANK i.e., UNITY BANK and WEMA BANK go up and down completely randomly.
Pair Corralation between UNITY BANK and WEMA BANK
If you would invest 151.00 in UNITY BANK PLC on September 11, 2025 and sell it today you would earn a total of 0.00 from holding UNITY BANK PLC or generate 0.0% 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. WEMA BANK PLC
Performance |
| Timeline |
| UNITY BANK PLC |
| WEMA BANK PLC |
UNITY BANK and WEMA BANK Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with UNITY BANK and WEMA BANK
The main advantage of trading using opposite UNITY BANK and WEMA BANK positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if UNITY BANK position performs unexpectedly, WEMA BANK 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 WEMA BANK will offset losses from the drop in WEMA BANK's long position.| UNITY BANK vs. AFRICAN ALLIANCE INSURANCE | UNITY BANK vs. VETIVA BANKING ETF | UNITY BANK vs. AXAMANSARD INSURANCE PLC | UNITY BANK vs. FORTIS GLOBAL INSURANCE |
| WEMA BANK vs. CUSTODIAN INVESTMENT PLC | WEMA BANK vs. ABC TRANSPORT PLC | WEMA BANK vs. CORONATION INSURANCE PLC | WEMA BANK vs. NIGERIAN BREWERIES 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 Pattern Recognition module to use different Pattern Recognition models to time the market across multiple global exchanges.
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