Correlation Between UNIVERSAL INSURANCE and C I
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By analyzing existing cross correlation between UNIVERSAL INSURANCE PANY and C I LEASING, you can compare the effects of market volatilities on UNIVERSAL INSURANCE and C I 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 UNIVERSAL INSURANCE with a short position of C I. Check out your portfolio center. Please also check ongoing floating volatility patterns of UNIVERSAL INSURANCE and C I.
Diversification Opportunities for UNIVERSAL INSURANCE and C I
0.49 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between UNIVERSAL and CILEASING is 0.49. Overlapping area represents the amount of risk that can be diversified away by holding UNIVERSAL INSURANCE PANY and C I LEASING in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on C I LEASING and UNIVERSAL 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 UNIVERSAL INSURANCE PANY are associated (or correlated) with C I. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of C I LEASING has no effect on the direction of UNIVERSAL INSURANCE i.e., UNIVERSAL INSURANCE and C I go up and down completely randomly.
Pair Corralation between UNIVERSAL INSURANCE and C I
Assuming the 90 days trading horizon UNIVERSAL INSURANCE is expected to generate 1.02 times less return on investment than C I. But when comparing it to its historical volatility, UNIVERSAL INSURANCE PANY is 1.39 times less risky than C I. It trades about 0.28 of its potential returns per unit of risk. C I LEASING is currently generating about 0.21 of returns per unit of risk over similar time horizon. If you would invest 435.00 in C I LEASING on April 1, 2025 and sell it today you would earn a total of 80.00 from holding C I LEASING or generate 18.39% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
UNIVERSAL INSURANCE PANY vs. C I LEASING
Performance |
| Timeline |
| UNIVERSAL INSURANCE PANY |
| C I LEASING |
UNIVERSAL INSURANCE and C I Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with UNIVERSAL INSURANCE and C I
The main advantage of trading using opposite UNIVERSAL INSURANCE and C I positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if UNIVERSAL INSURANCE position performs unexpectedly, C I 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 C I will offset losses from the drop in C I's long position.| UNIVERSAL INSURANCE vs. FORTIS GLOBAL INSURANCE | UNIVERSAL INSURANCE vs. AFRICAN ALLIANCE INSURANCE | UNIVERSAL INSURANCE vs. BUA FOODS PLC | UNIVERSAL INSURANCE vs. CORNERSTONE INSURANCE PLC |
| C I vs. GUINEA INSURANCE PLC | C I vs. VITAFOAM NIGERIA PLC | C I vs. SECURE ELECTRONIC TECHNOLOGY | C I vs. SFS REAL ESTATE |
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 Earnings Calls module to check upcoming earnings announcements updated hourly across public exchanges.
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