Correlation Between CORONATION INSURANCE and ASO SAVINGS
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By analyzing existing cross correlation between CORONATION INSURANCE PLC and ASO SAVINGS AND, you can compare the effects of market volatilities on CORONATION INSURANCE and ASO SAVINGS 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 CORONATION INSURANCE with a short position of ASO SAVINGS. Check out your portfolio center. Please also check ongoing floating volatility patterns of CORONATION INSURANCE and ASO SAVINGS.
Diversification Opportunities for CORONATION INSURANCE and ASO SAVINGS
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between CORONATION and ASO is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding CORONATION INSURANCE PLC and ASO SAVINGS AND in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on ASO SAVINGS AND and CORONATION 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 CORONATION INSURANCE PLC are associated (or correlated) with ASO SAVINGS. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of ASO SAVINGS AND has no effect on the direction of CORONATION INSURANCE i.e., CORONATION INSURANCE and ASO SAVINGS go up and down completely randomly.
Pair Corralation between CORONATION INSURANCE and ASO SAVINGS
If you would invest 195.00 in CORONATION INSURANCE PLC on April 7, 2025 and sell it today you would earn a total of 55.00 from holding CORONATION INSURANCE PLC or generate 28.21% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
CORONATION INSURANCE PLC vs. ASO SAVINGS AND
Performance |
| Timeline |
| CORONATION INSURANCE PLC |
| ASO SAVINGS AND |
CORONATION INSURANCE and ASO SAVINGS Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with CORONATION INSURANCE and ASO SAVINGS
The main advantage of trading using opposite CORONATION INSURANCE and ASO SAVINGS positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if CORONATION INSURANCE position performs unexpectedly, ASO SAVINGS 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 ASO SAVINGS will offset losses from the drop in ASO SAVINGS's long position.| CORONATION INSURANCE vs. INTERNATIONAL ENERGY INSURANCE | CORONATION INSURANCE vs. CORNERSTONE INSURANCE PLC | CORONATION INSURANCE vs. TRANSCORP HOTELS PLC | CORONATION INSURANCE vs. WEMA BANK PLC |
| ASO SAVINGS vs. STERLING FINANCIAL HOLDINGS | ASO SAVINGS vs. UNIVERSAL INSURANCE PANY | ASO SAVINGS vs. INTERNATIONAL ENERGY INSURANCE | ASO SAVINGS vs. AIICO INSURANCE 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 Earnings Calls module to check upcoming earnings announcements updated hourly across public exchanges.
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