Correlation Between CORONATION INSURANCE and C I
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By analyzing existing cross correlation between CORONATION INSURANCE PLC and C I LEASING, you can compare the effects of market volatilities on CORONATION 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 CORONATION INSURANCE with a short position of C I. Check out your portfolio center. Please also check ongoing floating volatility patterns of CORONATION INSURANCE and C I.
Diversification Opportunities for CORONATION INSURANCE and C I
-0.17 | Correlation Coefficient |
Good diversification
The 3 months correlation between CORONATION and CILEASING is -0.17. Overlapping area represents the amount of risk that can be diversified away by holding CORONATION INSURANCE PLC 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 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 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 CORONATION INSURANCE i.e., CORONATION INSURANCE and C I go up and down completely randomly.
Pair Corralation between CORONATION INSURANCE and C I
Assuming the 90 days trading horizon CORONATION INSURANCE is expected to generate 5.85 times less return on investment than C I. But when comparing it to its historical volatility, CORONATION INSURANCE PLC is 1.22 times less risky than C I. It trades about 0.03 of its potential returns per unit of risk. C I LEASING is currently generating about 0.13 of returns per unit of risk over similar time horizon. If you would invest 373.00 in C I LEASING on April 3, 2025 and sell it today you would earn a total of 133.00 from holding C I LEASING or generate 35.66% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
CORONATION INSURANCE PLC vs. C I LEASING
Performance |
| Timeline |
| CORONATION INSURANCE PLC |
| C I LEASING |
CORONATION INSURANCE and C I Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with CORONATION INSURANCE and C I
The main advantage of trading using opposite CORONATION INSURANCE and C I positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if CORONATION 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.| CORONATION INSURANCE vs. GUINEA INSURANCE PLC | CORONATION INSURANCE vs. VITAFOAM NIGERIA PLC | CORONATION INSURANCE vs. UPDC PLC | CORONATION INSURANCE vs. VFD GROUP |
| C I vs. CORONATION INSURANCE PLC | C I vs. AIICO INSURANCE PLC | C I vs. FIDELITY BANK PLC | C I vs. SOVEREIGN TRUST INSURANCE |
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 FinTech Suite module to use AI to screen and filter profitable investment opportunities.
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