Correlation Between CORONATION INSURANCE and CONSOLIDATED HALLMARK
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By analyzing existing cross correlation between CORONATION INSURANCE PLC and CONSOLIDATED HALLMARK HOLDINGS, you can compare the effects of market volatilities on CORONATION INSURANCE and CONSOLIDATED HALLMARK 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 CONSOLIDATED HALLMARK. Check out your portfolio center. Please also check ongoing floating volatility patterns of CORONATION INSURANCE and CONSOLIDATED HALLMARK.
Diversification Opportunities for CORONATION INSURANCE and CONSOLIDATED HALLMARK
0.97 | Correlation Coefficient |
Almost no diversification
The 3 months correlation between CORONATION and CONSOLIDATED is 0.97. Overlapping area represents the amount of risk that can be diversified away by holding CORONATION INSURANCE PLC and CONSOLIDATED HALLMARK HOLDINGS in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on CONSOLIDATED HALLMARK 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 CONSOLIDATED HALLMARK. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of CONSOLIDATED HALLMARK has no effect on the direction of CORONATION INSURANCE i.e., CORONATION INSURANCE and CONSOLIDATED HALLMARK go up and down completely randomly.
Pair Corralation between CORONATION INSURANCE and CONSOLIDATED HALLMARK
Assuming the 90 days trading horizon CORONATION INSURANCE PLC is expected to generate 1.11 times more return on investment than CONSOLIDATED HALLMARK. However, CORONATION INSURANCE is 1.11 times more volatile than CONSOLIDATED HALLMARK HOLDINGS. It trades about 0.19 of its potential returns per unit of risk. CONSOLIDATED HALLMARK HOLDINGS is currently generating about 0.13 per unit of risk. If you would invest 200.00 in CORONATION INSURANCE PLC on May 30, 2025 and sell it today you would earn a total of 150.00 from holding CORONATION INSURANCE PLC or generate 75.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Strong |
| Accuracy | 98.36% |
| Values | Daily Returns |
CORONATION INSURANCE PLC vs. CONSOLIDATED HALLMARK HOLDINGS
Performance |
| Timeline |
| CORONATION INSURANCE PLC |
| CONSOLIDATED HALLMARK |
CORONATION INSURANCE and CONSOLIDATED HALLMARK Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with CORONATION INSURANCE and CONSOLIDATED HALLMARK
The main advantage of trading using opposite CORONATION INSURANCE and CONSOLIDATED HALLMARK positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if CORONATION INSURANCE position performs unexpectedly, CONSOLIDATED HALLMARK 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 CONSOLIDATED HALLMARK will offset losses from the drop in CONSOLIDATED HALLMARK's long position.| CORONATION INSURANCE vs. UNITED BANK FOR | CORONATION INSURANCE vs. STERLING FINANCIAL HOLDINGS | CORONATION INSURANCE vs. STACO INSURANCE PLC | CORONATION INSURANCE vs. AFROMEDIA PLC |
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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 Equity Forecasting module to use basic forecasting models to generate price predictions and determine price momentum.
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