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Correlation Between Arthur J and Aon Plc

Analyzing existing cross correlation between Arthur J Gallagher Co and Aon Plc. You can compare the effects of market volatilities on Arthur J and Aon Plc 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 Arthur J with a short position of Aon Plc. Check out your portfolio center. Please also check ongoing floating volatility patterns of Arthur J and Aon Plc.

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Diversification Opportunities for Arthur J and Aon Plc

Arthur J Gallagher Co diversification synergy
0.0
<div class='circular--portrait-small' style='background:#FCD202;color: white;font-size:1.1em;padding-top: 12px;;'>AJG</div>
<div class='circular--portrait-small' style='background:#0D8ECF;color: white;font-size:1.1em;padding-top: 12px;;'>AON</div>

Pay attention - limited upside

The 3 months correlation between Arthur and Aon Plc is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Arthur J Gallagher Co and Aon Plc in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Aon Plc and Arthur J 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 Arthur J Gallagher Co are associated (or correlated) with Aon Plc. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Aon Plc has no effect on the direction of Arthur J i.e. Arthur J and Aon Plc go up and down completely randomly.

Pair Corralation between Arthur J and Aon Plc

If you would invest  20,427  in Aon Plc on January 26, 2020 and sell it today you would earn a total of  1,903  from holding Aon Plc or generate 9.32% return on investment over 30 days.
Time Period3 Months [change]
DirectionFlat 
StrengthInsignificant
Accuracy1.64%
ValuesDaily Returns

Arthur J Gallagher Co  vs.  Aon Plc

 Performance (%) 
    
  Timeline 
Arthur J Gallagher 
00

Risk-Adjusted Performance

Over the last 30 days Arthur J Gallagher Co has generated negative risk-adjusted returns adding no value to investors with long positions. In spite of rather sound fundamental drivers, Arthur J is not utilizing all of its potentials. The current stock price tumult, may contribute to shorter-term losses for the shareholders.
Aon Plc 
1111

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Aon Plc are ranked lower than 11 (%) of all global equities and portfolios over the last 30 days. Allthough quite fragile forward indicators, Aon Plc may actually be approaching a critical reversion point that can send shares even higher in March 2020.

Arthur J and Aon Plc Volatility Contrast

 Predicted Return Density 
    
  Returns 
Check out your portfolio center. Please also try Equity Forecasting module to use basic forecasting models to generate price predictions and determine price momentum.