Correlation Between CONOIL PLC and CONSOLIDATED HALLMARK

Can any of the company-specific risk be diversified away by investing in both CONOIL PLC and CONSOLIDATED HALLMARK at the same time? Although using a correlation coefficient on its own may not help to predict future stock returns, this module helps to understand the diversifiable risk of combining CONOIL PLC and CONSOLIDATED HALLMARK into the same portfolio, which is an essential part of the fundamental portfolio management process.

By analyzing existing cross correlation between CONOIL PLC and CONSOLIDATED HALLMARK HOLDINGS, you can compare the effects of market volatilities on CONOIL PLC 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 CONOIL PLC with a short position of CONSOLIDATED HALLMARK. Check out your portfolio center. Please also check ongoing floating volatility patterns of CONOIL PLC and CONSOLIDATED HALLMARK.

Diversification Opportunities for CONOIL PLC and CONSOLIDATED HALLMARK

0.0

Correlation Coefficient

CONOIL PLC  CONSOLIDATED HALLMARK

Pay attention - limited upside

The 3 months correlation between CONOIL and CONSOLIDATED is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding CONOIL 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 CONOIL PLC 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 CONOIL 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 CONOIL PLC i.e., CONOIL PLC and CONSOLIDATED HALLMARK go up and down completely randomly.

Pair Corralation between CONOIL PLC and CONSOLIDATED HALLMARK

If you would invest (100.00) in CONSOLIDATED HALLMARK HOLDINGS on July 1, 2025 and sell it today you would earn a total of  100.00  from holding CONSOLIDATED HALLMARK HOLDINGS or generate -100.0% return on investment over 90 days.

Time Period	3 Months [change]
Direction	Flat
Strength	Insignificant
Accuracy	100.0%
Values	Daily Returns

CONOIL PLC  vs.  CONSOLIDATED HALLMARK HOLDINGS

CONOIL PLC

Risk-Adjusted Performance

Weakest

Over the last 90 days CONOIL PLC has generated negative risk-adjusted returns adding no value to investors with long positions. Despite somewhat strong forward indicators, CONOIL PLC is not utilizing all of its potentials. The current stock price disturbance, may contribute to short-term losses for the investors.

CONSOLIDATED HALLMARK

Risk-Adjusted Performance

Weakest

Over the last 90 days CONSOLIDATED HALLMARK HOLDINGS has generated negative risk-adjusted returns adding no value to investors with long positions. Despite quite persistent essential indicators, CONSOLIDATED HALLMARK is not utilizing all of its potentials. The current stock price mess, may contribute to short-term losses for the institutional investors.

Pair Trading with CONOIL PLC and CONSOLIDATED HALLMARK

The main advantage of trading using opposite CONOIL PLC and CONSOLIDATED HALLMARK positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if CONOIL PLC 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.

The idea behind CONOIL PLC and CONSOLIDATED HALLMARK HOLDINGS pairs trading is to make the combined position market-neutral, meaning the overall market's direction will not affect its win or loss (or potential downside or upside). This can be achieved by designing a pairs trade with two highly correlated stocks or equities that operate in a similar space or sector, making it possible to obtain profits through simple and relatively low-risk investment.

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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 Bonds Directory module to find actively traded corporate debentures issued by US companies.