Correlation Between FIDSON HEALTHCARE and CONSOLIDATED HALLMARK
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By analyzing existing cross correlation between FIDSON HEALTHCARE PLC and CONSOLIDATED HALLMARK HOLDINGS, you can compare the effects of market volatilities on FIDSON HEALTHCARE 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 FIDSON HEALTHCARE with a short position of CONSOLIDATED HALLMARK. Check out your portfolio center. Please also check ongoing floating volatility patterns of FIDSON HEALTHCARE and CONSOLIDATED HALLMARK.
Diversification Opportunities for FIDSON HEALTHCARE and CONSOLIDATED HALLMARK
-0.14 | Correlation Coefficient |
Good diversification
The 3 months correlation between FIDSON and CONSOLIDATED is -0.14. Overlapping area represents the amount of risk that can be diversified away by holding FIDSON HEALTHCARE 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 FIDSON HEALTHCARE 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 FIDSON HEALTHCARE 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 FIDSON HEALTHCARE i.e., FIDSON HEALTHCARE and CONSOLIDATED HALLMARK go up and down completely randomly.
Pair Corralation between FIDSON HEALTHCARE and CONSOLIDATED HALLMARK
Assuming the 90 days trading horizon FIDSON HEALTHCARE is expected to generate 1.17 times less return on investment than CONSOLIDATED HALLMARK. But when comparing it to its historical volatility, FIDSON HEALTHCARE PLC is 1.62 times less risky than CONSOLIDATED HALLMARK. It trades about 0.26 of its potential returns per unit of risk. CONSOLIDATED HALLMARK HOLDINGS is currently generating about 0.19 of returns per unit of risk over similar time horizon. If you would invest 300.00 in CONSOLIDATED HALLMARK HOLDINGS on May 21, 2025 and sell it today you would earn a total of 191.00 from holding CONSOLIDATED HALLMARK HOLDINGS or generate 63.67% return on investment over 90 days.
Time Period | 3 Months [change] |
Direction | Moves Against |
Strength | Insignificant |
Accuracy | 100.0% |
Values | Daily Returns |
FIDSON HEALTHCARE PLC vs. CONSOLIDATED HALLMARK HOLDINGS
Performance |
Timeline |
FIDSON HEALTHCARE PLC |
CONSOLIDATED HALLMARK |
FIDSON HEALTHCARE and CONSOLIDATED HALLMARK Volatility Contrast
Predicted Return Density |
Returns |
Pair Trading with FIDSON HEALTHCARE and CONSOLIDATED HALLMARK
The main advantage of trading using opposite FIDSON HEALTHCARE and CONSOLIDATED HALLMARK positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if FIDSON HEALTHCARE 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.FIDSON HEALTHCARE vs. STACO INSURANCE PLC | FIDSON HEALTHCARE vs. ECOBANK TRANSNATIONAL INCORPORATED | FIDSON HEALTHCARE vs. NEM INSURANCE PLC | FIDSON HEALTHCARE vs. FIDELITY BANK 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 Efficient Frontier module to plot and analyze your portfolio and positions against risk-return landscape of the market..
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