Correlation Between FIDSON HEALTHCARE and CONSOLIDATED HALLMARK
Specify exactly 2 symbols:
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
0.01 | Correlation Coefficient |
Significant diversification
The 3 months correlation between FIDSON and CONSOLIDATED is 0.01. 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 PLC is expected to generate 0.6 times more return on investment than CONSOLIDATED HALLMARK. However, FIDSON HEALTHCARE PLC is 1.68 times less risky than CONSOLIDATED HALLMARK. It trades about 0.24 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 2,785 in FIDSON HEALTHCARE PLC on May 27, 2025 and sell it today you would earn a total of 1,515 from holding FIDSON HEALTHCARE PLC or generate 54.4% return on investment over 90 days.
Time Period | 3 Months [change] |
Direction | Moves Together |
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. NEM INSURANCE PLC | FIDSON HEALTHCARE vs. MULTI TREX INTEGRATED FOODS | FIDSON HEALTHCARE vs. STACO INSURANCE PLC | FIDSON HEALTHCARE vs. BUA FOODS PLC |
CONSOLIDATED HALLMARK vs. NEM INSURANCE PLC | CONSOLIDATED HALLMARK vs. NIGERIAN BREWERIES PLC | CONSOLIDATED HALLMARK vs. INDUSTRIAL MEDICAL GASES | CONSOLIDATED HALLMARK vs. STACO INSURANCE PLC |
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 AI Portfolio Prophet module to use AI to generate optimal portfolios and find profitable investment opportunities.
Other Complementary Tools
Idea Analyzer Analyze all characteristics, volatility and risk-adjusted return of Macroaxis ideas | |
Options Analysis Analyze and evaluate options and option chains as a potential hedge for your portfolios | |
Competition Analyzer Analyze and compare many basic indicators for a group of related or unrelated entities | |
Stock Tickers Use high-impact, comprehensive, and customizable stock tickers that can be easily integrated to any websites | |
Portfolio Manager State of the art Portfolio Manager to monitor and improve performance of your invested capital |