Correlation Between LIVINGTRUST MORTGAGE and FIDELITY BANK
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By analyzing existing cross correlation between LIVINGTRUST MORTGAGE BANK and FIDELITY BANK PLC, you can compare the effects of market volatilities on LIVINGTRUST MORTGAGE and FIDELITY BANK 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 LIVINGTRUST MORTGAGE with a short position of FIDELITY BANK. Check out your portfolio center. Please also check ongoing floating volatility patterns of LIVINGTRUST MORTGAGE and FIDELITY BANK.
Diversification Opportunities for LIVINGTRUST MORTGAGE and FIDELITY BANK
0.5 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between LIVINGTRUST and FIDELITY is 0.5. Overlapping area represents the amount of risk that can be diversified away by holding LIVINGTRUST MORTGAGE BANK and FIDELITY BANK PLC in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on FIDELITY BANK PLC and LIVINGTRUST MORTGAGE 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 LIVINGTRUST MORTGAGE BANK are associated (or correlated) with FIDELITY BANK. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of FIDELITY BANK PLC has no effect on the direction of LIVINGTRUST MORTGAGE i.e., LIVINGTRUST MORTGAGE and FIDELITY BANK go up and down completely randomly.
Pair Corralation between LIVINGTRUST MORTGAGE and FIDELITY BANK
Assuming the 90 days trading horizon LIVINGTRUST MORTGAGE BANK is expected to generate 1.1 times more return on investment than FIDELITY BANK. However, LIVINGTRUST MORTGAGE is 1.1 times more volatile than FIDELITY BANK PLC. It trades about 0.19 of its potential returns per unit of risk. FIDELITY BANK PLC is currently generating about 0.05 per unit of risk. If you would invest 481.00 in LIVINGTRUST MORTGAGE BANK on May 5, 2025 and sell it today you would earn a total of 178.00 from holding LIVINGTRUST MORTGAGE BANK or generate 37.01% return on investment over 90 days.
Time Period | 3 Months [change] |
Direction | Moves Together |
Strength | Weak |
Accuracy | 100.0% |
Values | Daily Returns |
LIVINGTRUST MORTGAGE BANK vs. FIDELITY BANK PLC
Performance |
Timeline |
LIVINGTRUST MORTGAGE BANK |
FIDELITY BANK PLC |
LIVINGTRUST MORTGAGE and FIDELITY BANK Volatility Contrast
Predicted Return Density |
Returns |
Pair Trading with LIVINGTRUST MORTGAGE and FIDELITY BANK
The main advantage of trading using opposite LIVINGTRUST MORTGAGE and FIDELITY BANK positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if LIVINGTRUST MORTGAGE position performs unexpectedly, FIDELITY BANK 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 FIDELITY BANK will offset losses from the drop in FIDELITY BANK's long position.LIVINGTRUST MORTGAGE vs. CORONATION INSURANCE PLC | LIVINGTRUST MORTGAGE vs. FIDSON HEALTHCARE PLC | LIVINGTRUST MORTGAGE vs. CONSOLIDATED HALLMARK INSURANCE | LIVINGTRUST MORTGAGE vs. WEMA 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 Price Exposure Probability module to analyze equity upside and downside potential for a given time horizon across multiple markets.
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