Correlation Between AmTrust Financial and HUNTINGTON
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By analyzing existing cross correlation between AmTrust Financial Services and HUNTINGTON BANCSHARES INC, you can compare the effects of market volatilities on AmTrust Financial and HUNTINGTON 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 AmTrust Financial with a short position of HUNTINGTON. Check out your portfolio center. Please also check ongoing floating volatility patterns of AmTrust Financial and HUNTINGTON.
Diversification Opportunities for AmTrust Financial and HUNTINGTON
0.08 | Correlation Coefficient |
Significant diversification
The 3 months correlation between AmTrust and HUNTINGTON is 0.08. Overlapping area represents the amount of risk that can be diversified away by holding AmTrust Financial Services and HUNTINGTON BANCSHARES INC in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on HUNTINGTON BANCSHARES INC and AmTrust Financial 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 AmTrust Financial Services are associated (or correlated) with HUNTINGTON. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of HUNTINGTON BANCSHARES INC has no effect on the direction of AmTrust Financial i.e., AmTrust Financial and HUNTINGTON go up and down completely randomly.
Pair Corralation between AmTrust Financial and HUNTINGTON
Assuming the 90 days horizon AmTrust Financial Services is expected to generate 4.76 times more return on investment than HUNTINGTON. However, AmTrust Financial is 4.76 times more volatile than HUNTINGTON BANCSHARES INC. It trades about 0.03 of its potential returns per unit of risk. HUNTINGTON BANCSHARES INC is currently generating about 0.0 per unit of risk. If you would invest 1,143 in AmTrust Financial Services on October 4, 2024 and sell it today you would earn a total of 307.00 from holding AmTrust Financial Services or generate 26.86% return on investment over 90 days.
Time Period | 3 Months [change] |
Direction | Moves Together |
Strength | Insignificant |
Accuracy | 96.16% |
Values | Daily Returns |
AmTrust Financial Services vs. HUNTINGTON BANCSHARES INC
Performance |
Timeline |
AmTrust Financial |
HUNTINGTON BANCSHARES INC |
AmTrust Financial and HUNTINGTON Volatility Contrast
Predicted Return Density |
Returns |
Pair Trading with AmTrust Financial and HUNTINGTON
The main advantage of trading using opposite AmTrust Financial and HUNTINGTON positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if AmTrust Financial position performs unexpectedly, HUNTINGTON 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 HUNTINGTON will offset losses from the drop in HUNTINGTON's long position.AmTrust Financial vs. AmTrust Financial Services | AmTrust Financial vs. AmTrust Financial Services | AmTrust Financial vs. AmTrust Financial Services | AmTrust Financial vs. AmTrust Financial Services |
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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 Odds Of Bankruptcy module to get analysis of equity chance of financial distress in the next 2 years.
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