Correlation Between National Western and FG Annuities
Can any of the company-specific risk be diversified away by investing in both National Western and FG Annuities 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 National Western and FG Annuities into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between National Western Life and FG Annuities Life, you can compare the effects of market volatilities on National Western and FG Annuities 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 National Western with a short position of FG Annuities. Check out your portfolio center. Please also check ongoing floating volatility patterns of National Western and FG Annuities.
Diversification Opportunities for National Western and FG Annuities
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between National and FG Annuities is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding National Western Life and FG Annuities Life in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on FG Annuities Life and National Western 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 National Western Life are associated (or correlated) with FG Annuities. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of FG Annuities Life has no effect on the direction of National Western i.e., National Western and FG Annuities go up and down completely randomly.
Pair Corralation between National Western and FG Annuities
If you would invest 4,240 in FG Annuities Life on September 23, 2024 and sell it today you would lose (63.00) from holding FG Annuities Life or give up 1.49% of portfolio value over 90 days.
Time Period | 3 Months [change] |
Direction | Flat |
Strength | Insignificant |
Accuracy | 1.54% |
Values | Daily Returns |
National Western Life vs. FG Annuities Life
Performance |
Timeline |
National Western Life |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
FG Annuities Life |
National Western and FG Annuities Volatility Contrast
Predicted Return Density |
Returns |
Pair Trading with National Western and FG Annuities
The main advantage of trading using opposite National Western and FG Annuities positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if National Western position performs unexpectedly, FG Annuities 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 FG Annuities will offset losses from the drop in FG Annuities' long position.National Western vs. MetLife Preferred Stock | ||
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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 Risk-Return Analysis module to view associations between returns expected from investment and the risk you assume.
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