Correlation Between UNIQA Insurance and UNIQA Insurance

Can any of the company-specific risk be diversified away by investing in both UNIQA Insurance and UNIQA Insurance 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 UNIQA Insurance and UNIQA Insurance into the same portfolio, which is an essential part of the fundamental portfolio management process.

By analyzing existing cross correlation between UNIQA Insurance Group and UNIQA Insurance Group, you can compare the effects of market volatilities on UNIQA Insurance and UNIQA Insurance 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 UNIQA Insurance with a short position of UNIQA Insurance. Check out your portfolio center. Please also check ongoing floating volatility patterns of UNIQA Insurance and UNIQA Insurance.

Diversification Opportunities for UNIQA Insurance and UNIQA Insurance

0.0

Correlation Coefficient

UNIQA Insurance  UNIQA Insurance

Pay attention - limited upside

The 3 months correlation between UNIQA and UNIQA is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding UNIQA Insurance Group and UNIQA Insurance Group in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on UNIQA Insurance Group and UNIQA Insurance 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 UNIQA Insurance Group are associated (or correlated) with UNIQA Insurance. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of UNIQA Insurance Group has no effect on the direction of UNIQA Insurance i.e., UNIQA Insurance and UNIQA Insurance go up and down completely randomly.

Pair Corralation between UNIQA Insurance and UNIQA Insurance

If you would invest  739.00  in UNIQA Insurance Group on October 7, 2024 and sell it today you would earn a total of  43.00  from holding UNIQA Insurance Group or generate 5.82% return on investment over 90 days.

Time Period	3 Months [change]
Direction	Flat
Strength	Insignificant
Accuracy	0.0%
Values	Daily Returns

UNIQA Insurance Group  vs.  UNIQA Insurance Group

UNIQA Insurance Group

Risk-Adjusted Performance

8 of 100

OK

Compared to the overall equity markets, risk-adjusted returns on investments in UNIQA Insurance Group are ranked lower than 8 (%) of all global equities and portfolios over the last 90 days. In spite of comparatively stable basic indicators, UNIQA Insurance is not utilizing all of its potentials. The recent stock price uproar, may contribute to short-horizon losses for the private investors.

UNIQA Insurance Group

Risk-Adjusted Performance

0 of 100

OK

Over the last 90 days UNIQA Insurance Group has generated negative risk-adjusted returns adding no value to investors with long positions. Despite nearly stable basic indicators, UNIQA Insurance is not utilizing all of its potentials. The current stock price disturbance, may contribute to mid-run losses for the stockholders.

Pair Trading with UNIQA Insurance and UNIQA Insurance

The main advantage of trading using opposite UNIQA Insurance and UNIQA Insurance positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if UNIQA Insurance position performs unexpectedly, UNIQA Insurance 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 UNIQA Insurance will offset losses from the drop in UNIQA Insurance's long position.

The idea behind UNIQA Insurance Group and UNIQA Insurance Group pairs trading is to make the combined position market-neutral, meaning the overall market's direction will not affect its win or loss (or potential downside or upside). This can be achieved by designing a pairs trade with two highly correlated stocks or equities that operate in a similar space or sector, making it possible to obtain profits through simple and relatively low-risk investment.

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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 Stock Tickers module to use high-impact, comprehensive, and customizable stock tickers that can be easily integrated to any websites.