Correlation Between INTNED and Employers Holdings
Specify exactly 2 symbols:
By analyzing existing cross correlation between INTNED 61032 28 MAR 26 and Employers Holdings, you can compare the effects of market volatilities on INTNED and Employers Holdings 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 INTNED with a short position of Employers Holdings. Check out your portfolio center. Please also check ongoing floating volatility patterns of INTNED and Employers Holdings.
Diversification Opportunities for INTNED and Employers Holdings
-0.18 | Correlation Coefficient |
Good diversification
The 3 months correlation between INTNED and Employers is -0.18. Overlapping area represents the amount of risk that can be diversified away by holding INTNED 61032 28 MAR 26 and Employers Holdings in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Employers Holdings and INTNED 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 INTNED 61032 28 MAR 26 are associated (or correlated) with Employers Holdings. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Employers Holdings has no effect on the direction of INTNED i.e., INTNED and Employers Holdings go up and down completely randomly.
Pair Corralation between INTNED and Employers Holdings
Assuming the 90 days trading horizon INTNED 61032 28 MAR 26 is expected to under-perform the Employers Holdings. But the bond apears to be less risky and, when comparing its historical volatility, INTNED 61032 28 MAR 26 is 2.44 times less risky than Employers Holdings. The bond trades about -0.01 of its potential returns per unit of risk. The Employers Holdings is currently generating about 0.04 of returns per unit of risk over similar time horizon. If you would invest 4,091 in Employers Holdings on September 20, 2024 and sell it today you would earn a total of 1,057 from holding Employers Holdings or generate 25.84% return on investment over 90 days.
Time Period | 3 Months [change] |
Direction | Moves Against |
Strength | Insignificant |
Accuracy | 46.26% |
Values | Daily Returns |
INTNED 61032 28 MAR 26 vs. Employers Holdings
Performance |
Timeline |
INTNED 61032 28 |
Employers Holdings |
INTNED and Employers Holdings Volatility Contrast
Predicted Return Density |
Returns |
Pair Trading with INTNED and Employers Holdings
The main advantage of trading using opposite INTNED and Employers Holdings positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if INTNED position performs unexpectedly, Employers Holdings 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 Employers Holdings will offset losses from the drop in Employers Holdings' long position.INTNED vs. Employers Holdings | INTNED vs. Precision Drilling | INTNED vs. Noble plc | INTNED vs. Cincinnati Financial |
Employers Holdings vs. AMERISAFE | Employers Holdings vs. NMI Holdings | Employers Holdings vs. Essent Group | Employers Holdings vs. MGIC Investment Corp |
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 Sectors module to list of equity sectors categorizing publicly traded companies based on their primary business activities.
Other Complementary Tools
Pattern Recognition Use different Pattern Recognition models to time the market across multiple global exchanges | |
ETF Categories List of ETF categories grouped based on various criteria, such as the investment strategy or type of investments | |
Analyst Advice Analyst recommendations and target price estimates broken down by several categories | |
Money Managers Screen money managers from public funds and ETFs managed around the world | |
Top Crypto Exchanges Search and analyze digital assets across top global cryptocurrency exchanges |