Correlation Between UNIQA Insurance and Abrdn Property
Can any of the company-specific risk be diversified away by investing in both UNIQA Insurance and Abrdn Property 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 Abrdn Property 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 abrdn Property Income, you can compare the effects of market volatilities on UNIQA Insurance and Abrdn Property 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 Abrdn Property. Check out your portfolio center. Please also check ongoing floating volatility patterns of UNIQA Insurance and Abrdn Property.
Diversification Opportunities for UNIQA Insurance and Abrdn Property
-0.78 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between UNIQA and Abrdn is -0.78. Overlapping area represents the amount of risk that can be diversified away by holding UNIQA Insurance Group and abrdn Property Income in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on abrdn Property Income 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 Abrdn Property. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of abrdn Property Income has no effect on the direction of UNIQA Insurance i.e., UNIQA Insurance and Abrdn Property go up and down completely randomly.
Pair Corralation between UNIQA Insurance and Abrdn Property
Assuming the 90 days trading horizon UNIQA Insurance Group is expected to generate 0.61 times more return on investment than Abrdn Property. However, UNIQA Insurance Group is 1.63 times less risky than Abrdn Property. It trades about 0.21 of its potential returns per unit of risk. abrdn Property Income is currently generating about -0.08 per unit of risk. If you would invest 957.00 in UNIQA Insurance Group on April 23, 2025 and sell it today you would earn a total of 214.00 from holding UNIQA Insurance Group or generate 22.36% return on investment over 90 days.
Time Period | 3 Months [change] |
Direction | Moves Against |
Strength | Weak |
Accuracy | 100.0% |
Values | Daily Returns |
UNIQA Insurance Group vs. abrdn Property Income
Performance |
Timeline |
UNIQA Insurance Group |
abrdn Property Income |
UNIQA Insurance and Abrdn Property Volatility Contrast
Predicted Return Density |
Returns |
Pair Trading with UNIQA Insurance and Abrdn Property
The main advantage of trading using opposite UNIQA Insurance and Abrdn Property positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if UNIQA Insurance position performs unexpectedly, Abrdn Property 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 Abrdn Property will offset losses from the drop in Abrdn Property's long position.UNIQA Insurance vs. Golden Metal Resources | UNIQA Insurance vs. Griffin Mining | UNIQA Insurance vs. EVS Broadcast Equipment | UNIQA Insurance vs. Resolute Mining Limited |
Abrdn Property vs. Grieg Seafood | Abrdn Property vs. Scandic Hotels Group | Abrdn Property vs. UNIQA Insurance Group | Abrdn Property vs. Synchrony Financial |
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 FinTech Suite module to use AI to screen and filter profitable investment opportunities.
Other Complementary Tools
Investing Opportunities Build portfolios using our predefined set of ideas and optimize them against your investing preferences | |
Portfolio Comparator Compare the composition, asset allocations and performance of any two portfolios in your account | |
Top Crypto Exchanges Search and analyze digital assets across top global cryptocurrency exchanges | |
ETF Categories List of ETF categories grouped based on various criteria, such as the investment strategy or type of investments | |
Portfolio Backtesting Avoid under-diversification and over-optimization by backtesting your portfolios |