Correlation Between Atlas Financial and Chubb
Can any of the company-specific risk be diversified away by investing in both Atlas Financial and Chubb 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 Atlas Financial and Chubb into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Atlas Financial Holdings and Chubb, you can compare the effects of market volatilities on Atlas Financial and Chubb 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 Atlas Financial with a short position of Chubb. Check out your portfolio center. Please also check ongoing floating volatility patterns of Atlas Financial and Chubb.
Diversification Opportunities for Atlas Financial and Chubb
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Atlas and Chubb is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Atlas Financial Holdings and Chubb in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Chubb and Atlas 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 Atlas Financial Holdings are associated (or correlated) with Chubb. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Chubb has no effect on the direction of Atlas Financial i.e., Atlas Financial and Chubb go up and down completely randomly.
Pair Corralation between Atlas Financial and Chubb
If you would invest 18,774 in Chubb on January 25, 2024 and sell it today you would earn a total of 5,527 from holding Chubb or generate 29.44% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 0.0% |
| Values | Daily Returns |
Atlas Financial Holdings vs. Chubb
Performance |
| Timeline |
| Atlas Financial Holdings |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
| Chubb |
Atlas Financial and Chubb Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Atlas Financial and Chubb
The main advantage of trading using opposite Atlas Financial and Chubb positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Atlas Financial position performs unexpectedly, Chubb 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 Chubb will offset losses from the drop in Chubb's long position.| Atlas Financial vs. United Rentals | Atlas Financial vs. Broadstone Net LeaseInc | Atlas Financial vs. Fortress Transp Infra | Atlas Financial vs. Cementos Pacasmayo SAA |
| Chubb vs. Cincinnati Financial | Chubb vs. Aflac Incorporated | Chubb vs. Dover | Chubb vs. Franklin Resources |
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 Transaction History module to view history of all your transactions and understand their impact on performance.
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