Correlation Analysis Between FGL Holdings and Globe Life

This module allows you to analyze existing cross correlation between FGL Holdings and Globe Life. You can compare the effects of market volatilities on FGL Holdings and Globe Life 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 FGL Holdings with a short position of Globe Life. See also your portfolio center. Please also check ongoing floating volatility patterns of FGL Holdings and Globe Life.
Horizon     30 Days    Login   to change
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Comparative Performance

FGL Holdings  
1111

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in FGL Holdings are ranked lower than 11 (%) of all global equities and portfolios over the last 30 days. In spite of rather sluggish fundamental drivers, FGL Holdings exhibited solid returns over the last few months and may actually be approaching a breakup point.
Globe Life  
1313

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Globe Life are ranked lower than 13 (%) of all global equities and portfolios over the last 30 days. Even with considerably unsteady technical indicators, Globe Life revealed solid returns over the last few months and may actually be approaching a breakup point.

FGL Holdings and Globe Life Volatility Contrast

 Predicted Return Density 
      Returns 

FGL Holdings  vs.  Globe Life

 Performance (%) 
      Timeline 

Pair Volatility

Allowing for the 30-days total investment horizon, FGL Holdings is expected to generate 1.23 times more return on investment than Globe Life. However, FGL Holdings is 1.23 times more volatile than Globe Life. It trades about 0.17 of its potential returns per unit of risk. Globe Life is currently generating about 0.2 per unit of risk. If you would invest  785.00  in FGL Holdings on October 22, 2019 and sell it today you would earn a total of  133.00  from holding FGL Holdings or generate 16.94% return on investment over 30 days.

Pair Corralation between FGL Holdings and Globe Life

0.81
Time Period3 Months [change]
DirectionPositive 
StrengthStrong
Accuracy98.44%
ValuesDaily Returns

Diversification Opportunities for FGL Holdings and Globe Life

FGL Holdings diversification synergy

Very poor diversification

Overlapping area represents the amount of risk that can be diversified away by holding FGL Holdings and Globe Life in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Globe Life and FGL Holdings 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 FGL Holdings are associated (or correlated) with Globe Life. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Globe Life has no effect on the direction of FGL Holdings i.e. FGL Holdings and Globe Life go up and down completely randomly.
See also your portfolio center. Please also try Chance of Distress module to get analysis of equity chance of financial distress in the next 2 years.


 
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