Correlation Between Malion New and Postal Savings
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By analyzing existing cross correlation between Malion New Materials and Postal Savings Bank, you can compare the effects of market volatilities on Malion New and Postal Savings 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 Malion New with a short position of Postal Savings. Check out your portfolio center. Please also check ongoing floating volatility patterns of Malion New and Postal Savings.
Diversification Opportunities for Malion New and Postal Savings
0.28 | Correlation Coefficient |
Modest diversification
The 3 months correlation between Malion and Postal is 0.28. Overlapping area represents the amount of risk that can be diversified away by holding Malion New Materials and Postal Savings Bank in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Postal Savings Bank and Malion New 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 Malion New Materials are associated (or correlated) with Postal Savings. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Postal Savings Bank has no effect on the direction of Malion New i.e., Malion New and Postal Savings go up and down completely randomly.
Pair Corralation between Malion New and Postal Savings
Assuming the 90 days trading horizon Malion New Materials is expected to generate 2.68 times more return on investment than Postal Savings. However, Malion New is 2.68 times more volatile than Postal Savings Bank. It trades about 0.04 of its potential returns per unit of risk. Postal Savings Bank is currently generating about 0.04 per unit of risk. If you would invest 828.00 in Malion New Materials on December 8, 2024 and sell it today you would earn a total of 12.00 from holding Malion New Materials or generate 1.45% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Malion New Materials vs. Postal Savings Bank
Performance |
| Timeline |
| Malion New Materials |
| Postal Savings Bank |
Malion New and Postal Savings Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Malion New and Postal Savings
The main advantage of trading using opposite Malion New and Postal Savings positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Malion New position performs unexpectedly, Postal Savings 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 Postal Savings will offset losses from the drop in Postal Savings' long position.| Malion New vs. Keli Sensing Technology | ||
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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 Stock Screener module to find equities using a custom stock filter or screen asymmetry in trading patterns, price, volume, or investment outlook..
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