Correlation Between Lanka Realty and Singhe Hospitals
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By analyzing existing cross correlation between Lanka Realty Investments and Singhe Hospitals, you can compare the effects of market volatilities on Lanka Realty and Singhe Hospitals 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 Lanka Realty with a short position of Singhe Hospitals. Check out your portfolio center. Please also check ongoing floating volatility patterns of Lanka Realty and Singhe Hospitals.
Diversification Opportunities for Lanka Realty and Singhe Hospitals
-0.14 | Correlation Coefficient |
Good diversification
The 3 months correlation between Lanka and Singhe is -0.14. Overlapping area represents the amount of risk that can be diversified away by holding Lanka Realty Investments and Singhe Hospitals in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Singhe Hospitals and Lanka Realty 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 Lanka Realty Investments are associated (or correlated) with Singhe Hospitals. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Singhe Hospitals has no effect on the direction of Lanka Realty i.e., Lanka Realty and Singhe Hospitals go up and down completely randomly.
Pair Corralation between Lanka Realty and Singhe Hospitals
Assuming the 90 days trading horizon Lanka Realty is expected to generate 1.53 times less return on investment than Singhe Hospitals. In addition to that, Lanka Realty is 1.04 times more volatile than Singhe Hospitals. It trades about 0.01 of its total potential returns per unit of risk. Singhe Hospitals is currently generating about 0.02 per unit of volatility. If you would invest 250.00 in Singhe Hospitals on August 30, 2024 and sell it today you would earn a total of 0.00 from holding Singhe Hospitals or generate 0.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 97.0% |
| Values | Daily Returns |
Lanka Realty Investments vs. Singhe Hospitals
Performance |
| Timeline |
| Lanka Realty Investments |
| Singhe Hospitals |
Lanka Realty and Singhe Hospitals Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Lanka Realty and Singhe Hospitals
The main advantage of trading using opposite Lanka Realty and Singhe Hospitals positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Lanka Realty position performs unexpectedly, Singhe Hospitals 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 Singhe Hospitals will offset losses from the drop in Singhe Hospitals' long position.| Lanka Realty vs. EX PACK RUGATED CARTONS | Lanka Realty vs. PANASIAN POWER PLC | Lanka Realty vs. Distilleries Company of | Lanka Realty vs. Palm Garden Hotels |
| Singhe Hospitals vs. EX PACK RUGATED CARTONS | Singhe Hospitals vs. PANASIAN POWER PLC | Singhe Hospitals vs. Distilleries Company of | Singhe Hospitals vs. Palm Garden Hotels |
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 Instant Ratings module to determine any equity ratings based on digital recommendations. Macroaxis instant equity ratings are based on combination of fundamental analysis and risk-adjusted market performance.
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