Correlation Between Asian Hotels and Baazar Style
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By analyzing existing cross correlation between Asian Hotels Limited and Baazar Style Retail, you can compare the effects of market volatilities on Asian Hotels and Baazar Style 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 Asian Hotels with a short position of Baazar Style. Check out your portfolio center. Please also check ongoing floating volatility patterns of Asian Hotels and Baazar Style.
Diversification Opportunities for Asian Hotels and Baazar Style
-0.73 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Asian and Baazar is -0.73. Overlapping area represents the amount of risk that can be diversified away by holding Asian Hotels Limited and Baazar Style Retail in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Baazar Style Retail and Asian Hotels 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 Asian Hotels Limited are associated (or correlated) with Baazar Style. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Baazar Style Retail has no effect on the direction of Asian Hotels i.e., Asian Hotels and Baazar Style go up and down completely randomly.
Pair Corralation between Asian Hotels and Baazar Style
Assuming the 90 days trading horizon Asian Hotels Limited is expected to generate 0.93 times more return on investment than Baazar Style. However, Asian Hotels Limited is 1.08 times less risky than Baazar Style. It trades about 0.39 of its potential returns per unit of risk. Baazar Style Retail is currently generating about -0.25 per unit of risk. If you would invest 29,665 in Asian Hotels Limited on November 7, 2024 and sell it today you would earn a total of 8,820 from holding Asian Hotels Limited or generate 29.73% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Asian Hotels Limited vs. Baazar Style Retail
Performance |
| Timeline |
| Asian Hotels Limited |
| Baazar Style Retail |
Asian Hotels and Baazar Style Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Asian Hotels and Baazar Style
The main advantage of trading using opposite Asian Hotels and Baazar Style positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Asian Hotels position performs unexpectedly, Baazar Style 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 Baazar Style will offset losses from the drop in Baazar Style's long position.| Asian Hotels vs. Akums Drugs and | Asian Hotels vs. Kilitch Drugs Limited | Asian Hotels vs. Mangalam Drugs And | Asian Hotels vs. Zodiac Clothing |
| Baazar Style vs. Ami Organics Limited | Baazar Style vs. Foods Inns Limited | Baazar Style vs. Fine Organic Industries | Baazar Style vs. Jubilant Foodworks Limited |
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 Balance Of Power module to check stock momentum by analyzing Balance Of Power indicator and other technical ratios.
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