Correlation Between Asian Hotels and Yatra Online
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By analyzing existing cross correlation between Asian Hotels Limited and Yatra Online Limited, you can compare the effects of market volatilities on Asian Hotels and Yatra Online 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 Yatra Online. Check out your portfolio center. Please also check ongoing floating volatility patterns of Asian Hotels and Yatra Online.
Diversification Opportunities for Asian Hotels and Yatra Online
-0.7 | Correlation Coefficient |
Excellent diversification
The 3 months correlation between Asian and Yatra is -0.7. Overlapping area represents the amount of risk that can be diversified away by holding Asian Hotels Limited and Yatra Online Limited in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Yatra Online Limited 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 Yatra Online. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Yatra Online Limited has no effect on the direction of Asian Hotels i.e., Asian Hotels and Yatra Online go up and down completely randomly.
Pair Corralation between Asian Hotels and Yatra Online
Assuming the 90 days trading horizon Asian Hotels Limited is expected to generate 0.88 times more return on investment than Yatra Online. However, Asian Hotels Limited is 1.14 times less risky than Yatra Online. It trades about 0.15 of its potential returns per unit of risk. Yatra Online Limited is currently generating about -0.54 per unit of risk. If you would invest 34,230 in Asian Hotels Limited on December 1, 2024 and sell it today you would earn a total of 2,450 from holding Asian Hotels Limited or generate 7.16% 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. Yatra Online Limited
Performance |
| Timeline |
| Asian Hotels Limited |
| Yatra Online Limited |
Asian Hotels and Yatra Online Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Asian Hotels and Yatra Online
The main advantage of trading using opposite Asian Hotels and Yatra Online positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Asian Hotels position performs unexpectedly, Yatra Online 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 Yatra Online will offset losses from the drop in Yatra Online's long position.| Asian Hotels vs. Entero Healthcare Solutions | Asian Hotels vs. Hisar Metal Industries | Asian Hotels vs. Embassy Office Parks | Asian Hotels vs. TTK Healthcare Limited |
| Yatra Online vs. Future Retail Limited | Yatra Online vs. Osia Hyper Retail | Yatra Online vs. Baazar Style Retail | Yatra Online vs. DCM Financial Services |
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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