Correlation Between BF Investment and Apollo Hospitals
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By analyzing existing cross correlation between BF Investment Limited and Apollo Hospitals Enterprise, you can compare the effects of market volatilities on BF Investment and Apollo 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 BF Investment with a short position of Apollo Hospitals. Check out your portfolio center. Please also check ongoing floating volatility patterns of BF Investment and Apollo Hospitals.
Diversification Opportunities for BF Investment and Apollo Hospitals
0.14 | Correlation Coefficient |
Average diversification
The 3 months correlation between BFINVEST and Apollo is 0.14. Overlapping area represents the amount of risk that can be diversified away by holding BF Investment Limited and Apollo Hospitals Enterprise in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Apollo Hospitals Ent and BF Investment 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 BF Investment Limited are associated (or correlated) with Apollo Hospitals. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Apollo Hospitals Ent has no effect on the direction of BF Investment i.e., BF Investment and Apollo Hospitals go up and down completely randomly.
Pair Corralation between BF Investment and Apollo Hospitals
Assuming the 90 days trading horizon BF Investment Limited is expected to under-perform the Apollo Hospitals. But the stock apears to be less risky and, when comparing its historical volatility, BF Investment Limited is 1.17 times less risky than Apollo Hospitals. The stock trades about -0.04 of its potential returns per unit of risk. The Apollo Hospitals Enterprise is currently generating about 0.2 of returns per unit of risk over similar time horizon. If you would invest 686,065 in Apollo Hospitals Enterprise on September 15, 2024 and sell it today you would earn a total of 39,880 from holding Apollo Hospitals Enterprise or generate 5.81% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 95.24% |
| Values | Daily Returns |
BF Investment Limited vs. Apollo Hospitals Enterprise
Performance |
| Timeline |
| BF Investment Limited |
| Apollo Hospitals Ent |
BF Investment and Apollo Hospitals Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with BF Investment and Apollo Hospitals
The main advantage of trading using opposite BF Investment and Apollo Hospitals positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if BF Investment position performs unexpectedly, Apollo 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 Apollo Hospitals will offset losses from the drop in Apollo Hospitals' long position.| BF Investment vs. Lakshmi Finance Industrial | BF Investment vs. Foods Inns Limited | BF Investment vs. LT Foods Limited | BF Investment vs. Agarwal Industrial |
| Apollo Hospitals vs. GPT Healthcare | Apollo Hospitals vs. ILFS Investment Managers | Apollo Hospitals vs. Fortis Healthcare Limited | Apollo Hospitals vs. BF Investment 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 Analyst Advice module to analyst recommendations and target price estimates broken down by several categories.
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