Correlation Between BF Investment and Teamlease Services
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By analyzing existing cross correlation between BF Investment Limited and Teamlease Services Limited, you can compare the effects of market volatilities on BF Investment and Teamlease Services 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 Teamlease Services. Check out your portfolio center. Please also check ongoing floating volatility patterns of BF Investment and Teamlease Services.
Diversification Opportunities for BF Investment and Teamlease Services
-0.76 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between BFINVEST and Teamlease is -0.76. Overlapping area represents the amount of risk that can be diversified away by holding BF Investment Limited and Teamlease Services Limited in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Teamlease Services 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 Teamlease Services. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Teamlease Services has no effect on the direction of BF Investment i.e., BF Investment and Teamlease Services go up and down completely randomly.
Pair Corralation between BF Investment and Teamlease Services
Assuming the 90 days trading horizon BF Investment Limited is expected to generate 1.73 times more return on investment than Teamlease Services. However, BF Investment is 1.73 times more volatile than Teamlease Services Limited. It trades about 0.07 of its potential returns per unit of risk. Teamlease Services Limited is currently generating about 0.02 per unit of risk. If you would invest 28,965 in BF Investment Limited on September 5, 2024 and sell it today you would earn a total of 44,495 from holding BF Investment Limited or generate 153.62% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
BF Investment Limited vs. Teamlease Services Limited
Performance |
| Timeline |
| BF Investment Limited |
| Teamlease Services |
BF Investment and Teamlease Services Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with BF Investment and Teamlease Services
The main advantage of trading using opposite BF Investment and Teamlease Services positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if BF Investment position performs unexpectedly, Teamlease Services 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 Teamlease Services will offset losses from the drop in Teamlease Services' long position.| BF Investment vs. MRF Limited | BF Investment vs. JSW Holdings Limited | BF Investment vs. Maharashtra Scooters Limited | BF Investment vs. Vardhman Holdings Limited |
| Teamlease Services vs. Avonmore Capital Management | Teamlease Services vs. Gallantt Ispat Limited | Teamlease Services vs. Nalwa Sons Investments | Teamlease Services 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 Portfolio Analyzer module to portfolio analysis module that provides access to portfolio diagnostics and optimization engine.
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