Correlation Between Bharatiya Global and Electronics Mart
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By analyzing existing cross correlation between Bharatiya Global Infomedia and Electronics Mart India, you can compare the effects of market volatilities on Bharatiya Global and Electronics Mart 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 Bharatiya Global with a short position of Electronics Mart. Check out your portfolio center. Please also check ongoing floating volatility patterns of Bharatiya Global and Electronics Mart.
Diversification Opportunities for Bharatiya Global and Electronics Mart
-0.73 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Bharatiya and Electronics is -0.73. Overlapping area represents the amount of risk that can be diversified away by holding Bharatiya Global Infomedia and Electronics Mart India in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Electronics Mart India and Bharatiya Global 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 Bharatiya Global Infomedia are associated (or correlated) with Electronics Mart. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Electronics Mart India has no effect on the direction of Bharatiya Global i.e., Bharatiya Global and Electronics Mart go up and down completely randomly.
Pair Corralation between Bharatiya Global and Electronics Mart
Assuming the 90 days trading horizon Bharatiya Global Infomedia is expected to generate 0.69 times more return on investment than Electronics Mart. However, Bharatiya Global Infomedia is 1.44 times less risky than Electronics Mart. It trades about 0.14 of its potential returns per unit of risk. Electronics Mart India is currently generating about -0.02 per unit of risk. If you would invest 280.00 in Bharatiya Global Infomedia on October 16, 2024 and sell it today you would earn a total of 238.00 from holding Bharatiya Global Infomedia or generate 85.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Weak |
| Accuracy | 99.24% |
| Values | Daily Returns |
Bharatiya Global Infomedia vs. Electronics Mart India
Performance |
| Timeline |
| Bharatiya Global Inf |
| Electronics Mart India |
Bharatiya Global and Electronics Mart Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Bharatiya Global and Electronics Mart
The main advantage of trading using opposite Bharatiya Global and Electronics Mart positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Bharatiya Global position performs unexpectedly, Electronics Mart 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 Electronics Mart will offset losses from the drop in Electronics Mart's long position.| Bharatiya Global vs. Credo Brands Marketing | Bharatiya Global vs. Le Travenues Technology | Bharatiya Global vs. PYRAMID TECHNOPLAST ORD | Bharatiya Global vs. Praxis Home Retail |
| Electronics Mart vs. Kilitch Drugs Limited | Electronics Mart vs. Entertainment Network Limited | Electronics Mart vs. Cyber Media Research | Electronics Mart vs. Bharatiya Global Infomedia |
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 Stocks Directory module to find actively traded stocks across global markets.
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