Correlation Between Bharatiya Global and Yatra Online
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By analyzing existing cross correlation between Bharatiya Global Infomedia and Yatra Online Limited, you can compare the effects of market volatilities on Bharatiya Global 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 Bharatiya Global with a short position of Yatra Online. Check out your portfolio center. Please also check ongoing floating volatility patterns of Bharatiya Global and Yatra Online.
Diversification Opportunities for Bharatiya Global and Yatra Online
0.53 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between Bharatiya and Yatra is 0.53. Overlapping area represents the amount of risk that can be diversified away by holding Bharatiya Global Infomedia 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 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 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 Bharatiya Global i.e., Bharatiya Global and Yatra Online go up and down completely randomly.
Pair Corralation between Bharatiya Global and Yatra Online
Assuming the 90 days trading horizon Bharatiya Global Infomedia is expected to under-perform the Yatra Online. But the stock apears to be less risky and, when comparing its historical volatility, Bharatiya Global Infomedia is 1.46 times less risky than Yatra Online. The stock trades about -0.07 of its potential returns per unit of risk. The Yatra Online Limited is currently generating about 0.15 of returns per unit of risk over similar time horizon. If you would invest 8,184 in Yatra Online Limited on January 24, 2025 and sell it today you would earn a total of 594.00 from holding Yatra Online Limited or generate 7.26% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Bharatiya Global Infomedia vs. Yatra Online Limited
Performance |
| Timeline |
| Bharatiya Global Inf |
| Yatra Online Limited |
Bharatiya Global and Yatra Online Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Bharatiya Global and Yatra Online
The main advantage of trading using opposite Bharatiya Global and Yatra Online positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Bharatiya Global 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.| Bharatiya Global vs. Alkali Metals Limited | Bharatiya Global vs. Zuari Agro Chemicals | Bharatiya Global vs. Speciality Restaurants Limited | Bharatiya Global vs. LLOYDS METALS AND |
| Yatra Online vs. Tata Communications Limited | Yatra Online vs. Next Mediaworks Limited | Yatra Online vs. Sunflag Iron And | Yatra Online vs. Jindal Steel Power |
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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