Correlation Between Bigbloc Construction and Sasken Technologies
Specify exactly 2 symbols:
By analyzing existing cross correlation between Bigbloc Construction Limited and Sasken Technologies Limited, you can compare the effects of market volatilities on Bigbloc Construction and Sasken Technologies 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 Bigbloc Construction with a short position of Sasken Technologies. Check out your portfolio center. Please also check ongoing floating volatility patterns of Bigbloc Construction and Sasken Technologies.
Diversification Opportunities for Bigbloc Construction and Sasken Technologies
-0.58 | Correlation Coefficient |
Excellent diversification
The 3 months correlation between Bigbloc and Sasken is -0.58. Overlapping area represents the amount of risk that can be diversified away by holding Bigbloc Construction Limited and Sasken Technologies Limited in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Sasken Technologies and Bigbloc Construction 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 Bigbloc Construction Limited are associated (or correlated) with Sasken Technologies. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Sasken Technologies has no effect on the direction of Bigbloc Construction i.e., Bigbloc Construction and Sasken Technologies go up and down completely randomly.
Pair Corralation between Bigbloc Construction and Sasken Technologies
Assuming the 90 days trading horizon Bigbloc Construction Limited is expected to under-perform the Sasken Technologies. But the stock apears to be less risky and, when comparing its historical volatility, Bigbloc Construction Limited is 1.1 times less risky than Sasken Technologies. The stock trades about -0.26 of its potential returns per unit of risk. The Sasken Technologies Limited is currently generating about 0.41 of returns per unit of risk over similar time horizon. If you would invest 168,133 in Sasken Technologies Limited on August 31, 2024 and sell it today you would earn a total of 50,837 from holding Sasken Technologies Limited or generate 30.24% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 95.45% |
| Values | Daily Returns |
Bigbloc Construction Limited vs. Sasken Technologies Limited
Performance |
| Timeline |
| Bigbloc Construction |
| Sasken Technologies |
Bigbloc Construction and Sasken Technologies Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Bigbloc Construction and Sasken Technologies
The main advantage of trading using opposite Bigbloc Construction and Sasken Technologies positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Bigbloc Construction position performs unexpectedly, Sasken Technologies 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 Sasken Technologies will offset losses from the drop in Sasken Technologies' long position.| Bigbloc Construction vs. Total Transport Systems | Bigbloc Construction vs. Compucom Software Limited | Bigbloc Construction vs. Music Broadcast Limited | Bigbloc Construction vs. VIP Clothing Limited |
| Sasken Technologies vs. Tata Consultancy Services | Sasken Technologies vs. Reliance Industries Limited | Sasken Technologies vs. SIS LIMITED | Sasken Technologies vs. State Bank of |
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 Technical Analysis module to check basic technical indicators and analysis based on most latest market data.
Other Complementary Tools
| Equity Analysis Research over 250,000 global equities including funds, stocks and ETFs to find investment opportunities | |
| Economic Indicators Top statistical indicators that provide insights into how an economy is performing | |
| Companies Directory Evaluate performance of over 100,000 Stocks, Funds, and ETFs against different fundamentals | |
| Stock Screener Find equities using a custom stock filter or screen asymmetry in trading patterns, price, volume, or investment outlook. | |
| Content Syndication Quickly integrate customizable finance content to your own investment portal |