Correlation Between Bhiraj Office and ASIA Capital
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By analyzing existing cross correlation between Bhiraj Office Leasehold and ASIA Capital Group, you can compare the effects of market volatilities on Bhiraj Office and ASIA Capital 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 Bhiraj Office with a short position of ASIA Capital. Check out your portfolio center. Please also check ongoing floating volatility patterns of Bhiraj Office and ASIA Capital.
Diversification Opportunities for Bhiraj Office and ASIA Capital
0.28 | Correlation Coefficient |
Modest diversification
The 3 months correlation between Bhiraj and ASIA is 0.28. Overlapping area represents the amount of risk that can be diversified away by holding Bhiraj Office Leasehold and ASIA Capital Group in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on ASIA Capital Group and Bhiraj Office 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 Bhiraj Office Leasehold are associated (or correlated) with ASIA Capital. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of ASIA Capital Group has no effect on the direction of Bhiraj Office i.e., Bhiraj Office and ASIA Capital go up and down completely randomly.
Pair Corralation between Bhiraj Office and ASIA Capital
Assuming the 90 days trading horizon Bhiraj Office Leasehold is expected to generate 0.05 times more return on investment than ASIA Capital. However, Bhiraj Office Leasehold is 19.03 times less risky than ASIA Capital. It trades about 0.04 of its potential returns per unit of risk. ASIA Capital Group is currently generating about -0.22 per unit of risk. If you would invest 505.00 in Bhiraj Office Leasehold on September 2, 2024 and sell it today you would earn a total of 5.00 from holding Bhiraj Office Leasehold or generate 0.99% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 95.45% |
| Values | Daily Returns |
Bhiraj Office Leasehold vs. ASIA Capital Group
Performance |
| Timeline |
| Bhiraj Office Leasehold |
| ASIA Capital Group |
Bhiraj Office and ASIA Capital Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Bhiraj Office and ASIA Capital
The main advantage of trading using opposite Bhiraj Office and ASIA Capital positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Bhiraj Office position performs unexpectedly, ASIA Capital 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 ASIA Capital will offset losses from the drop in ASIA Capital's long position.| Bhiraj Office vs. LH Shopping Centers | Bhiraj Office vs. HEMARAJ INDUSTRIAL PROPERTY | Bhiraj Office vs. Land and Houses |
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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 Equity Analysis module to research over 250,000 global equities including funds, stocks and ETFs to find investment opportunities.
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