Correlation Between Bhiraj Office and JD Food
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By analyzing existing cross correlation between Bhiraj Office Leasehold and JD Food PCL, you can compare the effects of market volatilities on Bhiraj Office and JD Food 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 JD Food. Check out your portfolio center. Please also check ongoing floating volatility patterns of Bhiraj Office and JD Food.
Diversification Opportunities for Bhiraj Office and JD Food
-0.52 | Correlation Coefficient |
Excellent diversification
The 3 months correlation between Bhiraj and JDF is -0.52. Overlapping area represents the amount of risk that can be diversified away by holding Bhiraj Office Leasehold and JD Food PCL in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on JD Food PCL 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 JD Food. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of JD Food PCL has no effect on the direction of Bhiraj Office i.e., Bhiraj Office and JD Food go up and down completely randomly.
Pair Corralation between Bhiraj Office and JD Food
Assuming the 90 days trading horizon Bhiraj Office Leasehold is expected to generate 0.49 times more return on investment than JD Food. However, Bhiraj Office Leasehold is 2.06 times less risky than JD Food. It trades about 0.04 of its potential returns per unit of risk. JD Food PCL is currently generating about 0.0 per unit of risk. If you would invest 464.00 in Bhiraj Office Leasehold on August 29, 2024 and sell it today you would earn a total of 41.00 from holding Bhiraj Office Leasehold or generate 8.84% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 99.5% |
| Values | Daily Returns |
Bhiraj Office Leasehold vs. JD Food PCL
Performance |
| Timeline |
| Bhiraj Office Leasehold |
| JD Food PCL |
Bhiraj Office and JD Food Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Bhiraj Office and JD Food
The main advantage of trading using opposite Bhiraj Office and JD Food positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Bhiraj Office position performs unexpectedly, JD Food 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 JD Food will offset losses from the drop in JD Food's long position.| Bhiraj Office vs. Quality Houses Hotel | Bhiraj Office vs. Quality Houses Property | Bhiraj Office vs. SCG PACKAGING PCL NVDR | Bhiraj Office vs. CK Power Public |
| JD Food vs. Carabao Group Public | JD Food vs. Jay Mart Public | JD Food vs. Gulf Energy Development | JD Food vs. KCE Electronics Public |
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 Odds Of Bankruptcy module to get analysis of equity chance of financial distress in the next 2 years.
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