Correlation Between Can Fin and Airan
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By analyzing existing cross correlation between Can Fin Homes and Airan Limited, you can compare the effects of market volatilities on Can Fin and Airan 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 Can Fin with a short position of Airan. Check out your portfolio center. Please also check ongoing floating volatility patterns of Can Fin and Airan.
Diversification Opportunities for Can Fin and Airan
Pay attention - limited upside
The 3 months correlation between Can and Airan is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Can Fin Homes and Airan Limited in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Airan Limited and Can Fin 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 Can Fin Homes are associated (or correlated) with Airan. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Airan Limited has no effect on the direction of Can Fin i.e., Can Fin and Airan go up and down completely randomly.
Pair Corralation between Can Fin and Airan
If you would invest (100.00) in Airan Limited on October 7, 2024 and sell it today you would earn a total of 100.00 from holding Airan Limited or generate -100.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 0.0% |
| Values | Daily Returns |
Can Fin Homes vs. Airan Limited
Performance |
| Timeline |
| Can Fin Homes |
| Airan Limited |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Weak
Can Fin and Airan Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Can Fin and Airan
The main advantage of trading using opposite Can Fin and Airan positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Can Fin position performs unexpectedly, Airan 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 Airan will offset losses from the drop in Airan's long position.| Can Fin vs. Styrenix Performance Materials | Can Fin vs. Man Infraconstruction Limited | Can Fin vs. Action Construction Equipment | Can Fin vs. Parag Milk Foods |
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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 Analyst Advice module to analyst recommendations and target price estimates broken down by several categories.
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