Correlation Between Cantabil Retail and Capacite Infraprojects
Specify exactly 2 symbols:
By analyzing existing cross correlation between Cantabil Retail India and Capacite Infraprojects Limited, you can compare the effects of market volatilities on Cantabil Retail and Capacite Infraprojects 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 Cantabil Retail with a short position of Capacite Infraprojects. Check out your portfolio center. Please also check ongoing floating volatility patterns of Cantabil Retail and Capacite Infraprojects.
Diversification Opportunities for Cantabil Retail and Capacite Infraprojects
0.43 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between Cantabil and Capacite is 0.43. Overlapping area represents the amount of risk that can be diversified away by holding Cantabil Retail India and Capacite Infraprojects Limited in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Capacite Infraprojects and Cantabil Retail 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 Cantabil Retail India are associated (or correlated) with Capacite Infraprojects. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Capacite Infraprojects has no effect on the direction of Cantabil Retail i.e., Cantabil Retail and Capacite Infraprojects go up and down completely randomly.
Pair Corralation between Cantabil Retail and Capacite Infraprojects
Assuming the 90 days trading horizon Cantabil Retail is expected to generate 2.86 times less return on investment than Capacite Infraprojects. But when comparing it to its historical volatility, Cantabil Retail India is 1.09 times less risky than Capacite Infraprojects. It trades about 0.03 of its potential returns per unit of risk. Capacite Infraprojects Limited is currently generating about 0.09 of returns per unit of risk over similar time horizon. If you would invest 12,870 in Capacite Infraprojects Limited on January 24, 2025 and sell it today you would earn a total of 25,055 from holding Capacite Infraprojects Limited or generate 194.68% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Cantabil Retail India vs. Capacite Infraprojects Limited
Performance |
| Timeline |
| Cantabil Retail India |
| Capacite Infraprojects |
Cantabil Retail and Capacite Infraprojects Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Cantabil Retail and Capacite Infraprojects
The main advantage of trading using opposite Cantabil Retail and Capacite Infraprojects positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Cantabil Retail position performs unexpectedly, Capacite Infraprojects 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 Capacite Infraprojects will offset losses from the drop in Capacite Infraprojects' long position.| Cantabil Retail vs. Paramount Communications Limited | Cantabil Retail vs. Silly Monks Entertainment | Cantabil Retail vs. Entertainment Network Limited | Cantabil Retail vs. Bodhi Tree Multimedia |
| Capacite Infraprojects vs. Home First Finance | Capacite Infraprojects vs. Global Health Limited | Capacite Infraprojects vs. Aster DM Healthcare | Capacite Infraprojects vs. Ventive Hospitality |
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 Fundamentals Comparison module to compare fundamentals across multiple equities to find investing opportunities.
Other Complementary Tools
| AI Portfolio Architect Use AI to generate optimal portfolios and find profitable investment opportunities | |
| Bonds Directory Find actively traded corporate debentures issued by US companies | |
| Correlation Analysis Reduce portfolio risk simply by holding instruments which are not perfectly correlated | |
| Portfolio File Import Quickly import all of your third-party portfolios from your local drive in csv format | |
| Instant Ratings Determine any equity ratings based on digital recommendations. Macroaxis instant equity ratings are based on combination of fundamental analysis and risk-adjusted market performance |