Correlation Between Cantabil Retail and Gujarat Lease
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By analyzing existing cross correlation between Cantabil Retail India and Gujarat Lease Financing, you can compare the effects of market volatilities on Cantabil Retail and Gujarat Lease 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 Gujarat Lease. Check out your portfolio center. Please also check ongoing floating volatility patterns of Cantabil Retail and Gujarat Lease.
Diversification Opportunities for Cantabil Retail and Gujarat Lease
0.15 | Correlation Coefficient |
Average diversification
The 3 months correlation between Cantabil and Gujarat is 0.15. Overlapping area represents the amount of risk that can be diversified away by holding Cantabil Retail India and Gujarat Lease Financing in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Gujarat Lease Financing 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 Gujarat Lease. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Gujarat Lease Financing has no effect on the direction of Cantabil Retail i.e., Cantabil Retail and Gujarat Lease go up and down completely randomly.
Pair Corralation between Cantabil Retail and Gujarat Lease
Assuming the 90 days trading horizon Cantabil Retail is expected to generate 4.04 times less return on investment than Gujarat Lease. But when comparing it to its historical volatility, Cantabil Retail India is 1.14 times less risky than Gujarat Lease. It trades about 0.03 of its potential returns per unit of risk. Gujarat Lease Financing is currently generating about 0.12 of returns per unit of risk over similar time horizon. If you would invest 295.00 in Gujarat Lease Financing on September 12, 2024 and sell it today you would earn a total of 572.00 from holding Gujarat Lease Financing or generate 193.9% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 99.71% |
| Values | Daily Returns |
Cantabil Retail India vs. Gujarat Lease Financing
Performance |
| Timeline |
| Cantabil Retail India |
| Gujarat Lease Financing |
Cantabil Retail and Gujarat Lease Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Cantabil Retail and Gujarat Lease
The main advantage of trading using opposite Cantabil Retail and Gujarat Lease positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Cantabil Retail position performs unexpectedly, Gujarat Lease 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 Gujarat Lease will offset losses from the drop in Gujarat Lease's long position.| Cantabil Retail vs. Hemisphere Properties India | Cantabil Retail vs. Indo Borax Chemicals | Cantabil Retail vs. Kingfa Science Technology | Cantabil Retail vs. Alkali Metals Limited |
| Gujarat Lease vs. Shyam Metalics and | Gujarat Lease vs. Sintex Plastics Technology | Gujarat Lease vs. LLOYDS METALS AND | Gujarat Lease vs. Embassy Office Parks |
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 Money Flow Index module to determine momentum by analyzing Money Flow Index and other technical indicators.
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