Correlation Between Cambridge Technology and Kohinoor Foods
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By analyzing existing cross correlation between Cambridge Technology Enterprises and Kohinoor Foods Limited, you can compare the effects of market volatilities on Cambridge Technology and Kohinoor Foods 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 Cambridge Technology with a short position of Kohinoor Foods. Check out your portfolio center. Please also check ongoing floating volatility patterns of Cambridge Technology and Kohinoor Foods.
Diversification Opportunities for Cambridge Technology and Kohinoor Foods
0.49 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between Cambridge and Kohinoor is 0.49. Overlapping area represents the amount of risk that can be diversified away by holding Cambridge Technology Enterpris and Kohinoor Foods Limited in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Kohinoor Foods and Cambridge Technology 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 Cambridge Technology Enterprises are associated (or correlated) with Kohinoor Foods. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Kohinoor Foods has no effect on the direction of Cambridge Technology i.e., Cambridge Technology and Kohinoor Foods go up and down completely randomly.
Pair Corralation between Cambridge Technology and Kohinoor Foods
Assuming the 90 days trading horizon Cambridge Technology Enterprises is expected to under-perform the Kohinoor Foods. But the stock apears to be less risky and, when comparing its historical volatility, Cambridge Technology Enterprises is 1.46 times less risky than Kohinoor Foods. The stock trades about -0.03 of its potential returns per unit of risk. The Kohinoor Foods Limited is currently generating about 0.0 of returns per unit of risk over similar time horizon. If you would invest 4,125 in Kohinoor Foods Limited on October 14, 2024 and sell it today you would lose (107.00) from holding Kohinoor Foods Limited or give up 2.59% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Cambridge Technology Enterpris vs. Kohinoor Foods Limited
Performance |
| Timeline |
| Cambridge Technology |
| Kohinoor Foods |
Cambridge Technology and Kohinoor Foods Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Cambridge Technology and Kohinoor Foods
The main advantage of trading using opposite Cambridge Technology and Kohinoor Foods positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Cambridge Technology position performs unexpectedly, Kohinoor Foods 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 Kohinoor Foods will offset losses from the drop in Kohinoor Foods' long position.| Cambridge Technology vs. Kalyani Investment | Cambridge Technology vs. Bajaj Holdings Investment | Cambridge Technology vs. HDFC Asset Management | Cambridge Technology vs. SIL Investments Limited |
| Kohinoor Foods vs. Hisar Metal Industries | Kohinoor Foods vs. R S Software | Kohinoor Foods vs. Cambridge Technology Enterprises | Kohinoor Foods vs. Nucleus Software Exports |
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 Managers module to screen money managers from public funds and ETFs managed around the world.
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