Correlation Between Dhunseri Investments and CREDITACCESS GRAMEEN
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By analyzing existing cross correlation between Dhunseri Investments Limited and CREDITACCESS GRAMEEN LIMITED, you can compare the effects of market volatilities on Dhunseri Investments and CREDITACCESS GRAMEEN 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 Dhunseri Investments with a short position of CREDITACCESS GRAMEEN. Check out your portfolio center. Please also check ongoing floating volatility patterns of Dhunseri Investments and CREDITACCESS GRAMEEN.
Diversification Opportunities for Dhunseri Investments and CREDITACCESS GRAMEEN
-0.4 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Dhunseri and CREDITACCESS is -0.4. Overlapping area represents the amount of risk that can be diversified away by holding Dhunseri Investments Limited and CREDITACCESS GRAMEEN LIMITED in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on CREDITACCESS GRAMEEN and Dhunseri Investments 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 Dhunseri Investments Limited are associated (or correlated) with CREDITACCESS GRAMEEN. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of CREDITACCESS GRAMEEN has no effect on the direction of Dhunseri Investments i.e., Dhunseri Investments and CREDITACCESS GRAMEEN go up and down completely randomly.
Pair Corralation between Dhunseri Investments and CREDITACCESS GRAMEEN
Assuming the 90 days trading horizon Dhunseri Investments Limited is expected to under-perform the CREDITACCESS GRAMEEN. But the stock apears to be less risky and, when comparing its historical volatility, Dhunseri Investments Limited is 1.59 times less risky than CREDITACCESS GRAMEEN. The stock trades about -0.2 of its potential returns per unit of risk. The CREDITACCESS GRAMEEN LIMITED is currently generating about 0.11 of returns per unit of risk over similar time horizon. If you would invest 91,125 in CREDITACCESS GRAMEEN LIMITED on November 7, 2024 and sell it today you would earn a total of 9,095 from holding CREDITACCESS GRAMEEN LIMITED or generate 9.98% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Dhunseri Investments Limited vs. CREDITACCESS GRAMEEN LIMITED
Performance |
| Timeline |
| Dhunseri Investments |
| CREDITACCESS GRAMEEN |
Dhunseri Investments and CREDITACCESS GRAMEEN Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Dhunseri Investments and CREDITACCESS GRAMEEN
The main advantage of trading using opposite Dhunseri Investments and CREDITACCESS GRAMEEN positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Dhunseri Investments position performs unexpectedly, CREDITACCESS GRAMEEN 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 CREDITACCESS GRAMEEN will offset losses from the drop in CREDITACCESS GRAMEEN's long position.| Dhunseri Investments vs. Zuari Agro Chemicals | Dhunseri Investments vs. IOL Chemicals and | Dhunseri Investments vs. Osia Hyper Retail | Dhunseri Investments vs. Cambridge Technology Enterprises |
| CREDITACCESS GRAMEEN vs. Karur Vysya Bank | CREDITACCESS GRAMEEN vs. UCO Bank | CREDITACCESS GRAMEEN vs. Chambal Fertilizers Chemicals | CREDITACCESS GRAMEEN vs. Arman Financial Services |
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 Correlation Analysis module to reduce portfolio risk simply by holding instruments which are not perfectly correlated.
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