Correlation Between Embassy Office and CREDITACCESS GRAMEEN
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By analyzing existing cross correlation between Embassy Office Parks and CREDITACCESS GRAMEEN LIMITED, you can compare the effects of market volatilities on Embassy Office 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 Embassy Office with a short position of CREDITACCESS GRAMEEN. Check out your portfolio center. Please also check ongoing floating volatility patterns of Embassy Office and CREDITACCESS GRAMEEN.
Diversification Opportunities for Embassy Office and CREDITACCESS GRAMEEN
0.39 | Correlation Coefficient |
Weak diversification
The 3 months correlation between Embassy and CREDITACCESS is 0.39. Overlapping area represents the amount of risk that can be diversified away by holding Embassy Office Parks and CREDITACCESS GRAMEEN LIMITED in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on CREDITACCESS GRAMEEN and Embassy Office 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 Embassy Office Parks 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 Embassy Office i.e., Embassy Office and CREDITACCESS GRAMEEN go up and down completely randomly.
Pair Corralation between Embassy Office and CREDITACCESS GRAMEEN
Assuming the 90 days trading horizon Embassy Office Parks is expected to under-perform the CREDITACCESS GRAMEEN. But the stock apears to be less risky and, when comparing its historical volatility, Embassy Office Parks is 5.02 times less risky than CREDITACCESS GRAMEEN. The stock trades about -0.1 of its potential returns per unit of risk. The CREDITACCESS GRAMEEN LIMITED is currently generating about 0.1 of returns per unit of risk over similar time horizon. If you would invest 83,965 in CREDITACCESS GRAMEEN LIMITED on October 28, 2024 and sell it today you would earn a total of 7,695 from holding CREDITACCESS GRAMEEN LIMITED or generate 9.16% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Embassy Office Parks vs. CREDITACCESS GRAMEEN LIMITED
Performance |
| Timeline |
| Embassy Office Parks |
| CREDITACCESS GRAMEEN |
Embassy Office and CREDITACCESS GRAMEEN Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Embassy Office and CREDITACCESS GRAMEEN
The main advantage of trading using opposite Embassy Office and CREDITACCESS GRAMEEN positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Embassy Office 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.| Embassy Office vs. Cantabil Retail India | Embassy Office vs. Data Patterns Limited | Embassy Office vs. Bombay Burmah Trading | Embassy Office vs. Allied Blenders Distillers |
| CREDITACCESS GRAMEEN vs. ILFS Investment Managers | CREDITACCESS GRAMEEN vs. Nalwa Sons Investments | CREDITACCESS GRAMEEN vs. Bajaj Holdings Investment | CREDITACCESS GRAMEEN vs. Clean Science and |
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 Sign In To Macroaxis module to sign in to explore Macroaxis' wealth optimization platform and fintech modules.
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