Correlation Between Electronics Mart and Bharatiya Global
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By analyzing existing cross correlation between Electronics Mart India and Bharatiya Global Infomedia, you can compare the effects of market volatilities on Electronics Mart and Bharatiya Global 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 Electronics Mart with a short position of Bharatiya Global. Check out your portfolio center. Please also check ongoing floating volatility patterns of Electronics Mart and Bharatiya Global.
Diversification Opportunities for Electronics Mart and Bharatiya Global
-0.71 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Electronics and Bharatiya is -0.71. Overlapping area represents the amount of risk that can be diversified away by holding Electronics Mart India and Bharatiya Global Infomedia in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Bharatiya Global Inf and Electronics Mart 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 Electronics Mart India are associated (or correlated) with Bharatiya Global. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Bharatiya Global Inf has no effect on the direction of Electronics Mart i.e., Electronics Mart and Bharatiya Global go up and down completely randomly.
Pair Corralation between Electronics Mart and Bharatiya Global
Assuming the 90 days trading horizon Electronics Mart India is expected to under-perform the Bharatiya Global. But the stock apears to be less risky and, when comparing its historical volatility, Electronics Mart India is 1.15 times less risky than Bharatiya Global. The stock trades about -0.28 of its potential returns per unit of risk. The Bharatiya Global Infomedia is currently generating about 0.47 of returns per unit of risk over similar time horizon. If you would invest 408.00 in Bharatiya Global Infomedia on October 11, 2024 and sell it today you would earn a total of 86.00 from holding Bharatiya Global Infomedia or generate 21.08% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Electronics Mart India vs. Bharatiya Global Infomedia
Performance |
| Timeline |
| Electronics Mart India |
| Bharatiya Global Inf |
Electronics Mart and Bharatiya Global Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Electronics Mart and Bharatiya Global
The main advantage of trading using opposite Electronics Mart and Bharatiya Global positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Electronics Mart position performs unexpectedly, Bharatiya Global 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 Bharatiya Global will offset losses from the drop in Bharatiya Global's long position.| Electronics Mart vs. Juniper Hotels | Electronics Mart vs. BF Investment Limited | Electronics Mart vs. Lemon Tree Hotels | Electronics Mart vs. Jindal Poly Investment |
| Bharatiya Global vs. Electronics Mart India | Bharatiya Global vs. Sarveshwar Foods Limited | Bharatiya Global vs. Kilitch Drugs Limited | Bharatiya Global vs. Fairchem Organics Limited |
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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