Correlation Between GTL and SBI Mutual
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By analyzing existing cross correlation between GTL Limited and SBI Mutual Fund, you can compare the effects of market volatilities on GTL and SBI Mutual 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 GTL with a short position of SBI Mutual. Check out your portfolio center. Please also check ongoing floating volatility patterns of GTL and SBI Mutual.
Diversification Opportunities for GTL and SBI Mutual
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between GTL and SBI is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding GTL Limited and SBI Mutual Fund in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on SBI Mutual Fund and GTL 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 GTL Limited are associated (or correlated) with SBI Mutual. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of SBI Mutual Fund has no effect on the direction of GTL i.e., GTL and SBI Mutual go up and down completely randomly.
Pair Corralation between GTL and SBI Mutual
If you would invest 24,229 in SBI Mutual Fund on October 22, 2024 and sell it today you would earn a total of 152.00 from holding SBI Mutual Fund or generate 0.63% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 5.26% |
| Values | Daily Returns |
GTL Limited vs. SBI Mutual Fund
Performance |
| Timeline |
| GTL Limited |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
| SBI Mutual Fund |
GTL and SBI Mutual Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with GTL and SBI Mutual
The main advantage of trading using opposite GTL and SBI Mutual positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if GTL position performs unexpectedly, SBI Mutual 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 SBI Mutual will offset losses from the drop in SBI Mutual's long position.| GTL vs. Oriental Hotels Limited | GTL vs. Associated Alcohols Breweries | GTL vs. Newgen Software Technologies | GTL vs. Viceroy Hotels Limited |
| SBI Mutual vs. Kingfa Science Technology | SBI Mutual vs. Agro Phos India | SBI Mutual vs. Indo Amines Limited | SBI Mutual vs. HDFC Mutual Fund |
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 Price Exposure Probability module to analyze equity upside and downside potential for a given time horizon across multiple markets.
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