Correlation Between JSC Halyk and Trisura
Can any of the company-specific risk be diversified away by investing in both JSC Halyk and Trisura at the same time? Although using a correlation coefficient on its own may not help to predict future stock returns, this module helps to understand the diversifiable risk of combining JSC Halyk and Trisura into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between JSC Halyk bank and Trisura Group, you can compare the effects of market volatilities on JSC Halyk and Trisura 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 JSC Halyk with a short position of Trisura. Check out your portfolio center. Please also check ongoing floating volatility patterns of JSC Halyk and Trisura.
Diversification Opportunities for JSC Halyk and Trisura
Very good diversification
The 3 months correlation between JSC and Trisura is -0.48. Overlapping area represents the amount of risk that can be diversified away by holding JSC Halyk bank and Trisura Group in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Trisura Group and JSC Halyk 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 JSC Halyk bank are associated (or correlated) with Trisura. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Trisura Group has no effect on the direction of JSC Halyk i.e., JSC Halyk and Trisura go up and down completely randomly.
Pair Corralation between JSC Halyk and Trisura
Assuming the 90 days trading horizon JSC Halyk bank is expected to generate 2.69 times more return on investment than Trisura. However, JSC Halyk is 2.69 times more volatile than Trisura Group. It trades about 0.05 of its potential returns per unit of risk. Trisura Group is currently generating about 0.01 per unit of risk. If you would invest 1,725 in JSC Halyk bank on September 15, 2024 and sell it today you would earn a total of 45.00 from holding JSC Halyk bank or generate 2.61% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 95.65% |
| Values | Daily Returns |
JSC Halyk bank vs. Trisura Group
Performance |
| Timeline |
| JSC Halyk bank |
| Trisura Group |
JSC Halyk and Trisura Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with JSC Halyk and Trisura
The main advantage of trading using opposite JSC Halyk and Trisura positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if JSC Halyk position performs unexpectedly, Trisura 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 Trisura will offset losses from the drop in Trisura's long position.| JSC Halyk vs. China Merchants Bank | JSC Halyk vs. HDFC Bank Limited | JSC Halyk vs. ICICI Bank Limited | JSC Halyk vs. PT Bank Central |
| Trisura vs. CDN IMPERIAL BANK | Trisura vs. The Hanover Insurance | Trisura vs. Austevoll Seafood ASA | Trisura vs. JSC Halyk bank |
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 Cryptocurrency Center module to build and monitor diversified portfolio of extremely risky digital assets and cryptocurrency.
Other Complementary Tools
| Economic Indicators Top statistical indicators that provide insights into how an economy is performing | |
| Portfolio Anywhere Track or share privately all of your investments from the convenience of any device | |
| Portfolio Suggestion Get suggestions outside of your existing asset allocation including your own model portfolios | |
| Content Syndication Quickly integrate customizable finance content to your own investment portal | |
| Odds Of Bankruptcy Get analysis of equity chance of financial distress in the next 2 years |