Correlation Between JSC Halyk and Trisura Group
Can any of the company-specific risk be diversified away by investing in both JSC Halyk and Trisura Group 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 Group 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 Group 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 Group. Check out your portfolio center. Please also check ongoing floating volatility patterns of JSC Halyk and Trisura Group.
Diversification Opportunities for JSC Halyk and Trisura Group
-0.83 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between JSC and Trisura is -0.83. 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 Group. 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 Group go up and down completely randomly.
Pair Corralation between JSC Halyk and Trisura Group
Assuming the 90 days trading horizon JSC Halyk bank is expected to generate 1.69 times more return on investment than Trisura Group. However, JSC Halyk is 1.69 times more volatile than Trisura Group. It trades about 0.15 of its potential returns per unit of risk. Trisura Group is currently generating about -0.16 per unit of risk. If you would invest 1,750 in JSC Halyk bank on October 22, 2024 and sell it today you would earn a total of 140.00 from holding JSC Halyk bank or generate 8.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Significant |
| Accuracy | 100.0% |
| Values | Daily Returns |
JSC Halyk bank vs. Trisura Group
Performance |
| Timeline |
| JSC Halyk bank |
| Trisura Group |
JSC Halyk and Trisura Group Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with JSC Halyk and Trisura Group
The main advantage of trading using opposite JSC Halyk and Trisura Group positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if JSC Halyk position performs unexpectedly, Trisura Group 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 Group will offset losses from the drop in Trisura Group's long position.| JSC Halyk vs. ADRIATIC METALS LS 013355 | JSC Halyk vs. Calibre Mining Corp | JSC Halyk vs. CVS Health | JSC Halyk vs. Universal Health Realty |
| Trisura Group vs. USWE SPORTS AB | Trisura Group vs. Hanison Construction Holdings | Trisura Group vs. Nufarm Limited | Trisura Group vs. Sumitomo Mitsui Construction |
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 Efficient Frontier module to plot and analyze your portfolio and positions against risk-return landscape of the market..
Other Complementary Tools
| Price Ceiling Movement Calculate and plot Price Ceiling Movement for different equity instruments | |
| Money Flow Index Determine momentum by analyzing Money Flow Index and other technical indicators | |
| Technical Analysis Check basic technical indicators and analysis based on most latest market data | |
| Price Exposure Probability Analyze equity upside and downside potential for a given time horizon across multiple markets | |
| AI Portfolio Architect Use AI to generate optimal portfolios and find profitable investment opportunities |