Correlation Between Home First and PB Fintech
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By analyzing existing cross correlation between Home First Finance and PB Fintech Limited, you can compare the effects of market volatilities on Home First and PB Fintech 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 Home First with a short position of PB Fintech. Check out your portfolio center. Please also check ongoing floating volatility patterns of Home First and PB Fintech.
Diversification Opportunities for Home First and PB Fintech
-0.68 | Correlation Coefficient |
Excellent diversification
The 3 months correlation between Home and POLICYBZR is -0.68. Overlapping area represents the amount of risk that can be diversified away by holding Home First Finance and PB Fintech Limited in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on PB Fintech Limited and Home First 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 Home First Finance are associated (or correlated) with PB Fintech. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of PB Fintech Limited has no effect on the direction of Home First i.e., Home First and PB Fintech go up and down completely randomly.
Pair Corralation between Home First and PB Fintech
Assuming the 90 days trading horizon Home First Finance is expected to generate 0.89 times more return on investment than PB Fintech. However, Home First Finance is 1.13 times less risky than PB Fintech. It trades about 0.09 of its potential returns per unit of risk. PB Fintech Limited is currently generating about -0.18 per unit of risk. If you would invest 102,225 in Home First Finance on October 11, 2024 and sell it today you would earn a total of 3,245 from holding Home First Finance or generate 3.17% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Weak |
| Accuracy | 95.24% |
| Values | Daily Returns |
Home First Finance vs. PB Fintech Limited
Performance |
| Timeline |
| Home First Finance |
| PB Fintech Limited |
Home First and PB Fintech Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Home First and PB Fintech
The main advantage of trading using opposite Home First and PB Fintech positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Home First position performs unexpectedly, PB Fintech 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 PB Fintech will offset losses from the drop in PB Fintech's long position.| Home First vs. Akums Drugs and | Home First vs. Indraprastha Medical | Home First vs. Welspun Investments and | Home First vs. ILFS Investment Managers |
| PB Fintech vs. Dhunseri Investments Limited | PB Fintech vs. Blue Jet Healthcare | PB Fintech vs. The Investment Trust | PB Fintech vs. Golden Tobacco 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 Competition Analyzer module to analyze and compare many basic indicators for a group of related or unrelated entities.
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