Correlation Between ICICI Bank and Samhi Hotels
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By analyzing existing cross correlation between ICICI Bank Limited and Samhi Hotels Limited, you can compare the effects of market volatilities on ICICI Bank and Samhi Hotels 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 ICICI Bank with a short position of Samhi Hotels. Check out your portfolio center. Please also check ongoing floating volatility patterns of ICICI Bank and Samhi Hotels.
Diversification Opportunities for ICICI Bank and Samhi Hotels
0.35 | Correlation Coefficient |
Weak diversification
The 3 months correlation between ICICI and Samhi is 0.35. Overlapping area represents the amount of risk that can be diversified away by holding ICICI Bank Limited and Samhi Hotels Limited in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Samhi Hotels Limited and ICICI Bank 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 ICICI Bank Limited are associated (or correlated) with Samhi Hotels. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Samhi Hotels Limited has no effect on the direction of ICICI Bank i.e., ICICI Bank and Samhi Hotels go up and down completely randomly.
Pair Corralation between ICICI Bank and Samhi Hotels
Assuming the 90 days trading horizon ICICI Bank Limited is expected to generate 0.38 times more return on investment than Samhi Hotels. However, ICICI Bank Limited is 2.67 times less risky than Samhi Hotels. It trades about -0.04 of its potential returns per unit of risk. Samhi Hotels Limited is currently generating about -0.19 per unit of risk. If you would invest 126,600 in ICICI Bank Limited on November 6, 2024 and sell it today you would lose (1,300) from holding ICICI Bank Limited or give up 1.03% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
ICICI Bank Limited vs. Samhi Hotels Limited
Performance |
| Timeline |
| ICICI Bank Limited |
| Samhi Hotels Limited |
ICICI Bank and Samhi Hotels Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with ICICI Bank and Samhi Hotels
The main advantage of trading using opposite ICICI Bank and Samhi Hotels positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if ICICI Bank position performs unexpectedly, Samhi Hotels 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 Samhi Hotels will offset losses from the drop in Samhi Hotels' long position.| ICICI Bank vs. Spencers Retail Limited | ICICI Bank vs. Zota Health Care | ICICI Bank vs. V2 Retail Limited | ICICI Bank vs. Apollo Hospitals Enterprise |
| Samhi Hotels vs. Consolidated Construction Consortium | Samhi Hotels vs. Biofil Chemicals Pharmaceuticals | Samhi Hotels vs. Refex Industries Limited | Samhi Hotels vs. Kingfa Science Technology |
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 Sync Your Broker module to sync your existing holdings, watchlists, positions or portfolios from thousands of online brokerage services, banks, investment account aggregators and robo-advisors..
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