Correlation Between Indian Card and Asian Hotels
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By analyzing existing cross correlation between Indian Card Clothing and Asian Hotels Limited, you can compare the effects of market volatilities on Indian Card and Asian 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 Indian Card with a short position of Asian Hotels. Check out your portfolio center. Please also check ongoing floating volatility patterns of Indian Card and Asian Hotels.
Diversification Opportunities for Indian Card and Asian Hotels
0.35 | Correlation Coefficient |
Weak diversification
The 3 months correlation between Indian and Asian is 0.35. Overlapping area represents the amount of risk that can be diversified away by holding Indian Card Clothing and Asian Hotels Limited in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Asian Hotels Limited and Indian Card 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 Indian Card Clothing are associated (or correlated) with Asian Hotels. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Asian Hotels Limited has no effect on the direction of Indian Card i.e., Indian Card and Asian Hotels go up and down completely randomly.
Pair Corralation between Indian Card and Asian Hotels
Assuming the 90 days trading horizon Indian Card Clothing is expected to under-perform the Asian Hotels. In addition to that, Indian Card is 1.14 times more volatile than Asian Hotels Limited. It trades about -0.09 of its total potential returns per unit of risk. Asian Hotels Limited is currently generating about 0.41 per unit of volatility. If you would invest 19,253 in Asian Hotels Limited on October 13, 2024 and sell it today you would earn a total of 8,917 from holding Asian Hotels Limited or generate 46.31% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 95.24% |
| Values | Daily Returns |
Indian Card Clothing vs. Asian Hotels Limited
Performance |
| Timeline |
| Indian Card Clothing |
| Asian Hotels Limited |
Indian Card and Asian Hotels Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Indian Card and Asian Hotels
The main advantage of trading using opposite Indian Card and Asian Hotels positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Indian Card position performs unexpectedly, Asian 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 Asian Hotels will offset losses from the drop in Asian Hotels' long position.| Indian Card vs. Advani Hotels Resorts | Indian Card vs. EMBASSY OFFICE PARKS | Indian Card vs. Samhi Hotels Limited | Indian Card vs. Life Insurance |
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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 Equity Search module to search for actively traded equities including funds and ETFs from over 30 global markets.
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