Correlation Between Infomedia Press and Lakshmi Finance
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By analyzing existing cross correlation between Infomedia Press Limited and Lakshmi Finance Industrial, you can compare the effects of market volatilities on Infomedia Press and Lakshmi Finance 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 Infomedia Press with a short position of Lakshmi Finance. Check out your portfolio center. Please also check ongoing floating volatility patterns of Infomedia Press and Lakshmi Finance.
Diversification Opportunities for Infomedia Press and Lakshmi Finance
0.17 | Correlation Coefficient |
Average diversification
The 3 months correlation between Infomedia and Lakshmi is 0.17. Overlapping area represents the amount of risk that can be diversified away by holding Infomedia Press Limited and Lakshmi Finance Industrial in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Lakshmi Finance Indu and Infomedia Press 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 Infomedia Press Limited are associated (or correlated) with Lakshmi Finance. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Lakshmi Finance Indu has no effect on the direction of Infomedia Press i.e., Infomedia Press and Lakshmi Finance go up and down completely randomly.
Pair Corralation between Infomedia Press and Lakshmi Finance
Assuming the 90 days trading horizon Infomedia Press Limited is expected to generate 0.83 times more return on investment than Lakshmi Finance. However, Infomedia Press Limited is 1.21 times less risky than Lakshmi Finance. It trades about -0.17 of its potential returns per unit of risk. Lakshmi Finance Industrial is currently generating about -0.28 per unit of risk. If you would invest 749.00 in Infomedia Press Limited on October 29, 2024 and sell it today you would lose (73.00) from holding Infomedia Press Limited or give up 9.75% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Infomedia Press Limited vs. Lakshmi Finance Industrial
Performance |
| Timeline |
| Infomedia Press |
| Lakshmi Finance Indu |
Infomedia Press and Lakshmi Finance Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Infomedia Press and Lakshmi Finance
The main advantage of trading using opposite Infomedia Press and Lakshmi Finance positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Infomedia Press position performs unexpectedly, Lakshmi Finance 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 Lakshmi Finance will offset losses from the drop in Lakshmi Finance's long position.| Infomedia Press vs. Nalwa Sons Investments | Infomedia Press vs. Ami Organics Limited | Infomedia Press vs. Sapphire Foods India | Infomedia Press vs. Foods Inns Limited |
| Lakshmi Finance vs. Silly Monks Entertainment | Lakshmi Finance vs. Elin Electronics Limited | Lakshmi Finance vs. Infomedia Press Limited | Lakshmi Finance vs. Baazar Style Retail |
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 Global Markets Map module to get a quick overview of global market snapshot using zoomable world map. Drill down to check world indexes.
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