Correlation Between Infomedia Press and Whirlpool
Specify exactly 2 symbols:
By analyzing existing cross correlation between Infomedia Press Limited and Whirlpool of India, you can compare the effects of market volatilities on Infomedia Press and Whirlpool 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 Whirlpool. Check out your portfolio center. Please also check ongoing floating volatility patterns of Infomedia Press and Whirlpool.
Diversification Opportunities for Infomedia Press and Whirlpool
0.9 | Correlation Coefficient |
Almost no diversification
The 3 months correlation between Infomedia and Whirlpool is 0.9. Overlapping area represents the amount of risk that can be diversified away by holding Infomedia Press Limited and Whirlpool of India in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Whirlpool of India 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 Whirlpool. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Whirlpool of India has no effect on the direction of Infomedia Press i.e., Infomedia Press and Whirlpool go up and down completely randomly.
Pair Corralation between Infomedia Press and Whirlpool
Assuming the 90 days trading horizon Infomedia Press Limited is expected to generate 1.62 times more return on investment than Whirlpool. However, Infomedia Press is 1.62 times more volatile than Whirlpool of India. It trades about 0.05 of its potential returns per unit of risk. Whirlpool of India is currently generating about 0.05 per unit of risk. If you would invest 610.00 in Infomedia Press Limited on September 15, 2024 and sell it today you would earn a total of 176.00 from holding Infomedia Press Limited or generate 28.85% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Strong |
| Accuracy | 99.25% |
| Values | Daily Returns |
Infomedia Press Limited vs. Whirlpool of India
Performance |
| Timeline |
| Infomedia Press |
| Whirlpool of India |
Infomedia Press and Whirlpool Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Infomedia Press and Whirlpool
The main advantage of trading using opposite Infomedia Press and Whirlpool positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Infomedia Press position performs unexpectedly, Whirlpool 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 Whirlpool will offset losses from the drop in Whirlpool's long position.| Infomedia Press vs. MRF Limited | Infomedia Press vs. JSW Holdings Limited | Infomedia Press vs. Maharashtra Scooters Limited | Infomedia Press vs. Nalwa Sons Investments |
| Whirlpool vs. Entertainment Network Limited | Whirlpool vs. Shemaroo Entertainment Limited | Whirlpool vs. Infomedia Press Limited | Whirlpool vs. Bharatiya Global Infomedia |
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 Commodity Directory module to find actively traded commodities issued by global exchanges.
Other Complementary Tools
| Balance Of Power Check stock momentum by analyzing Balance Of Power indicator and other technical ratios | |
| Investing Opportunities Build portfolios using our predefined set of ideas and optimize them against your investing preferences | |
| Idea Optimizer Use advanced portfolio builder with pre-computed micro ideas to build optimal portfolio | |
| Equity Analysis Research over 250,000 global equities including funds, stocks and ETFs to find investment opportunities | |
| Commodity Channel Use Commodity Channel Index to analyze current equity momentum |