Correlation Between Intellect Design and Can Fin
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By analyzing existing cross correlation between Intellect Design Arena and Can Fin Homes, you can compare the effects of market volatilities on Intellect Design and Can Fin 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 Intellect Design with a short position of Can Fin. Check out your portfolio center. Please also check ongoing floating volatility patterns of Intellect Design and Can Fin.
Diversification Opportunities for Intellect Design and Can Fin
-0.73 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Intellect and Can is -0.73. Overlapping area represents the amount of risk that can be diversified away by holding Intellect Design Arena and Can Fin Homes in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Can Fin Homes and Intellect Design 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 Intellect Design Arena are associated (or correlated) with Can Fin. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Can Fin Homes has no effect on the direction of Intellect Design i.e., Intellect Design and Can Fin go up and down completely randomly.
Pair Corralation between Intellect Design and Can Fin
Assuming the 90 days trading horizon Intellect Design Arena is expected to under-perform the Can Fin. In addition to that, Intellect Design is 1.75 times more volatile than Can Fin Homes. It trades about -0.2 of its total potential returns per unit of risk. Can Fin Homes is currently generating about -0.2 per unit of volatility. If you would invest 73,090 in Can Fin Homes on November 3, 2024 and sell it today you would lose (6,320) from holding Can Fin Homes or give up 8.65% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Intellect Design Arena vs. Can Fin Homes
Performance |
| Timeline |
| Intellect Design Arena |
| Can Fin Homes |
Intellect Design and Can Fin Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Intellect Design and Can Fin
The main advantage of trading using opposite Intellect Design and Can Fin positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Intellect Design position performs unexpectedly, Can Fin 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 Can Fin will offset losses from the drop in Can Fin's long position.| Intellect Design vs. Modi Rubber Limited | Intellect Design vs. Iris Clothings Limited | Intellect Design vs. Ortel Communications Limited | Intellect Design vs. Pritish Nandy Communications |
| Can Fin vs. DMCC SPECIALITY CHEMICALS | Can Fin vs. IOL Chemicals and | Can Fin vs. JB Chemicals Pharmaceuticals | Can Fin vs. Fertilizers and Chemicals |
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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