Correlation Between Jindal Poly and SEPC
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By analyzing existing cross correlation between Jindal Poly Investment and SEPC Limited, you can compare the effects of market volatilities on Jindal Poly and SEPC 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 Jindal Poly with a short position of SEPC. Check out your portfolio center. Please also check ongoing floating volatility patterns of Jindal Poly and SEPC.
Diversification Opportunities for Jindal Poly and SEPC
-0.01 | Correlation Coefficient |
Good diversification
The 3 months correlation between Jindal and SEPC is -0.01. Overlapping area represents the amount of risk that can be diversified away by holding Jindal Poly Investment and SEPC Limited in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on SEPC Limited and Jindal Poly 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 Jindal Poly Investment are associated (or correlated) with SEPC. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of SEPC Limited has no effect on the direction of Jindal Poly i.e., Jindal Poly and SEPC go up and down completely randomly.
Pair Corralation between Jindal Poly and SEPC
Assuming the 90 days trading horizon Jindal Poly Investment is expected to generate 0.84 times more return on investment than SEPC. However, Jindal Poly Investment is 1.18 times less risky than SEPC. It trades about 0.06 of its potential returns per unit of risk. SEPC Limited is currently generating about 0.04 per unit of risk. If you would invest 40,255 in Jindal Poly Investment on October 25, 2024 and sell it today you would earn a total of 38,130 from holding Jindal Poly Investment or generate 94.72% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 99.8% |
| Values | Daily Returns |
Jindal Poly Investment vs. SEPC Limited
Performance |
| Timeline |
| Jindal Poly Investment |
| SEPC Limited |
Jindal Poly and SEPC Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Jindal Poly and SEPC
The main advantage of trading using opposite Jindal Poly and SEPC positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Jindal Poly position performs unexpectedly, SEPC 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 SEPC will offset losses from the drop in SEPC's long position.| Jindal Poly vs. Reliance Industries Limited | Jindal Poly vs. Life Insurance | Jindal Poly vs. Indian Oil | Jindal Poly vs. Oil Natural Gas |
| SEPC vs. Kamat Hotels Limited | SEPC vs. Juniper Hotels | SEPC vs. JGCHEMICALS LIMITED | SEPC vs. Omkar Speciality 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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