Correlation Between Juniper Hotels and Samhi Hotels
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By analyzing existing cross correlation between Juniper Hotels and Samhi Hotels Limited, you can compare the effects of market volatilities on Juniper Hotels and Samhi 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 Juniper Hotels with a short position of Samhi Hotels. Check out your portfolio center. Please also check ongoing floating volatility patterns of Juniper Hotels and Samhi Hotels.
Diversification Opportunities for Juniper Hotels and Samhi Hotels
0.55 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between Juniper and Samhi is 0.55. Overlapping area represents the amount of risk that can be diversified away by holding Juniper Hotels and Samhi Hotels Limited in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Samhi Hotels Limited and Juniper Hotels 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 Juniper Hotels are associated (or correlated) with Samhi Hotels. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Samhi Hotels Limited has no effect on the direction of Juniper Hotels i.e., Juniper Hotels and Samhi Hotels go up and down completely randomly.
Pair Corralation between Juniper Hotels and Samhi Hotels
Assuming the 90 days trading horizon Juniper Hotels is expected to under-perform the Samhi Hotels. In addition to that, Juniper Hotels is 1.02 times more volatile than Samhi Hotels Limited. It trades about -0.11 of its total potential returns per unit of risk. Samhi Hotels Limited is currently generating about -0.04 per unit of volatility. If you would invest 19,736 in Samhi Hotels Limited on November 7, 2024 and sell it today you would lose (2,514) from holding Samhi Hotels Limited or give up 12.74% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Juniper Hotels vs. Samhi Hotels Limited
Performance |
| Timeline |
| Juniper Hotels |
| Samhi Hotels Limited |
Juniper Hotels and Samhi Hotels Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Juniper Hotels and Samhi Hotels
The main advantage of trading using opposite Juniper Hotels and Samhi Hotels positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Juniper Hotels position performs unexpectedly, Samhi 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 Samhi Hotels will offset losses from the drop in Samhi Hotels' long position.| Juniper Hotels vs. DCB Bank Limited | Juniper Hotels vs. Sonata Software Limited | Juniper Hotels vs. CSB Bank Limited | Juniper Hotels vs. Newgen Software Technologies |
| Samhi Hotels vs. Consolidated Construction Consortium | Samhi Hotels vs. Biofil Chemicals Pharmaceuticals | Samhi Hotels vs. Refex Industries Limited | Samhi Hotels vs. Kingfa Science Technology |
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 Portfolio Holdings module to check your current holdings and cash postion to detemine if your portfolio needs rebalancing.
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