Correlation Between Juniper Hotels and SBI Life
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By analyzing existing cross correlation between Juniper Hotels and SBI Life Insurance, you can compare the effects of market volatilities on Juniper Hotels and SBI Life 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 SBI Life. Check out your portfolio center. Please also check ongoing floating volatility patterns of Juniper Hotels and SBI Life.
Diversification Opportunities for Juniper Hotels and SBI Life
0.84 | Correlation Coefficient |
Very poor diversification
The 3 months correlation between Juniper and SBI is 0.84. Overlapping area represents the amount of risk that can be diversified away by holding Juniper Hotels and SBI Life Insurance in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on SBI Life Insurance 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 SBI Life. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of SBI Life Insurance has no effect on the direction of Juniper Hotels i.e., Juniper Hotels and SBI Life go up and down completely randomly.
Pair Corralation between Juniper Hotels and SBI Life
Assuming the 90 days trading horizon Juniper Hotels is expected to generate 1.8 times more return on investment than SBI Life. However, Juniper Hotels is 1.8 times more volatile than SBI Life Insurance. It trades about 0.1 of its potential returns per unit of risk. SBI Life Insurance is currently generating about -0.2 per unit of risk. If you would invest 32,815 in Juniper Hotels on August 29, 2024 and sell it today you would earn a total of 1,760 from holding Juniper Hotels or generate 5.36% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Strong |
| Accuracy | 95.45% |
| Values | Daily Returns |
Juniper Hotels vs. SBI Life Insurance
Performance |
| Timeline |
| Juniper Hotels |
| SBI Life Insurance |
Juniper Hotels and SBI Life Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Juniper Hotels and SBI Life
The main advantage of trading using opposite Juniper Hotels and SBI Life positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Juniper Hotels position performs unexpectedly, SBI Life 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 SBI Life will offset losses from the drop in SBI Life's long position.| Juniper Hotels vs. Hemisphere Properties India | Juniper Hotels vs. India Glycols Limited | Juniper Hotels vs. Indo Borax Chemicals | Juniper Hotels vs. Kingfa Science Technology |
| SBI Life vs. MRF Limited | SBI Life vs. Nalwa Sons Investments | SBI Life vs. Kalyani Investment | SBI Life vs. Pilani Investment and |
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 Bollinger Bands module to use Bollinger Bands indicator to analyze target price for a given investing horizon.
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