Correlation Between Kamat Hotels and Samhi Hotels
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By analyzing existing cross correlation between Kamat Hotels Limited and Samhi Hotels Limited, you can compare the effects of market volatilities on Kamat 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 Kamat Hotels with a short position of Samhi Hotels. Check out your portfolio center. Please also check ongoing floating volatility patterns of Kamat Hotels and Samhi Hotels.
Diversification Opportunities for Kamat Hotels and Samhi Hotels
0.07 | Correlation Coefficient |
Significant diversification
The 3 months correlation between Kamat and Samhi is 0.07. Overlapping area represents the amount of risk that can be diversified away by holding Kamat Hotels Limited 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 Kamat 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 Kamat Hotels Limited 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 Kamat Hotels i.e., Kamat Hotels and Samhi Hotels go up and down completely randomly.
Pair Corralation between Kamat Hotels and Samhi Hotels
Assuming the 90 days trading horizon Kamat Hotels Limited is expected to under-perform the Samhi Hotels. In addition to that, Kamat Hotels is 1.45 times more volatile than Samhi Hotels Limited. It trades about -0.01 of its total potential returns per unit of risk. Samhi Hotels Limited is currently generating about 0.01 per unit of volatility. If you would invest 18,175 in Samhi Hotels Limited on August 30, 2024 and sell it today you would earn a total of 125.00 from holding Samhi Hotels Limited or generate 0.69% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Kamat Hotels Limited vs. Samhi Hotels Limited
Performance |
| Timeline |
| Kamat Hotels Limited |
| Samhi Hotels Limited |
Kamat Hotels and Samhi Hotels Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Kamat Hotels and Samhi Hotels
The main advantage of trading using opposite Kamat Hotels and Samhi Hotels positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Kamat 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.| Kamat Hotels vs. Global Health Limited | Kamat Hotels vs. Hisar Metal Industries | Kamat Hotels vs. Aster DM Healthcare | Kamat Hotels vs. Max Healthcare Institute |
| Samhi Hotels vs. Som Distilleries Breweries | Samhi Hotels vs. Data Patterns Limited | Samhi Hotels vs. Datamatics Global Services | Samhi Hotels vs. DiGiSPICE Technologies Limited |
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 Headlines Timeline module to stay connected to all market stories and filter out noise. Drill down to analyze hype elasticity.
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