Correlation Between Kamat Hotels and Spentex Industries
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By analyzing existing cross correlation between Kamat Hotels Limited and Spentex Industries Limited, you can compare the effects of market volatilities on Kamat Hotels and Spentex Industries 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 Spentex Industries. Check out your portfolio center. Please also check ongoing floating volatility patterns of Kamat Hotels and Spentex Industries.
Diversification Opportunities for Kamat Hotels and Spentex Industries
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Kamat and Spentex is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Kamat Hotels Limited and Spentex Industries Limited in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Spentex Industries 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 Spentex Industries. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Spentex Industries has no effect on the direction of Kamat Hotels i.e., Kamat Hotels and Spentex Industries go up and down completely randomly.
Pair Corralation between Kamat Hotels and Spentex Industries
If you would invest 19,473 in Kamat Hotels Limited on September 15, 2024 and sell it today you would earn a total of 4,278 from holding Kamat Hotels Limited or generate 21.97% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Kamat Hotels Limited vs. Spentex Industries Limited
Performance |
| Timeline |
| Kamat Hotels Limited |
| Spentex Industries |
Kamat Hotels and Spentex Industries Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Kamat Hotels and Spentex Industries
The main advantage of trading using opposite Kamat Hotels and Spentex Industries positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Kamat Hotels position performs unexpectedly, Spentex Industries 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 Spentex Industries will offset losses from the drop in Spentex Industries' long position.| Kamat Hotels vs. Indian Railway Finance | Kamat Hotels vs. Cholamandalam Financial Holdings | Kamat Hotels vs. Reliance Industries Limited | Kamat Hotels vs. Tata Consultancy Services |
| Spentex Industries vs. Viceroy Hotels Limited | Spentex Industries vs. EIH Associated Hotels | Spentex Industries vs. Kamat Hotels Limited | Spentex Industries vs. Healthcare Global Enterprises |
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 CEOs Directory module to screen CEOs from public companies around the world.
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