Correlation Between Karachi 100 and Gulistan Spinning
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By analyzing existing cross correlation between Karachi 100 and Gulistan Spinning Mills, you can compare the effects of market volatilities on Karachi 100 and Gulistan Spinning 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 Karachi 100 with a short position of Gulistan Spinning. Check out your portfolio center. Please also check ongoing floating volatility patterns of Karachi 100 and Gulistan Spinning.
Diversification Opportunities for Karachi 100 and Gulistan Spinning
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Karachi and Gulistan is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Karachi 100 and Gulistan Spinning Mills in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Gulistan Spinning Mills and Karachi 100 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 Karachi 100 are associated (or correlated) with Gulistan Spinning. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Gulistan Spinning Mills has no effect on the direction of Karachi 100 i.e., Karachi 100 and Gulistan Spinning go up and down completely randomly.
Pair Corralation between Karachi 100 and Gulistan Spinning
If you would invest 9,322,456 in Karachi 100 on September 13, 2024 and sell it today you would earn a total of 1,758,544 from holding Karachi 100 or generate 18.86% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 4.55% |
| Values | Daily Returns |
Karachi 100 vs. Gulistan Spinning Mills
Performance |
| Timeline |
Karachi 100 and Gulistan Spinning Volatility Contrast
Predicted Return Density |
| Returns |
Karachi 100
Pair trading matchups for Karachi 100
Gulistan Spinning Mills
Pair trading matchups for Gulistan Spinning
Pair Trading with Karachi 100 and Gulistan Spinning
The main advantage of trading using opposite Karachi 100 and Gulistan Spinning positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Karachi 100 position performs unexpectedly, Gulistan Spinning 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 Gulistan Spinning will offset losses from the drop in Gulistan Spinning's long position.| Karachi 100 vs. Aisha Steel Mills | Karachi 100 vs. Shifa International Hospitals | Karachi 100 vs. Nimir Industrial Chemical | Karachi 100 vs. ORIX Leasing Pakistan |
| Gulistan Spinning vs. Pakistan Telecommunication | Gulistan Spinning vs. Century Insurance | Gulistan Spinning vs. Habib Insurance | Gulistan Spinning vs. Atlas Insurance |
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 FinTech Suite module to use AI to screen and filter profitable investment opportunities.
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