Correlation Between LH Hotel and Bhiraj Office
Specify exactly 2 symbols:
By analyzing existing cross correlation between LH Hotel Leasehold and Bhiraj Office Leasehold, you can compare the effects of market volatilities on LH Hotel and Bhiraj Office 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 LH Hotel with a short position of Bhiraj Office. Check out your portfolio center. Please also check ongoing floating volatility patterns of LH Hotel and Bhiraj Office.
Diversification Opportunities for LH Hotel and Bhiraj Office
0.55 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between LHHOTEL and Bhiraj is 0.55. Overlapping area represents the amount of risk that can be diversified away by holding LH Hotel Leasehold and Bhiraj Office Leasehold in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Bhiraj Office Leasehold and LH Hotel 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 LH Hotel Leasehold are associated (or correlated) with Bhiraj Office. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Bhiraj Office Leasehold has no effect on the direction of LH Hotel i.e., LH Hotel and Bhiraj Office go up and down completely randomly.
Pair Corralation between LH Hotel and Bhiraj Office
Assuming the 90 days trading horizon LH Hotel Leasehold is expected to under-perform the Bhiraj Office. In addition to that, LH Hotel is 3.15 times more volatile than Bhiraj Office Leasehold. It trades about -0.11 of its total potential returns per unit of risk. Bhiraj Office Leasehold is currently generating about 0.01 per unit of volatility. If you would invest 510.00 in Bhiraj Office Leasehold on September 1, 2024 and sell it today you would earn a total of 0.00 from holding Bhiraj Office Leasehold or generate 0.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
LH Hotel Leasehold vs. Bhiraj Office Leasehold
Performance |
| Timeline |
| LH Hotel Leasehold |
| Bhiraj Office Leasehold |
LH Hotel and Bhiraj Office Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with LH Hotel and Bhiraj Office
The main advantage of trading using opposite LH Hotel and Bhiraj Office positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if LH Hotel position performs unexpectedly, Bhiraj Office 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 Bhiraj Office will offset losses from the drop in Bhiraj Office's long position.| LH Hotel vs. LH Shopping Centers | LH Hotel vs. Quality Houses Property | LH Hotel vs. Impact Growth REIT | LH Hotel vs. CPN Retail Growth |
| Bhiraj Office vs. LH Shopping Centers | Bhiraj Office vs. HEMARAJ INDUSTRIAL PROPERTY | Bhiraj Office vs. Land and Houses |
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 Fundamental Analysis module to view fundamental data based on most recent published financial statements.
Other Complementary Tools
| Portfolio File Import Quickly import all of your third-party portfolios from your local drive in csv format | |
| Risk-Return Analysis View associations between returns expected from investment and the risk you assume | |
| Technical Analysis Check basic technical indicators and analysis based on most latest market data | |
| Analyst Advice Analyst recommendations and target price estimates broken down by several categories | |
| USA ETFs Find actively traded Exchange Traded Funds (ETF) in USA |