Correlation Between Lotus Eye and Man Infraconstructio
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By analyzing existing cross correlation between Lotus Eye Hospital and Man Infraconstruction Limited, you can compare the effects of market volatilities on Lotus Eye and Man Infraconstructio 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 Lotus Eye with a short position of Man Infraconstructio. Check out your portfolio center. Please also check ongoing floating volatility patterns of Lotus Eye and Man Infraconstructio.
Diversification Opportunities for Lotus Eye and Man Infraconstructio
0.59 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between Lotus and Man is 0.59. Overlapping area represents the amount of risk that can be diversified away by holding Lotus Eye Hospital and Man Infraconstruction Limited in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Man Infraconstruction and Lotus Eye 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 Lotus Eye Hospital are associated (or correlated) with Man Infraconstructio. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Man Infraconstruction has no effect on the direction of Lotus Eye i.e., Lotus Eye and Man Infraconstructio go up and down completely randomly.
Pair Corralation between Lotus Eye and Man Infraconstructio
Assuming the 90 days trading horizon Lotus Eye Hospital is expected to generate 0.66 times more return on investment than Man Infraconstructio. However, Lotus Eye Hospital is 1.52 times less risky than Man Infraconstructio. It trades about -0.14 of its potential returns per unit of risk. Man Infraconstruction Limited is currently generating about -0.38 per unit of risk. If you would invest 7,083 in Lotus Eye Hospital on November 2, 2024 and sell it today you would lose (434.00) from holding Lotus Eye Hospital or give up 6.13% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Lotus Eye Hospital vs. Man Infraconstruction Limited
Performance |
| Timeline |
| Lotus Eye Hospital |
| Man Infraconstruction |
Lotus Eye and Man Infraconstructio Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Lotus Eye and Man Infraconstructio
The main advantage of trading using opposite Lotus Eye and Man Infraconstructio positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Lotus Eye position performs unexpectedly, Man Infraconstructio 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 Man Infraconstructio will offset losses from the drop in Man Infraconstructio's long position.| Lotus Eye vs. Dodla Dairy Limited | Lotus Eye vs. Kohinoor Foods Limited | Lotus Eye vs. ADF Foods Limited | Lotus Eye vs. Tree House Education |
| Man Infraconstructio vs. Hathway Cable Datacom | Man Infraconstructio vs. Aarey Drugs Pharmaceuticals | Man Infraconstructio vs. Modi Rubber Limited | Man Infraconstructio vs. One 97 Communications |
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 Cryptocurrency Center module to build and monitor diversified portfolio of extremely risky digital assets and cryptocurrency.
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