Correlation Between Lotus Eye and PB Fintech
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By analyzing existing cross correlation between Lotus Eye Hospital and PB Fintech Limited, you can compare the effects of market volatilities on Lotus Eye and PB Fintech 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 PB Fintech. Check out your portfolio center. Please also check ongoing floating volatility patterns of Lotus Eye and PB Fintech.
Diversification Opportunities for Lotus Eye and PB Fintech
0.21 | Correlation Coefficient |
Modest diversification
The 3 months correlation between Lotus and POLICYBZR is 0.21. Overlapping area represents the amount of risk that can be diversified away by holding Lotus Eye Hospital and PB Fintech Limited in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on PB Fintech Limited 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 PB Fintech. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of PB Fintech Limited has no effect on the direction of Lotus Eye i.e., Lotus Eye and PB Fintech go up and down completely randomly.
Pair Corralation between Lotus Eye and PB Fintech
Assuming the 90 days trading horizon Lotus Eye is expected to generate 1.62 times less return on investment than PB Fintech. But when comparing it to its historical volatility, Lotus Eye Hospital is 1.06 times less risky than PB Fintech. It trades about 0.1 of its potential returns per unit of risk. PB Fintech Limited is currently generating about 0.16 of returns per unit of risk over similar time horizon. If you would invest 170,490 in PB Fintech Limited on August 30, 2024 and sell it today you would earn a total of 13,900 from holding PB Fintech Limited or generate 8.15% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Lotus Eye Hospital vs. PB Fintech Limited
Performance |
| Timeline |
| Lotus Eye Hospital |
| PB Fintech Limited |
Lotus Eye and PB Fintech Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Lotus Eye and PB Fintech
The main advantage of trading using opposite Lotus Eye and PB Fintech positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Lotus Eye position performs unexpectedly, PB Fintech 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 PB Fintech will offset losses from the drop in PB Fintech's long position.| Lotus Eye vs. State Bank of | Lotus Eye vs. Life Insurance | Lotus Eye vs. HDFC Bank Limited | Lotus Eye vs. ICICI Bank Limited |
| PB Fintech vs. Gangotri Textiles Limited | PB Fintech vs. Hemisphere Properties India | PB Fintech vs. Kingfa Science Technology | PB Fintech vs. Rico Auto Industries |
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 Piotroski F Score module to get Piotroski F Score based on the binary analysis strategy of nine different fundamentals.
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