Correlation Between Man Infraconstructio and Can Fin
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By analyzing existing cross correlation between Man Infraconstruction Limited and Can Fin Homes, you can compare the effects of market volatilities on Man Infraconstructio and Can Fin 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 Man Infraconstructio with a short position of Can Fin. Check out your portfolio center. Please also check ongoing floating volatility patterns of Man Infraconstructio and Can Fin.
Diversification Opportunities for Man Infraconstructio and Can Fin
-0.65 | Correlation Coefficient |
Excellent diversification
The 3 months correlation between Man and Can is -0.65. Overlapping area represents the amount of risk that can be diversified away by holding Man Infraconstruction Limited and Can Fin Homes in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Can Fin Homes and Man Infraconstructio 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 Man Infraconstruction Limited are associated (or correlated) with Can Fin. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Can Fin Homes has no effect on the direction of Man Infraconstructio i.e., Man Infraconstructio and Can Fin go up and down completely randomly.
Pair Corralation between Man Infraconstructio and Can Fin
Assuming the 90 days trading horizon Man Infraconstruction Limited is expected to generate 1.31 times more return on investment than Can Fin. However, Man Infraconstructio is 1.31 times more volatile than Can Fin Homes. It trades about -0.05 of its potential returns per unit of risk. Can Fin Homes is currently generating about -0.1 per unit of risk. If you would invest 23,294 in Man Infraconstruction Limited on October 24, 2024 and sell it today you would lose (839.00) from holding Man Infraconstruction Limited or give up 3.6% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Man Infraconstruction Limited vs. Can Fin Homes
Performance |
| Timeline |
| Man Infraconstruction |
| Can Fin Homes |
Man Infraconstructio and Can Fin Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Man Infraconstructio and Can Fin
The main advantage of trading using opposite Man Infraconstructio and Can Fin positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Man Infraconstructio position performs unexpectedly, Can Fin 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 Can Fin will offset losses from the drop in Can Fin's long position.| Man Infraconstructio vs. Automotive Stampings and | Man Infraconstructio vs. The Orissa Minerals | Man Infraconstructio vs. Kingfa Science Technology | Man Infraconstructio vs. Rico Auto Industries |
| Can Fin vs. Reliance Industries Limited | Can Fin vs. Oil Natural Gas | Can Fin vs. ICICI Bank Limited | Can Fin vs. Bharti Airtel Limited |
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 Global Markets Map module to get a quick overview of global market snapshot using zoomable world map. Drill down to check world indexes.
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