Correlation Between Man Infraconstructio and Kalyani Investment
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By analyzing existing cross correlation between Man Infraconstruction Limited and Kalyani Investment, you can compare the effects of market volatilities on Man Infraconstructio and Kalyani Investment 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 Kalyani Investment. Check out your portfolio center. Please also check ongoing floating volatility patterns of Man Infraconstructio and Kalyani Investment.
Diversification Opportunities for Man Infraconstructio and Kalyani Investment
-0.63 | Correlation Coefficient |
Excellent diversification
The 3 months correlation between Man and Kalyani is -0.63. Overlapping area represents the amount of risk that can be diversified away by holding Man Infraconstruction Limited and Kalyani Investment in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Kalyani Investment 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 Kalyani Investment. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Kalyani Investment has no effect on the direction of Man Infraconstructio i.e., Man Infraconstructio and Kalyani Investment go up and down completely randomly.
Pair Corralation between Man Infraconstructio and Kalyani Investment
Assuming the 90 days trading horizon Man Infraconstruction Limited is expected to generate 1.15 times more return on investment than Kalyani Investment. However, Man Infraconstructio is 1.15 times more volatile than Kalyani Investment. It trades about -0.11 of its potential returns per unit of risk. Kalyani Investment is currently generating about -0.27 per unit of risk. If you would invest 23,395 in Man Infraconstruction Limited on October 25, 2024 and sell it today you would lose (1,554) from holding Man Infraconstruction Limited or give up 6.64% 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. Kalyani Investment
Performance |
| Timeline |
| Man Infraconstruction |
| Kalyani Investment |
Man Infraconstructio and Kalyani Investment Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Man Infraconstructio and Kalyani Investment
The main advantage of trading using opposite Man Infraconstructio and Kalyani Investment positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Man Infraconstructio position performs unexpectedly, Kalyani Investment 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 Kalyani Investment will offset losses from the drop in Kalyani Investment's long position.| Man Infraconstructio vs. Cartrade Tech Limited | Man Infraconstructio vs. Silly Monks Entertainment | Man Infraconstructio vs. V2 Retail Limited | Man Infraconstructio vs. Total Transport Systems |
| Kalyani Investment vs. Nalwa Sons Investments | Kalyani Investment vs. Oriental Hotels Limited | Kalyani Investment vs. Samhi Hotels Limited | Kalyani Investment vs. EIH Associated Hotels |
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 Portfolio Rebalancing module to analyze risk-adjusted returns against different time horizons to find asset-allocation targets.
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