Correlation Between Mangalam Organics and Kamat Hotels
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By analyzing existing cross correlation between Mangalam Organics Limited and Kamat Hotels Limited, you can compare the effects of market volatilities on Mangalam Organics and Kamat Hotels 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 Mangalam Organics with a short position of Kamat Hotels. Check out your portfolio center. Please also check ongoing floating volatility patterns of Mangalam Organics and Kamat Hotels.
Diversification Opportunities for Mangalam Organics and Kamat Hotels
0.22 | Correlation Coefficient |
Modest diversification
The 3 months correlation between Mangalam and Kamat is 0.22. Overlapping area represents the amount of risk that can be diversified away by holding Mangalam Organics Limited and Kamat Hotels Limited in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Kamat Hotels Limited and Mangalam Organics 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 Mangalam Organics Limited are associated (or correlated) with Kamat Hotels. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Kamat Hotels Limited has no effect on the direction of Mangalam Organics i.e., Mangalam Organics and Kamat Hotels go up and down completely randomly.
Pair Corralation between Mangalam Organics and Kamat Hotels
Assuming the 90 days trading horizon Mangalam Organics Limited is expected to under-perform the Kamat Hotels. But the stock apears to be less risky and, when comparing its historical volatility, Mangalam Organics Limited is 1.2 times less risky than Kamat Hotels. The stock trades about -0.03 of its potential returns per unit of risk. The Kamat Hotels Limited is currently generating about 0.0 of returns per unit of risk over similar time horizon. If you would invest 21,014 in Kamat Hotels Limited on August 25, 2024 and sell it today you would lose (713.00) from holding Kamat Hotels Limited or give up 3.39% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Mangalam Organics Limited vs. Kamat Hotels Limited
Performance |
| Timeline |
| Mangalam Organics |
| Kamat Hotels Limited |
Mangalam Organics and Kamat Hotels Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Mangalam Organics and Kamat Hotels
The main advantage of trading using opposite Mangalam Organics and Kamat Hotels positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Mangalam Organics position performs unexpectedly, Kamat Hotels 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 Kamat Hotels will offset losses from the drop in Kamat Hotels' long position.| Mangalam Organics vs. Kamat Hotels Limited | Mangalam Organics vs. EIH Associated Hotels | Mangalam Organics vs. Ankit Metal Power | Mangalam Organics vs. Indian Metals Ferro |
| Kamat Hotels vs. MMTC Limited | Kamat Hotels vs. Kingfa Science Technology | Kamat Hotels vs. Rico Auto Industries | Kamat Hotels vs. GACM Technologies 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 Financial Widgets module to easily integrated Macroaxis content with over 30 different plug-and-play financial widgets.
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