Correlation Between Global Health and Infomedia Press
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By analyzing existing cross correlation between Global Health Limited and Infomedia Press Limited, you can compare the effects of market volatilities on Global Health and Infomedia Press 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 Global Health with a short position of Infomedia Press. Check out your portfolio center. Please also check ongoing floating volatility patterns of Global Health and Infomedia Press.
Diversification Opportunities for Global Health and Infomedia Press
-0.64 | Correlation Coefficient |
Excellent diversification
The 3 months correlation between Global and Infomedia is -0.64. Overlapping area represents the amount of risk that can be diversified away by holding Global Health Limited and Infomedia Press Limited in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Infomedia Press and Global Health 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 Global Health Limited are associated (or correlated) with Infomedia Press. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Infomedia Press has no effect on the direction of Global Health i.e., Global Health and Infomedia Press go up and down completely randomly.
Pair Corralation between Global Health and Infomedia Press
Assuming the 90 days trading horizon Global Health Limited is expected to generate 0.69 times more return on investment than Infomedia Press. However, Global Health Limited is 1.46 times less risky than Infomedia Press. It trades about 0.07 of its potential returns per unit of risk. Infomedia Press Limited is currently generating about 0.01 per unit of risk. If you would invest 74,725 in Global Health Limited on August 25, 2024 and sell it today you would earn a total of 36,640 from holding Global Health Limited or generate 49.03% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Weak |
| Accuracy | 99.65% |
| Values | Daily Returns |
Global Health Limited vs. Infomedia Press Limited
Performance |
| Timeline |
| Global Health Limited |
| Infomedia Press |
Global Health and Infomedia Press Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Global Health and Infomedia Press
The main advantage of trading using opposite Global Health and Infomedia Press positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Global Health position performs unexpectedly, Infomedia Press 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 Infomedia Press will offset losses from the drop in Infomedia Press' long position.| Global Health vs. MAS Financial Services | Global Health vs. JM Financial Limited | Global Health vs. HDFC Life Insurance | Global Health vs. Usha Martin Education |
| Infomedia Press vs. Garuda Construction Engineering | Infomedia Press vs. Man Infraconstruction Limited | Infomedia Press vs. Lemon Tree Hotels | Infomedia Press vs. Ortel Communications 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 Sign In To Macroaxis module to sign in to explore Macroaxis' wealth optimization platform and fintech modules.
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