Correlation Between Marti Technologies and Dalata Hotel
Can any of the company-specific risk be diversified away by investing in both Marti Technologies and Dalata Hotel at the same time? Although using a correlation coefficient on its own may not help to predict future stock returns, this module helps to understand the diversifiable risk of combining Marti Technologies and Dalata Hotel into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Marti Technologies and Dalata Hotel Group, you can compare the effects of market volatilities on Marti Technologies and Dalata Hotel 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 Marti Technologies with a short position of Dalata Hotel. Check out your portfolio center. Please also check ongoing floating volatility patterns of Marti Technologies and Dalata Hotel.
Diversification Opportunities for Marti Technologies and Dalata Hotel
-0.27 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Marti and Dalata is -0.27. Overlapping area represents the amount of risk that can be diversified away by holding Marti Technologies and Dalata Hotel Group in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Dalata Hotel Group and Marti Technologies 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 Marti Technologies are associated (or correlated) with Dalata Hotel. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Dalata Hotel Group has no effect on the direction of Marti Technologies i.e., Marti Technologies and Dalata Hotel go up and down completely randomly.
Pair Corralation between Marti Technologies and Dalata Hotel
Considering the 90-day investment horizon Marti Technologies is expected to under-perform the Dalata Hotel. In addition to that, Marti Technologies is 3.27 times more volatile than Dalata Hotel Group. It trades about -0.01 of its total potential returns per unit of risk. Dalata Hotel Group is currently generating about 0.04 per unit of volatility. If you would invest 336.00 in Dalata Hotel Group on August 31, 2024 and sell it today you would earn a total of 152.00 from holding Dalata Hotel Group or generate 45.24% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 91.82% |
| Values | Daily Returns |
Marti Technologies vs. Dalata Hotel Group
Performance |
| Timeline |
| Marti Technologies |
| Dalata Hotel Group |
Marti Technologies and Dalata Hotel Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Marti Technologies and Dalata Hotel
The main advantage of trading using opposite Marti Technologies and Dalata Hotel positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Marti Technologies position performs unexpectedly, Dalata Hotel 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 Dalata Hotel will offset losses from the drop in Dalata Hotel's long position.| Marti Technologies vs. Electrovaya Common Shares | Marti Technologies vs. Avis Budget Group | Marti Technologies vs. Supercom | Marti Technologies vs. United Rentals |
| Dalata Hotel vs. NH Foods Ltd | Dalata Hotel vs. Getty Realty | Dalata Hotel vs. Beyond Meat | Dalata Hotel vs. Marfrig Global Foods |
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 Investing Opportunities module to build portfolios using our predefined set of ideas and optimize them against your investing preferences.
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