Correlation Between Oriental Hotels and Global Health
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By analyzing existing cross correlation between Oriental Hotels Limited and Global Health Limited, you can compare the effects of market volatilities on Oriental Hotels and Global Health 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 Oriental Hotels with a short position of Global Health. Check out your portfolio center. Please also check ongoing floating volatility patterns of Oriental Hotels and Global Health.
Diversification Opportunities for Oriental Hotels and Global Health
-0.4 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Oriental and Global is -0.4. Overlapping area represents the amount of risk that can be diversified away by holding Oriental Hotels Limited and Global Health Limited in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Global Health Limited and Oriental Hotels 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 Oriental Hotels Limited are associated (or correlated) with Global Health. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Global Health Limited has no effect on the direction of Oriental Hotels i.e., Oriental Hotels and Global Health go up and down completely randomly.
Pair Corralation between Oriental Hotels and Global Health
Assuming the 90 days trading horizon Oriental Hotels Limited is expected to generate 1.32 times more return on investment than Global Health. However, Oriental Hotels is 1.32 times more volatile than Global Health Limited. It trades about 0.07 of its potential returns per unit of risk. Global Health Limited is currently generating about 0.05 per unit of risk. If you would invest 14,297 in Oriental Hotels Limited on January 27, 2025 and sell it today you would earn a total of 416.00 from holding Oriental Hotels Limited or generate 2.91% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Oriental Hotels Limited vs. Global Health Limited
Performance |
| Timeline |
| Oriental Hotels |
| Global Health Limited |
Oriental Hotels and Global Health Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Oriental Hotels and Global Health
The main advantage of trading using opposite Oriental Hotels and Global Health positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Oriental Hotels position performs unexpectedly, Global Health 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 Global Health will offset losses from the drop in Global Health's long position.| Oriental Hotels vs. The Investment Trust | Oriental Hotels vs. Jindal Poly Investment | Oriental Hotels vs. Industrial Investment Trust | Oriental Hotels vs. Meghmani Organics Limited |
| Global Health vs. Centum Electronics Limited | Global Health vs. Ankit Metal Power | Global Health vs. Reliance Home Finance | Global Health vs. Shyam Metalics and |
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 Crypto Correlations module to use cryptocurrency correlation module to diversify your cryptocurrency portfolio across multiple coins.
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