Correlation Between Osia Hyper and MRF
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By analyzing existing cross correlation between Osia Hyper Retail and MRF Limited, you can compare the effects of market volatilities on Osia Hyper and MRF 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 Osia Hyper with a short position of MRF. Check out your portfolio center. Please also check ongoing floating volatility patterns of Osia Hyper and MRF.
Diversification Opportunities for Osia Hyper and MRF
0.75 | Correlation Coefficient |
Poor diversification
The 3 months correlation between Osia and MRF is 0.75. Overlapping area represents the amount of risk that can be diversified away by holding Osia Hyper Retail and MRF Limited in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on MRF Limited and Osia Hyper 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 Osia Hyper Retail are associated (or correlated) with MRF. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of MRF Limited has no effect on the direction of Osia Hyper i.e., Osia Hyper and MRF go up and down completely randomly.
Pair Corralation between Osia Hyper and MRF
Assuming the 90 days trading horizon Osia Hyper Retail is expected to under-perform the MRF. In addition to that, Osia Hyper is 2.7 times more volatile than MRF Limited. It trades about -0.03 of its total potential returns per unit of risk. MRF Limited is currently generating about 0.09 per unit of volatility. If you would invest 12,252,400 in MRF Limited on September 1, 2024 and sell it today you would earn a total of 272,700 from holding MRF Limited or generate 2.23% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Significant |
| Accuracy | 95.45% |
| Values | Daily Returns |
Osia Hyper Retail vs. MRF Limited
Performance |
| Timeline |
| Osia Hyper Retail |
| MRF Limited |
Osia Hyper and MRF Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Osia Hyper and MRF
The main advantage of trading using opposite Osia Hyper and MRF positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Osia Hyper position performs unexpectedly, MRF 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 MRF will offset losses from the drop in MRF's long position.| Osia Hyper vs. Kingfa Science Technology | Osia Hyper vs. Rico Auto Industries | Osia Hyper vs. GACM Technologies Limited | Osia Hyper vs. COSMO FIRST LIMITED |
| MRF vs. Osia Hyper Retail | MRF vs. BF Utilities Limited | MRF vs. Sambhaav Media Limited | MRF vs. Touchwood Entertainment 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 Portfolio Volatility module to check portfolio volatility and analyze historical return density to properly model market risk.
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