Correlation Between PEOPLES LEASING and Singhe Hospitals
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By analyzing existing cross correlation between PEOPLES LEASING FINANCE and Singhe Hospitals, you can compare the effects of market volatilities on PEOPLES LEASING and Singhe Hospitals 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 PEOPLES LEASING with a short position of Singhe Hospitals. Check out your portfolio center. Please also check ongoing floating volatility patterns of PEOPLES LEASING and Singhe Hospitals.
Diversification Opportunities for PEOPLES LEASING and Singhe Hospitals
0.2 | Correlation Coefficient |
Modest diversification
The 3 months correlation between PEOPLES and Singhe is 0.2. Overlapping area represents the amount of risk that can be diversified away by holding PEOPLES LEASING FINANCE and Singhe Hospitals in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Singhe Hospitals and PEOPLES LEASING 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 PEOPLES LEASING FINANCE are associated (or correlated) with Singhe Hospitals. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Singhe Hospitals has no effect on the direction of PEOPLES LEASING i.e., PEOPLES LEASING and Singhe Hospitals go up and down completely randomly.
Pair Corralation between PEOPLES LEASING and Singhe Hospitals
Assuming the 90 days trading horizon PEOPLES LEASING is expected to generate 6.81 times less return on investment than Singhe Hospitals. But when comparing it to its historical volatility, PEOPLES LEASING FINANCE is 2.6 times less risky than Singhe Hospitals. It trades about 0.0 of its potential returns per unit of risk. Singhe Hospitals is currently generating about 0.01 of returns per unit of risk over similar time horizon. If you would invest 250.00 in Singhe Hospitals on August 30, 2024 and sell it today you would earn a total of 0.00 from holding Singhe Hospitals or generate 0.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
PEOPLES LEASING FINANCE vs. Singhe Hospitals
Performance |
| Timeline |
| PEOPLES LEASING FINANCE |
| Singhe Hospitals |
PEOPLES LEASING and Singhe Hospitals Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with PEOPLES LEASING and Singhe Hospitals
The main advantage of trading using opposite PEOPLES LEASING and Singhe Hospitals positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if PEOPLES LEASING position performs unexpectedly, Singhe Hospitals 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 Singhe Hospitals will offset losses from the drop in Singhe Hospitals' long position.| PEOPLES LEASING vs. EX PACK RUGATED CARTONS | PEOPLES LEASING vs. Carson Cumberbatch PLC | PEOPLES LEASING vs. PANASIAN POWER PLC | PEOPLES LEASING vs. Distilleries Company of |
| Singhe Hospitals vs. EX PACK RUGATED CARTONS | Singhe Hospitals vs. Carson Cumberbatch PLC | Singhe Hospitals vs. PANASIAN POWER PLC | Singhe Hospitals vs. Distilleries Company of |
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 Dashboard module to portfolio dashboard that provides centralized access to all your investments.
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