Correlation Between PB Fintech and Asian Hotels
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By analyzing existing cross correlation between PB Fintech Limited and Asian Hotels Limited, you can compare the effects of market volatilities on PB Fintech and Asian Hotels 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 PB Fintech with a short position of Asian Hotels. Check out your portfolio center. Please also check ongoing floating volatility patterns of PB Fintech and Asian Hotels.
Diversification Opportunities for PB Fintech and Asian Hotels
0.31 | Correlation Coefficient |
Weak diversification
The 3 months correlation between POLICYBZR and Asian is 0.31. Overlapping area represents the amount of risk that can be diversified away by holding PB Fintech Limited and Asian Hotels Limited in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Asian Hotels Limited and PB Fintech 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 PB Fintech Limited are associated (or correlated) with Asian Hotels. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Asian Hotels Limited has no effect on the direction of PB Fintech i.e., PB Fintech and Asian Hotels go up and down completely randomly.
Pair Corralation between PB Fintech and Asian Hotels
Assuming the 90 days trading horizon PB Fintech Limited is expected to under-perform the Asian Hotels. But the stock apears to be less risky and, when comparing its historical volatility, PB Fintech Limited is 1.06 times less risky than Asian Hotels. The stock trades about -0.34 of its potential returns per unit of risk. The Asian Hotels Limited is currently generating about 0.21 of returns per unit of risk over similar time horizon. If you would invest 26,369 in Asian Hotels Limited on October 25, 2024 and sell it today you would earn a total of 3,981 from holding Asian Hotels Limited or generate 15.1% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
PB Fintech Limited vs. Asian Hotels Limited
Performance |
| Timeline |
| PB Fintech Limited |
| Asian Hotels Limited |
PB Fintech and Asian Hotels Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with PB Fintech and Asian Hotels
The main advantage of trading using opposite PB Fintech and Asian Hotels positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if PB Fintech position performs unexpectedly, Asian Hotels 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 Asian Hotels will offset losses from the drop in Asian Hotels' long position.| PB Fintech vs. Tata Communications Limited | PB Fintech vs. Ortel Communications Limited | PB Fintech vs. Silly Monks Entertainment | PB Fintech vs. EMBASSY OFFICE PARKS |
| Asian Hotels vs. Sri Havisha Hospitality | Asian Hotels vs. Procter Gamble Health | Asian Hotels vs. PB Fintech Limited | Asian Hotels vs. AXISCADES Technologies 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 Positions Ratings module to determine portfolio positions ratings based on digital equity recommendations. Macroaxis instant position ratings are based on combination of fundamental analysis and risk-adjusted market performance.
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