Correlation Between PB Fintech and Man Infraconstructio
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By analyzing existing cross correlation between PB Fintech Limited and Man Infraconstruction Limited, you can compare the effects of market volatilities on PB Fintech and Man Infraconstructio 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 Man Infraconstructio. Check out your portfolio center. Please also check ongoing floating volatility patterns of PB Fintech and Man Infraconstructio.
Diversification Opportunities for PB Fintech and Man Infraconstructio
0.45 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between POLICYBZR and Man is 0.45. Overlapping area represents the amount of risk that can be diversified away by holding PB Fintech Limited and Man Infraconstruction Limited in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Man Infraconstruction 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 Man Infraconstructio. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Man Infraconstruction has no effect on the direction of PB Fintech i.e., PB Fintech and Man Infraconstructio go up and down completely randomly.
Pair Corralation between PB Fintech and Man Infraconstructio
Assuming the 90 days trading horizon PB Fintech is expected to generate 1.71 times less return on investment than Man Infraconstructio. But when comparing it to its historical volatility, PB Fintech Limited is 1.48 times less risky than Man Infraconstructio. It trades about 0.22 of its potential returns per unit of risk. Man Infraconstruction Limited is currently generating about 0.25 of returns per unit of risk over similar time horizon. If you would invest 19,556 in Man Infraconstruction Limited on September 1, 2024 and sell it today you would earn a total of 3,864 from holding Man Infraconstruction Limited or generate 19.76% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
PB Fintech Limited vs. Man Infraconstruction Limited
Performance |
| Timeline |
| PB Fintech Limited |
| Man Infraconstruction |
PB Fintech and Man Infraconstructio Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with PB Fintech and Man Infraconstructio
The main advantage of trading using opposite PB Fintech and Man Infraconstructio positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if PB Fintech position performs unexpectedly, Man Infraconstructio 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 Man Infraconstructio will offset losses from the drop in Man Infraconstructio's long position.| PB Fintech vs. Reliance Industries Limited | PB Fintech vs. Life Insurance | PB Fintech vs. Indian Oil | PB Fintech vs. Oil Natural Gas |
| Man Infraconstructio vs. The Orissa Minerals | Man Infraconstructio vs. Malu Paper Mills | Man Infraconstructio vs. Kingfa Science Technology | Man Infraconstructio vs. Rico Auto Industries |
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 CEOs Directory module to screen CEOs from public companies around the world.
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