Correlation Between PB Fintech and Selan Exploration
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By analyzing existing cross correlation between PB Fintech Limited and Selan Exploration Technology, you can compare the effects of market volatilities on PB Fintech and Selan Exploration 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 Selan Exploration. Check out your portfolio center. Please also check ongoing floating volatility patterns of PB Fintech and Selan Exploration.
Diversification Opportunities for PB Fintech and Selan Exploration
0.25 | Correlation Coefficient |
Modest diversification
The 3 months correlation between POLICYBZR and Selan is 0.25. Overlapping area represents the amount of risk that can be diversified away by holding PB Fintech Limited and Selan Exploration Technology in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Selan Exploration 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 Selan Exploration. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Selan Exploration has no effect on the direction of PB Fintech i.e., PB Fintech and Selan Exploration go up and down completely randomly.
Pair Corralation between PB Fintech and Selan Exploration
Assuming the 90 days trading horizon PB Fintech Limited is expected to generate 0.76 times more return on investment than Selan Exploration. However, PB Fintech Limited is 1.32 times less risky than Selan Exploration. It trades about 0.22 of its potential returns per unit of risk. Selan Exploration Technology is currently generating about -0.01 per unit of risk. If you would invest 170,115 in PB Fintech Limited on September 2, 2024 and sell it today you would earn a total of 19,275 from holding PB Fintech Limited or generate 11.33% 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. Selan Exploration Technology
Performance |
| Timeline |
| PB Fintech Limited |
| Selan Exploration |
PB Fintech and Selan Exploration Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with PB Fintech and Selan Exploration
The main advantage of trading using opposite PB Fintech and Selan Exploration positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if PB Fintech position performs unexpectedly, Selan Exploration 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 Selan Exploration will offset losses from the drop in Selan Exploration's long position.| PB Fintech vs. Krebs Biochemicals and | PB Fintech vs. Hindcon Chemicals Limited | PB Fintech vs. Reliance Home Finance | PB Fintech vs. Embassy Office Parks |
| Selan Exploration vs. Digjam Limited | Selan Exploration vs. Gujarat Raffia Industries | Selan Exploration vs. Kingfa Science Technology | Selan Exploration 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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