Correlation Between Praxis Home and MAS Financial
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By analyzing existing cross correlation between Praxis Home Retail and MAS Financial Services, you can compare the effects of market volatilities on Praxis Home and MAS Financial 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 Praxis Home with a short position of MAS Financial. Check out your portfolio center. Please also check ongoing floating volatility patterns of Praxis Home and MAS Financial.
Diversification Opportunities for Praxis Home and MAS Financial
0.44 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between Praxis and MAS is 0.44. Overlapping area represents the amount of risk that can be diversified away by holding Praxis Home Retail and MAS Financial Services in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on MAS Financial Services and Praxis Home 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 Praxis Home Retail are associated (or correlated) with MAS Financial. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of MAS Financial Services has no effect on the direction of Praxis Home i.e., Praxis Home and MAS Financial go up and down completely randomly.
Pair Corralation between Praxis Home and MAS Financial
Assuming the 90 days trading horizon Praxis Home Retail is expected to under-perform the MAS Financial. In addition to that, Praxis Home is 1.76 times more volatile than MAS Financial Services. It trades about -0.08 of its total potential returns per unit of risk. MAS Financial Services is currently generating about 0.0 per unit of volatility. If you would invest 28,005 in MAS Financial Services on August 29, 2024 and sell it today you would lose (105.00) from holding MAS Financial Services or give up 0.37% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Praxis Home Retail vs. MAS Financial Services
Performance |
| Timeline |
| Praxis Home Retail |
| MAS Financial Services |
Praxis Home and MAS Financial Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Praxis Home and MAS Financial
The main advantage of trading using opposite Praxis Home and MAS Financial positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Praxis Home position performs unexpectedly, MAS Financial 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 MAS Financial will offset losses from the drop in MAS Financial's long position.| Praxis Home vs. Kaushalya Infrastructure Development | Praxis Home vs. MMTC Limited | Praxis Home vs. Kingfa Science Technology | Praxis Home vs. Rico Auto Industries |
| MAS Financial vs. Reliance Industries Limited | MAS Financial vs. Life Insurance | MAS Financial vs. Indian Oil | MAS Financial vs. Oil Natural Gas |
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 FinTech Suite module to use AI to screen and filter profitable investment opportunities.
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