Correlation Between Samhi Hotels and AXISCADES Technologies
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By analyzing existing cross correlation between Samhi Hotels Limited and AXISCADES Technologies Limited, you can compare the effects of market volatilities on Samhi Hotels and AXISCADES Technologies 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 Samhi Hotels with a short position of AXISCADES Technologies. Check out your portfolio center. Please also check ongoing floating volatility patterns of Samhi Hotels and AXISCADES Technologies.
Diversification Opportunities for Samhi Hotels and AXISCADES Technologies
0.54 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between Samhi and AXISCADES is 0.54. Overlapping area represents the amount of risk that can be diversified away by holding Samhi Hotels Limited and AXISCADES Technologies Limited in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on AXISCADES Technologies and Samhi Hotels 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 Samhi Hotels Limited are associated (or correlated) with AXISCADES Technologies. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of AXISCADES Technologies has no effect on the direction of Samhi Hotels i.e., Samhi Hotels and AXISCADES Technologies go up and down completely randomly.
Pair Corralation between Samhi Hotels and AXISCADES Technologies
Assuming the 90 days trading horizon Samhi Hotels is expected to generate 1.99 times less return on investment than AXISCADES Technologies. But when comparing it to its historical volatility, Samhi Hotels Limited is 1.38 times less risky than AXISCADES Technologies. It trades about 0.05 of its potential returns per unit of risk. AXISCADES Technologies Limited is currently generating about 0.07 of returns per unit of risk over similar time horizon. If you would invest 32,615 in AXISCADES Technologies Limited on October 14, 2024 and sell it today you would earn a total of 45,040 from holding AXISCADES Technologies Limited or generate 138.1% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 65.85% |
| Values | Daily Returns |
Samhi Hotels Limited vs. AXISCADES Technologies Limited
Performance |
| Timeline |
| Samhi Hotels Limited |
| AXISCADES Technologies |
Samhi Hotels and AXISCADES Technologies Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Samhi Hotels and AXISCADES Technologies
The main advantage of trading using opposite Samhi Hotels and AXISCADES Technologies positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Samhi Hotels position performs unexpectedly, AXISCADES Technologies 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 AXISCADES Technologies will offset losses from the drop in AXISCADES Technologies' long position.| Samhi Hotels vs. Sonata Software Limited | Samhi Hotels vs. Le Travenues Technology | Samhi Hotels vs. Newgen Software Technologies | Samhi Hotels vs. Kaynes Technology India |
| AXISCADES Technologies vs. General Insurance | AXISCADES Technologies vs. Samhi Hotels Limited | AXISCADES Technologies vs. Blue Coast Hotels | AXISCADES Technologies vs. SBI Life Insurance |
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 Technical Analysis module to check basic technical indicators and analysis based on most latest market data.
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