Correlation Between Samhi Hotels and GPT Healthcare
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By analyzing existing cross correlation between Samhi Hotels Limited and GPT Healthcare, you can compare the effects of market volatilities on Samhi Hotels and GPT Healthcare 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 GPT Healthcare. Check out your portfolio center. Please also check ongoing floating volatility patterns of Samhi Hotels and GPT Healthcare.
Diversification Opportunities for Samhi Hotels and GPT Healthcare
0.78 | Correlation Coefficient |
Poor diversification
The 3 months correlation between Samhi and GPT is 0.78. Overlapping area represents the amount of risk that can be diversified away by holding Samhi Hotels Limited and GPT Healthcare in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on GPT Healthcare 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 GPT Healthcare. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of GPT Healthcare has no effect on the direction of Samhi Hotels i.e., Samhi Hotels and GPT Healthcare go up and down completely randomly.
Pair Corralation between Samhi Hotels and GPT Healthcare
Assuming the 90 days trading horizon Samhi Hotels Limited is expected to generate 1.02 times more return on investment than GPT Healthcare. However, Samhi Hotels is 1.02 times more volatile than GPT Healthcare. It trades about -0.01 of its potential returns per unit of risk. GPT Healthcare is currently generating about -0.01 per unit of risk. If you would invest 18,252 in Samhi Hotels Limited on November 4, 2024 and sell it today you would lose (1,150) from holding Samhi Hotels Limited or give up 6.3% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Significant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Samhi Hotels Limited vs. GPT Healthcare
Performance |
| Timeline |
| Samhi Hotels Limited |
| GPT Healthcare |
Samhi Hotels and GPT Healthcare Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Samhi Hotels and GPT Healthcare
The main advantage of trading using opposite Samhi Hotels and GPT Healthcare positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Samhi Hotels position performs unexpectedly, GPT Healthcare 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 GPT Healthcare will offset losses from the drop in GPT Healthcare's long position.| Samhi Hotels vs. LT Technology Services | Samhi Hotels vs. Centum Electronics Limited | Samhi Hotels vs. R S Software | Samhi Hotels vs. FCS Software Solutions |
| GPT Healthcare vs. SIL Investments Limited | GPT Healthcare vs. Cantabil Retail India | GPT Healthcare vs. Akme Fintrade India | GPT Healthcare vs. Pilani Investment and |
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 USA ETFs module to find actively traded Exchange Traded Funds (ETF) in USA.
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