Correlation Between Samhi Hotels and POWERGRID Infrastructure
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By analyzing existing cross correlation between Samhi Hotels Limited and POWERGRID Infrastructure Investment, you can compare the effects of market volatilities on Samhi Hotels and POWERGRID Infrastructure 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 POWERGRID Infrastructure. Check out your portfolio center. Please also check ongoing floating volatility patterns of Samhi Hotels and POWERGRID Infrastructure.
Diversification Opportunities for Samhi Hotels and POWERGRID Infrastructure
-0.11 | Correlation Coefficient |
Good diversification
The 3 months correlation between Samhi and POWERGRID is -0.11. Overlapping area represents the amount of risk that can be diversified away by holding Samhi Hotels Limited and POWERGRID Infrastructure Inves in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on POWERGRID Infrastructure 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 POWERGRID Infrastructure. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of POWERGRID Infrastructure has no effect on the direction of Samhi Hotels i.e., Samhi Hotels and POWERGRID Infrastructure go up and down completely randomly.
Pair Corralation between Samhi Hotels and POWERGRID Infrastructure
Assuming the 90 days trading horizon Samhi Hotels Limited is expected to under-perform the POWERGRID Infrastructure. In addition to that, Samhi Hotels is 2.7 times more volatile than POWERGRID Infrastructure Investment. It trades about -0.18 of its total potential returns per unit of risk. POWERGRID Infrastructure Investment is currently generating about -0.22 per unit of volatility. If you would invest 8,622 in POWERGRID Infrastructure Investment on November 2, 2024 and sell it today you would lose (468.00) from holding POWERGRID Infrastructure Investment or give up 5.43% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Samhi Hotels Limited vs. POWERGRID Infrastructure Inves
Performance |
| Timeline |
| Samhi Hotels Limited |
| POWERGRID Infrastructure |
Samhi Hotels and POWERGRID Infrastructure Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Samhi Hotels and POWERGRID Infrastructure
The main advantage of trading using opposite Samhi Hotels and POWERGRID Infrastructure positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Samhi Hotels position performs unexpectedly, POWERGRID Infrastructure 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 POWERGRID Infrastructure will offset losses from the drop in POWERGRID Infrastructure's long position.| Samhi Hotels vs. KNR Constructions Limited | Samhi Hotels vs. Action Construction Equipment | Samhi Hotels vs. 21st Century Management | Samhi Hotels vs. Shaily Engineering Plastics |
| POWERGRID Infrastructure vs. JSW Steel Limited | POWERGRID Infrastructure vs. STEEL EXCHANGE INDIA | POWERGRID Infrastructure vs. Kavveri Telecom Products | POWERGRID Infrastructure vs. NMDC Steel Limited |
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 Portfolio Suggestion module to get suggestions outside of your existing asset allocation including your own model portfolios.
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