Correlation Between Sasken Technologies and India Glycols
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By analyzing existing cross correlation between Sasken Technologies Limited and India Glycols Limited, you can compare the effects of market volatilities on Sasken Technologies and India Glycols 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 Sasken Technologies with a short position of India Glycols. Check out your portfolio center. Please also check ongoing floating volatility patterns of Sasken Technologies and India Glycols.
Diversification Opportunities for Sasken Technologies and India Glycols
-0.05 | Correlation Coefficient |
Good diversification
The 3 months correlation between Sasken and India is -0.05. Overlapping area represents the amount of risk that can be diversified away by holding Sasken Technologies Limited and India Glycols Limited in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on India Glycols Limited and Sasken Technologies 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 Sasken Technologies Limited are associated (or correlated) with India Glycols. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of India Glycols Limited has no effect on the direction of Sasken Technologies i.e., Sasken Technologies and India Glycols go up and down completely randomly.
Pair Corralation between Sasken Technologies and India Glycols
Assuming the 90 days trading horizon Sasken Technologies Limited is expected to generate 1.04 times more return on investment than India Glycols. However, Sasken Technologies is 1.04 times more volatile than India Glycols Limited. It trades about 0.08 of its potential returns per unit of risk. India Glycols Limited is currently generating about 0.07 per unit of risk. If you would invest 88,697 in Sasken Technologies Limited on September 12, 2024 and sell it today you would earn a total of 123,198 from holding Sasken Technologies Limited or generate 138.9% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 99.79% |
| Values | Daily Returns |
Sasken Technologies Limited vs. India Glycols Limited
Performance |
| Timeline |
| Sasken Technologies |
| India Glycols Limited |
Sasken Technologies and India Glycols Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Sasken Technologies and India Glycols
The main advantage of trading using opposite Sasken Technologies and India Glycols positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Sasken Technologies position performs unexpectedly, India Glycols 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 India Glycols will offset losses from the drop in India Glycols' long position.| Sasken Technologies vs. Reliance Industries Limited | Sasken Technologies vs. Oil Natural Gas | Sasken Technologies vs. Indian Oil | Sasken Technologies vs. HDFC Bank Limited |
| India Glycols vs. Alkali Metals Limited | India Glycols vs. Fertilizers and Chemicals | India Glycols vs. Vishnu Chemicals Limited | India Glycols vs. Ratnamani Metals Tubes |
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 Sync Your Broker module to sync your existing holdings, watchlists, positions or portfolios from thousands of online brokerage services, banks, investment account aggregators and robo-advisors..
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