Correlation Between Sasken Technologies and Procter Gamble
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By analyzing existing cross correlation between Sasken Technologies Limited and Procter Gamble Health, you can compare the effects of market volatilities on Sasken Technologies and Procter Gamble 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 Procter Gamble. Check out your portfolio center. Please also check ongoing floating volatility patterns of Sasken Technologies and Procter Gamble.
Diversification Opportunities for Sasken Technologies and Procter Gamble
0.28 | Correlation Coefficient |
Modest diversification
The 3 months correlation between Sasken and Procter is 0.28. Overlapping area represents the amount of risk that can be diversified away by holding Sasken Technologies Limited and Procter Gamble Health in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Procter Gamble Health 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 Procter Gamble. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Procter Gamble Health has no effect on the direction of Sasken Technologies i.e., Sasken Technologies and Procter Gamble go up and down completely randomly.
Pair Corralation between Sasken Technologies and Procter Gamble
Assuming the 90 days trading horizon Sasken Technologies Limited is expected to generate 1.22 times more return on investment than Procter Gamble. However, Sasken Technologies is 1.22 times more volatile than Procter Gamble Health. It trades about 0.12 of its potential returns per unit of risk. Procter Gamble Health is currently generating about -0.33 per unit of risk. If you would invest 206,100 in Sasken Technologies Limited on October 12, 2024 and sell it today you would earn a total of 8,450 from holding Sasken Technologies Limited or generate 4.1% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Sasken Technologies Limited vs. Procter Gamble Health
Performance |
| Timeline |
| Sasken Technologies |
| Procter Gamble Health |
Sasken Technologies and Procter Gamble Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Sasken Technologies and Procter Gamble
The main advantage of trading using opposite Sasken Technologies and Procter Gamble positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Sasken Technologies position performs unexpectedly, Procter Gamble 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 Procter Gamble will offset losses from the drop in Procter Gamble's long position.| Sasken Technologies vs. Edelweiss Financial Services | Sasken Technologies vs. DCM Financial Services | Sasken Technologies vs. The Federal Bank | Sasken Technologies vs. Home First Finance |
| Procter Gamble vs. Hi Tech Pipes Limited | Procter Gamble vs. Niraj Ispat Industries | Procter Gamble vs. Tamilnadu Telecommunication Limited | Procter Gamble vs. Ortel Communications 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 Commodity Channel module to use Commodity Channel Index to analyze current equity momentum.
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