Correlation Between Sasken Technologies and PTC India
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By analyzing existing cross correlation between Sasken Technologies Limited and PTC India Limited, you can compare the effects of market volatilities on Sasken Technologies and PTC India 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 PTC India. Check out your portfolio center. Please also check ongoing floating volatility patterns of Sasken Technologies and PTC India.
Diversification Opportunities for Sasken Technologies and PTC India
-0.26 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Sasken and PTC is -0.26. Overlapping area represents the amount of risk that can be diversified away by holding Sasken Technologies Limited and PTC India Limited in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on PTC India 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 PTC India. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of PTC India Limited has no effect on the direction of Sasken Technologies i.e., Sasken Technologies and PTC India go up and down completely randomly.
Pair Corralation between Sasken Technologies and PTC India
Assuming the 90 days trading horizon Sasken Technologies Limited is expected to generate 1.25 times more return on investment than PTC India. However, Sasken Technologies is 1.25 times more volatile than PTC India Limited. It trades about 0.07 of its potential returns per unit of risk. PTC India Limited is currently generating about -0.09 per unit of risk. If you would invest 161,107 in Sasken Technologies Limited on November 3, 2024 and sell it today you would earn a total of 38,908 from holding Sasken Technologies Limited or generate 24.15% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Sasken Technologies Limited vs. PTC India Limited
Performance |
| Timeline |
| Sasken Technologies |
| PTC India Limited |
Sasken Technologies and PTC India Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Sasken Technologies and PTC India
The main advantage of trading using opposite Sasken Technologies and PTC India positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Sasken Technologies position performs unexpectedly, PTC India 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 PTC India will offset losses from the drop in PTC India's long position.| Sasken Technologies vs. Visa Steel Limited | Sasken Technologies vs. Megastar Foods Limited | Sasken Technologies vs. Mahamaya Steel Industries | Sasken Technologies vs. Sapphire Foods India |
| PTC India vs. GPT Healthcare | PTC India vs. Paramount Communications Limited | PTC India vs. Global Health Limited | PTC India vs. Electronics Mart India |
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 Dashboard module to portfolio dashboard that provides centralized access to all your investments.
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