Correlation Between SBI Life and Osia Hyper
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By analyzing existing cross correlation between SBI Life Insurance and Osia Hyper Retail, you can compare the effects of market volatilities on SBI Life and Osia Hyper 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 SBI Life with a short position of Osia Hyper. Check out your portfolio center. Please also check ongoing floating volatility patterns of SBI Life and Osia Hyper.
Diversification Opportunities for SBI Life and Osia Hyper
0.84 | Correlation Coefficient |
Very poor diversification
The 3 months correlation between SBI and Osia is 0.84. Overlapping area represents the amount of risk that can be diversified away by holding SBI Life Insurance and Osia Hyper Retail in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Osia Hyper Retail and SBI Life 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 SBI Life Insurance are associated (or correlated) with Osia Hyper. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Osia Hyper Retail has no effect on the direction of SBI Life i.e., SBI Life and Osia Hyper go up and down completely randomly.
Pair Corralation between SBI Life and Osia Hyper
Assuming the 90 days trading horizon SBI Life Insurance is expected to generate 0.62 times more return on investment than Osia Hyper. However, SBI Life Insurance is 1.6 times less risky than Osia Hyper. It trades about 0.01 of its potential returns per unit of risk. Osia Hyper Retail is currently generating about -0.31 per unit of risk. If you would invest 146,185 in SBI Life Insurance on October 11, 2024 and sell it today you would earn a total of 130.00 from holding SBI Life Insurance or generate 0.09% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Strong |
| Accuracy | 95.24% |
| Values | Daily Returns |
SBI Life Insurance vs. Osia Hyper Retail
Performance |
| Timeline |
| SBI Life Insurance |
| Osia Hyper Retail |
SBI Life and Osia Hyper Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with SBI Life and Osia Hyper
The main advantage of trading using opposite SBI Life and Osia Hyper positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if SBI Life position performs unexpectedly, Osia Hyper 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 Osia Hyper will offset losses from the drop in Osia Hyper's long position.| SBI Life vs. NRB Industrial Bearings | SBI Life vs. 21st Century Management | SBI Life vs. ZF Commercial Vehicle | SBI Life vs. Popular Vehicles and |
| Osia Hyper vs. Reliance Industries Limited | Osia Hyper vs. HDFC Bank Limited | Osia Hyper vs. Kingfa Science Technology | Osia Hyper vs. Rico Auto Industries |
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 Equity Forecasting module to use basic forecasting models to generate price predictions and determine price momentum.
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