Correlation Between SEYLAN BANK and Singhe Hospitals
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By analyzing existing cross correlation between SEYLAN BANK PLC and Singhe Hospitals, you can compare the effects of market volatilities on SEYLAN BANK and Singhe Hospitals 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 SEYLAN BANK with a short position of Singhe Hospitals. Check out your portfolio center. Please also check ongoing floating volatility patterns of SEYLAN BANK and Singhe Hospitals.
Diversification Opportunities for SEYLAN BANK and Singhe Hospitals
0.16 | Correlation Coefficient |
Average diversification
The 3 months correlation between SEYLAN and Singhe is 0.16. Overlapping area represents the amount of risk that can be diversified away by holding SEYLAN BANK PLC and Singhe Hospitals in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Singhe Hospitals and SEYLAN BANK 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 SEYLAN BANK PLC are associated (or correlated) with Singhe Hospitals. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Singhe Hospitals has no effect on the direction of SEYLAN BANK i.e., SEYLAN BANK and Singhe Hospitals go up and down completely randomly.
Pair Corralation between SEYLAN BANK and Singhe Hospitals
Assuming the 90 days trading horizon SEYLAN BANK PLC is expected to under-perform the Singhe Hospitals. But the stock apears to be less risky and, when comparing its historical volatility, SEYLAN BANK PLC is 1.33 times less risky than Singhe Hospitals. The stock trades about -0.06 of its potential returns per unit of risk. The Singhe Hospitals is currently generating about 0.01 of returns per unit of risk over similar time horizon. If you would invest 250.00 in Singhe Hospitals on August 27, 2024 and sell it today you would earn a total of 0.00 from holding Singhe Hospitals or generate 0.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 94.74% |
| Values | Daily Returns |
SEYLAN BANK PLC vs. Singhe Hospitals
Performance |
| Timeline |
| SEYLAN BANK PLC |
| Singhe Hospitals |
SEYLAN BANK and Singhe Hospitals Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with SEYLAN BANK and Singhe Hospitals
The main advantage of trading using opposite SEYLAN BANK and Singhe Hospitals positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if SEYLAN BANK position performs unexpectedly, Singhe Hospitals 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 Singhe Hospitals will offset losses from the drop in Singhe Hospitals' long position.| SEYLAN BANK vs. Amana Bank | SEYLAN BANK vs. HATTON NATIONAL BANK | SEYLAN BANK vs. Pan Asia Banking | SEYLAN BANK vs. Ceylon Hospitals PLC |
| Singhe Hospitals vs. Merchant Bank of | Singhe Hospitals vs. CEYLINCO INSURANCE PLC | Singhe Hospitals vs. Lanka Realty Investments | Singhe Hospitals vs. Union Bank |
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 Funds Screener module to find actively-traded funds from around the world traded on over 30 global exchanges.
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