Correlation Between Senkadagala Finance and Lanka Realty
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By analyzing existing cross correlation between Senkadagala Finance PLC and Lanka Realty Investments, you can compare the effects of market volatilities on Senkadagala Finance and Lanka Realty 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 Senkadagala Finance with a short position of Lanka Realty. Check out your portfolio center. Please also check ongoing floating volatility patterns of Senkadagala Finance and Lanka Realty.
Diversification Opportunities for Senkadagala Finance and Lanka Realty
-0.34 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Senkadagala and Lanka is -0.34. Overlapping area represents the amount of risk that can be diversified away by holding Senkadagala Finance PLC and Lanka Realty Investments in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Lanka Realty Investments and Senkadagala Finance 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 Senkadagala Finance PLC are associated (or correlated) with Lanka Realty. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Lanka Realty Investments has no effect on the direction of Senkadagala Finance i.e., Senkadagala Finance and Lanka Realty go up and down completely randomly.
Pair Corralation between Senkadagala Finance and Lanka Realty
If you would invest 37,500 in Senkadagala Finance PLC on August 27, 2024 and sell it today you would earn a total of 0.00 from holding Senkadagala Finance PLC or generate 0.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 61.11% |
| Values | Daily Returns |
Senkadagala Finance PLC vs. Lanka Realty Investments
Performance |
| Timeline |
| Senkadagala Finance PLC |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
| Lanka Realty Investments |
Senkadagala Finance and Lanka Realty Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Senkadagala Finance and Lanka Realty
The main advantage of trading using opposite Senkadagala Finance and Lanka Realty positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Senkadagala Finance position performs unexpectedly, Lanka Realty 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 Lanka Realty will offset losses from the drop in Lanka Realty's long position.| Senkadagala Finance vs. Ceylon Cold Stores | Senkadagala Finance vs. Softlogic Life Insurance | Senkadagala Finance vs. Peoples Insurance PLC | Senkadagala Finance vs. Singhe Hospitals |
| Lanka Realty vs. PEOPLES LEASING FINANCE | Lanka Realty vs. Janashakthi Insurance | Lanka Realty vs. Ceylinco Insurance PLC | Lanka Realty vs. National Development 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 Bonds Directory module to find actively traded corporate debentures issued by US companies.
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