Correlation Between Senkadagala Finance and COMMERCIAL BANK
Specify exactly 2 symbols:
By analyzing existing cross correlation between Senkadagala Finance PLC and COMMERCIAL BANK OF, you can compare the effects of market volatilities on Senkadagala Finance and COMMERCIAL BANK 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 COMMERCIAL BANK. Check out your portfolio center. Please also check ongoing floating volatility patterns of Senkadagala Finance and COMMERCIAL BANK.
Diversification Opportunities for Senkadagala Finance and COMMERCIAL BANK
-0.59 | Correlation Coefficient |
Excellent diversification
The 3 months correlation between Senkadagala and COMMERCIAL is -0.59. Overlapping area represents the amount of risk that can be diversified away by holding Senkadagala Finance PLC and COMMERCIAL BANK OF in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on COMMERCIAL BANK 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 COMMERCIAL BANK. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of COMMERCIAL BANK has no effect on the direction of Senkadagala Finance i.e., Senkadagala Finance and COMMERCIAL BANK go up and down completely randomly.
Pair Corralation between Senkadagala Finance and COMMERCIAL BANK
If you would invest 9,200 in COMMERCIAL BANK OF on September 2, 2024 and sell it today you would earn a total of 290.00 from holding COMMERCIAL BANK OF or generate 3.15% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 50.0% |
| Values | Daily Returns |
Senkadagala Finance PLC vs. COMMERCIAL BANK OF
Performance |
| Timeline |
| Senkadagala Finance PLC |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Good
| COMMERCIAL BANK |
Senkadagala Finance and COMMERCIAL BANK Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Senkadagala Finance and COMMERCIAL BANK
The main advantage of trading using opposite Senkadagala Finance and COMMERCIAL BANK positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Senkadagala Finance position performs unexpectedly, COMMERCIAL BANK 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 COMMERCIAL BANK will offset losses from the drop in COMMERCIAL BANK's long position.| Senkadagala Finance vs. Prime Lands Residencies | Senkadagala Finance vs. Lanka Credit and | Senkadagala Finance vs. VIDULLANKA PLC | Senkadagala Finance vs. EX PACK RUGATED CARTONS |
| COMMERCIAL BANK vs. Convenience Foods PLC | COMMERCIAL BANK vs. Arpico Insurance | COMMERCIAL BANK vs. Lanka Realty Investments | COMMERCIAL BANK vs. Ceylon Hospitals PLC |
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 Technical Analysis module to check basic technical indicators and analysis based on most latest market data.
Other Complementary Tools
| Efficient Frontier Plot and analyze your portfolio and positions against risk-return landscape of the market. | |
| CEOs Directory Screen CEOs from public companies around the world | |
| Global Correlations Find global opportunities by holding instruments from different markets | |
| Stock Screener Find equities using a custom stock filter or screen asymmetry in trading patterns, price, volume, or investment outlook. | |
| Portfolio Suggestion Get suggestions outside of your existing asset allocation including your own model portfolios |