Correlation Between Sical Logistics and Life Insurance
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By analyzing existing cross correlation between Sical Logistics Limited and Life Insurance, you can compare the effects of market volatilities on Sical Logistics and Life Insurance 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 Sical Logistics with a short position of Life Insurance. Check out your portfolio center. Please also check ongoing floating volatility patterns of Sical Logistics and Life Insurance.
Diversification Opportunities for Sical Logistics and Life Insurance
0.21 | Correlation Coefficient |
Modest diversification
The 3 months correlation between Sical and Life is 0.21. Overlapping area represents the amount of risk that can be diversified away by holding Sical Logistics Limited and Life Insurance in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Life Insurance and Sical Logistics 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 Sical Logistics Limited are associated (or correlated) with Life Insurance. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Life Insurance has no effect on the direction of Sical Logistics i.e., Sical Logistics and Life Insurance go up and down completely randomly.
Pair Corralation between Sical Logistics and Life Insurance
Assuming the 90 days trading horizon Sical Logistics Limited is expected to under-perform the Life Insurance. In addition to that, Sical Logistics is 1.54 times more volatile than Life Insurance. It trades about -0.37 of its total potential returns per unit of risk. Life Insurance is currently generating about -0.14 per unit of volatility. If you would invest 87,640 in Life Insurance on November 8, 2024 and sell it today you would lose (4,760) from holding Life Insurance or give up 5.43% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 95.65% |
| Values | Daily Returns |
Sical Logistics Limited vs. Life Insurance
Performance |
| Timeline |
| Sical Logistics |
| Life Insurance |
Sical Logistics and Life Insurance Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Sical Logistics and Life Insurance
The main advantage of trading using opposite Sical Logistics and Life Insurance positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Sical Logistics position performs unexpectedly, Life Insurance 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 Life Insurance will offset losses from the drop in Life Insurance's long position.| Sical Logistics vs. Nucleus Software Exports | Sical Logistics vs. Oriental Hotels Limited | Sical Logistics vs. Sonata Software Limited | Sical Logistics vs. Blue Coast Hotels |
| Life Insurance vs. Apex Frozen Foods | Life Insurance vs. Global Health Limited | Life Insurance vs. GPT Healthcare | Life Insurance vs. Blue Jet Healthcare |
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 Investing Opportunities module to build portfolios using our predefined set of ideas and optimize them against your investing preferences.
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