Correlation Between Silgo Retail and BF Investment
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By analyzing existing cross correlation between Silgo Retail Limited and BF Investment Limited, you can compare the effects of market volatilities on Silgo Retail and BF Investment 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 Silgo Retail with a short position of BF Investment. Check out your portfolio center. Please also check ongoing floating volatility patterns of Silgo Retail and BF Investment.
Diversification Opportunities for Silgo Retail and BF Investment
0.57 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between Silgo and BFINVEST is 0.57. Overlapping area represents the amount of risk that can be diversified away by holding Silgo Retail Limited and BF Investment Limited in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on BF Investment Limited and Silgo Retail 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 Silgo Retail Limited are associated (or correlated) with BF Investment. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of BF Investment Limited has no effect on the direction of Silgo Retail i.e., Silgo Retail and BF Investment go up and down completely randomly.
Pair Corralation between Silgo Retail and BF Investment
Assuming the 90 days trading horizon Silgo Retail Limited is expected to generate 1.48 times more return on investment than BF Investment. However, Silgo Retail is 1.48 times more volatile than BF Investment Limited. It trades about 0.01 of its potential returns per unit of risk. BF Investment Limited is currently generating about -0.02 per unit of risk. If you would invest 3,501 in Silgo Retail Limited on October 26, 2024 and sell it today you would lose (220.00) from holding Silgo Retail Limited or give up 6.28% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Silgo Retail Limited vs. BF Investment Limited
Performance |
| Timeline |
| Silgo Retail Limited |
| BF Investment Limited |
Silgo Retail and BF Investment Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Silgo Retail and BF Investment
The main advantage of trading using opposite Silgo Retail and BF Investment positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Silgo Retail position performs unexpectedly, BF Investment 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 BF Investment will offset losses from the drop in BF Investment's long position.| Silgo Retail vs. Kingfa Science Technology | Silgo Retail vs. Rico Auto Industries | Silgo Retail vs. COSMO FIRST LIMITED | Silgo Retail vs. Tribhovandas Bhimji Zaveri |
| BF Investment vs. Hi Tech Pipes Limited | BF Investment vs. Spencers Retail Limited | BF Investment vs. Silgo Retail Limited | BF Investment vs. Univa Foods Limited |
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 Options Analysis module to analyze and evaluate options and option chains as a potential hedge for your portfolios.
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