Correlation Between SINCLAIRS HOTELS and State Bank
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By analyzing existing cross correlation between SINCLAIRS HOTELS ORD and State Bank of, you can compare the effects of market volatilities on SINCLAIRS HOTELS and State 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 SINCLAIRS HOTELS with a short position of State Bank. Check out your portfolio center. Please also check ongoing floating volatility patterns of SINCLAIRS HOTELS and State Bank.
Diversification Opportunities for SINCLAIRS HOTELS and State Bank
-0.02 | Correlation Coefficient |
Good diversification
The 3 months correlation between SINCLAIRS and State is -0.02. Overlapping area represents the amount of risk that can be diversified away by holding SINCLAIRS HOTELS ORD and State Bank of in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on State Bank and SINCLAIRS HOTELS 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 SINCLAIRS HOTELS ORD are associated (or correlated) with State Bank. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of State Bank has no effect on the direction of SINCLAIRS HOTELS i.e., SINCLAIRS HOTELS and State Bank go up and down completely randomly.
Pair Corralation between SINCLAIRS HOTELS and State Bank
Assuming the 90 days trading horizon SINCLAIRS HOTELS ORD is expected to generate 2.06 times more return on investment than State Bank. However, SINCLAIRS HOTELS is 2.06 times more volatile than State Bank of. It trades about -0.01 of its potential returns per unit of risk. State Bank of is currently generating about -0.02 per unit of risk. If you would invest 10,111 in SINCLAIRS HOTELS ORD on November 3, 2024 and sell it today you would lose (738.00) from holding SINCLAIRS HOTELS ORD or give up 7.3% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
SINCLAIRS HOTELS ORD vs. State Bank of
Performance |
| Timeline |
| SINCLAIRS HOTELS ORD |
| State Bank |
SINCLAIRS HOTELS and State Bank Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with SINCLAIRS HOTELS and State Bank
The main advantage of trading using opposite SINCLAIRS HOTELS and State Bank positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if SINCLAIRS HOTELS position performs unexpectedly, State 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 State Bank will offset losses from the drop in State Bank's long position.| SINCLAIRS HOTELS vs. Sunflag Iron And | SINCLAIRS HOTELS vs. Vardhman Special Steels | SINCLAIRS HOTELS vs. Jindal Steel Power | SINCLAIRS HOTELS vs. Kalyani Steels Limited |
| State Bank vs. Styrenix Performance Materials | State Bank vs. JB Chemicals Pharmaceuticals | State Bank vs. Rashtriya Chemicals and | State Bank vs. PB Fintech 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 Portfolio Center module to all portfolio management and optimization tools to improve performance of your portfolios.
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