Correlation Between Singhe Hospitals and Janashakthi Insurance
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By analyzing existing cross correlation between Singhe Hospitals and Janashakthi Insurance, you can compare the effects of market volatilities on Singhe Hospitals and Janashakthi 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 Singhe Hospitals with a short position of Janashakthi Insurance. Check out your portfolio center. Please also check ongoing floating volatility patterns of Singhe Hospitals and Janashakthi Insurance.
Diversification Opportunities for Singhe Hospitals and Janashakthi Insurance
0.04 | Correlation Coefficient |
Significant diversification
The 3 months correlation between Singhe and Janashakthi is 0.04. Overlapping area represents the amount of risk that can be diversified away by holding Singhe Hospitals and Janashakthi Insurance in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Janashakthi Insurance and Singhe Hospitals 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 Singhe Hospitals are associated (or correlated) with Janashakthi Insurance. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Janashakthi Insurance has no effect on the direction of Singhe Hospitals i.e., Singhe Hospitals and Janashakthi Insurance go up and down completely randomly.
Pair Corralation between Singhe Hospitals and Janashakthi Insurance
Assuming the 90 days trading horizon Singhe Hospitals is expected to generate 0.96 times more return on investment than Janashakthi Insurance. However, Singhe Hospitals is 1.04 times less risky than Janashakthi Insurance. It trades about 0.09 of its potential returns per unit of risk. Janashakthi Insurance is currently generating about 0.07 per unit of risk. If you would invest 280.00 in Singhe Hospitals on January 30, 2025 and sell it today you would earn a total of 10.00 from holding Singhe Hospitals or generate 3.57% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Singhe Hospitals vs. Janashakthi Insurance
Performance |
| Timeline |
| Singhe Hospitals |
| Janashakthi Insurance |
Singhe Hospitals and Janashakthi Insurance Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Singhe Hospitals and Janashakthi Insurance
The main advantage of trading using opposite Singhe Hospitals and Janashakthi Insurance positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Singhe Hospitals position performs unexpectedly, Janashakthi 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 Janashakthi Insurance will offset losses from the drop in Janashakthi Insurance's long position.| Singhe Hospitals vs. HNB Finance | Singhe Hospitals vs. Prime Lands Residencies | Singhe Hospitals vs. Jat Holdings PLC | Singhe Hospitals vs. E M L |
| Janashakthi Insurance vs. HNB Finance | Janashakthi Insurance vs. Prime Lands Residencies | Janashakthi Insurance vs. Jat Holdings PLC | Janashakthi Insurance vs. E M L |
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 Insider Screener module to find insiders across different sectors to evaluate their impact on performance.
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