Correlation Between SIS and Sasken Technologies
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By analyzing existing cross correlation between SIS LIMITED and Sasken Technologies Limited, you can compare the effects of market volatilities on SIS and Sasken Technologies 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 SIS with a short position of Sasken Technologies. Check out your portfolio center. Please also check ongoing floating volatility patterns of SIS and Sasken Technologies.
Diversification Opportunities for SIS and Sasken Technologies
-0.84 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between SIS and Sasken is -0.84. Overlapping area represents the amount of risk that can be diversified away by holding SIS LIMITED and Sasken Technologies Limited in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Sasken Technologies and SIS 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 SIS LIMITED are associated (or correlated) with Sasken Technologies. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Sasken Technologies has no effect on the direction of SIS i.e., SIS and Sasken Technologies go up and down completely randomly.
Pair Corralation between SIS and Sasken Technologies
Assuming the 90 days trading horizon SIS LIMITED is expected to under-perform the Sasken Technologies. But the stock apears to be less risky and, when comparing its historical volatility, SIS LIMITED is 1.67 times less risky than Sasken Technologies. The stock trades about -0.04 of its potential returns per unit of risk. The Sasken Technologies Limited is currently generating about 0.1 of returns per unit of risk over similar time horizon. If you would invest 115,089 in Sasken Technologies Limited on September 2, 2024 and sell it today you would earn a total of 103,881 from holding Sasken Technologies Limited or generate 90.26% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Significant |
| Accuracy | 99.18% |
| Values | Daily Returns |
SIS LIMITED vs. Sasken Technologies Limited
Performance |
| Timeline |
| SIS LIMITED |
| Sasken Technologies |
SIS and Sasken Technologies Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with SIS and Sasken Technologies
The main advantage of trading using opposite SIS and Sasken Technologies positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if SIS position performs unexpectedly, Sasken Technologies 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 Sasken Technologies will offset losses from the drop in Sasken Technologies' long position.| SIS vs. One 97 Communications | SIS vs. Rainbow Childrens Medicare | SIS vs. Uniinfo Telecom Services | SIS vs. Speciality Restaurants Limited |
| Sasken Technologies vs. Network18 Media Investments | Sasken Technologies vs. Touchwood Entertainment Limited | Sasken Technologies vs. SIL Investments Limited | Sasken Technologies vs. Nalwa Sons Investments |
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 Headlines Timeline module to stay connected to all market stories and filter out noise. Drill down to analyze hype elasticity.
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