Correlation Between Syrma SGS and BF Investment
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By analyzing existing cross correlation between Syrma SGS Technology and BF Investment Limited, you can compare the effects of market volatilities on Syrma SGS 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 Syrma SGS with a short position of BF Investment. Check out your portfolio center. Please also check ongoing floating volatility patterns of Syrma SGS and BF Investment.
Diversification Opportunities for Syrma SGS and BF Investment
0.26 | Correlation Coefficient |
Modest diversification
The 3 months correlation between Syrma and BFINVEST is 0.26. Overlapping area represents the amount of risk that can be diversified away by holding Syrma SGS Technology 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 Syrma SGS 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 Syrma SGS Technology 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 Syrma SGS i.e., Syrma SGS and BF Investment go up and down completely randomly.
Pair Corralation between Syrma SGS and BF Investment
Assuming the 90 days trading horizon Syrma SGS Technology is expected to generate 1.0 times more return on investment than BF Investment. However, Syrma SGS Technology is 1.0 times less risky than BF Investment. It trades about 0.05 of its potential returns per unit of risk. BF Investment Limited is currently generating about 0.03 per unit of risk. If you would invest 27,893 in Syrma SGS Technology on October 29, 2024 and sell it today you would earn a total of 18,197 from holding Syrma SGS Technology or generate 65.24% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Syrma SGS Technology vs. BF Investment Limited
Performance |
| Timeline |
| Syrma SGS Technology |
| BF Investment Limited |
Syrma SGS and BF Investment Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Syrma SGS and BF Investment
The main advantage of trading using opposite Syrma SGS and BF Investment positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Syrma SGS 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.| Syrma SGS vs. HMT Limited | Syrma SGS vs. KIOCL Limited | Syrma SGS vs. Punjab Sind Bank | Syrma SGS vs. ITI Limited |
| BF Investment vs. Reliance Industries Limited | BF Investment vs. Life Insurance | BF Investment vs. Indian Oil | BF Investment vs. Oil Natural Gas |
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 Bond Analysis module to evaluate and analyze corporate bonds as a potential investment for your portfolios..
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