Correlation Between Investment Trust and Jayant Agro
Specify exactly 2 symbols:
By analyzing existing cross correlation between The Investment Trust and Jayant Agro Organics, you can compare the effects of market volatilities on Investment Trust and Jayant Agro 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 Investment Trust with a short position of Jayant Agro. Check out your portfolio center. Please also check ongoing floating volatility patterns of Investment Trust and Jayant Agro.
Diversification Opportunities for Investment Trust and Jayant Agro
0.72 | Correlation Coefficient |
Poor diversification
The 3 months correlation between Investment and Jayant is 0.72. Overlapping area represents the amount of risk that can be diversified away by holding The Investment Trust and Jayant Agro Organics in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Jayant Agro Organics and Investment Trust 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 The Investment Trust are associated (or correlated) with Jayant Agro. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Jayant Agro Organics has no effect on the direction of Investment Trust i.e., Investment Trust and Jayant Agro go up and down completely randomly.
Pair Corralation between Investment Trust and Jayant Agro
Assuming the 90 days trading horizon The Investment Trust is expected to generate 1.02 times more return on investment than Jayant Agro. However, Investment Trust is 1.02 times more volatile than Jayant Agro Organics. It trades about -0.01 of its potential returns per unit of risk. Jayant Agro Organics is currently generating about -0.05 per unit of risk. If you would invest 18,276 in The Investment Trust on November 2, 2024 and sell it today you would lose (950.00) from holding The Investment Trust or give up 5.2% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Significant |
| Accuracy | 100.0% |
| Values | Daily Returns |
The Investment Trust vs. Jayant Agro Organics
Performance |
| Timeline |
| Investment Trust |
| Jayant Agro Organics |
Investment Trust and Jayant Agro Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Investment Trust and Jayant Agro
The main advantage of trading using opposite Investment Trust and Jayant Agro positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Investment Trust position performs unexpectedly, Jayant Agro 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 Jayant Agro will offset losses from the drop in Jayant Agro's long position.| Investment Trust vs. Touchwood Entertainment Limited | Investment Trust vs. HT Media Limited | Investment Trust vs. Eros International Media | Investment Trust vs. Varun Beverages Limited |
| Jayant Agro vs. V Mart Retail Limited | Jayant Agro vs. Silgo Retail Limited | Jayant Agro vs. Akme Fintrade India | Jayant Agro vs. Kotak Mahindra Bank |
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 Global Correlations module to find global opportunities by holding instruments from different markets.
Other Complementary Tools
| Theme Ratings Determine theme ratings based on digital equity recommendations. Macroaxis theme ratings are based on combination of fundamental analysis and risk-adjusted market performance | |
| Performance Analysis Check effects of mean-variance optimization against your current asset allocation | |
| Bonds Directory Find actively traded corporate debentures issued by US companies | |
| Money Flow Index Determine momentum by analyzing Money Flow Index and other technical indicators | |
| Portfolio Dashboard Portfolio dashboard that provides centralized access to all your investments |