Correlation Between V2 Retail and Iris Clothings
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By analyzing existing cross correlation between V2 Retail Limited and Iris Clothings Limited, you can compare the effects of market volatilities on V2 Retail and Iris Clothings 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 V2 Retail with a short position of Iris Clothings. Check out your portfolio center. Please also check ongoing floating volatility patterns of V2 Retail and Iris Clothings.
Diversification Opportunities for V2 Retail and Iris Clothings
-0.79 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between V2RETAIL and Iris is -0.79. Overlapping area represents the amount of risk that can be diversified away by holding V2 Retail Limited and Iris Clothings Limited in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Iris Clothings and V2 Retail 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 V2 Retail Limited are associated (or correlated) with Iris Clothings. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Iris Clothings has no effect on the direction of V2 Retail i.e., V2 Retail and Iris Clothings go up and down completely randomly.
Pair Corralation between V2 Retail and Iris Clothings
Assuming the 90 days trading horizon V2 Retail Limited is expected to generate 1.68 times more return on investment than Iris Clothings. However, V2 Retail is 1.68 times more volatile than Iris Clothings Limited. It trades about 0.21 of its potential returns per unit of risk. Iris Clothings Limited is currently generating about -0.14 per unit of risk. If you would invest 175,300 in V2 Retail Limited on November 5, 2024 and sell it today you would earn a total of 24,490 from holding V2 Retail Limited or generate 13.97% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
V2 Retail Limited vs. Iris Clothings Limited
Performance |
| Timeline |
| V2 Retail Limited |
| Iris Clothings |
V2 Retail and Iris Clothings Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with V2 Retail and Iris Clothings
The main advantage of trading using opposite V2 Retail and Iris Clothings positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if V2 Retail position performs unexpectedly, Iris Clothings 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 Iris Clothings will offset losses from the drop in Iris Clothings' long position.| V2 Retail vs. State Bank of | V2 Retail vs. Reliance Industries Limited | V2 Retail vs. HDFC Bank Limited | V2 Retail vs. Tata Motors Limited |
| Iris Clothings vs. Edelweiss Financial Services | Iris Clothings vs. CREDITACCESS GRAMEEN LIMITED | Iris Clothings vs. HDFC Asset Management | Iris Clothings 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 Stocks Directory module to find actively traded stocks across global markets.
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