Correlation Between Yatra Online and Asian Hotels
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By analyzing existing cross correlation between Yatra Online Limited and Asian Hotels Limited, you can compare the effects of market volatilities on Yatra Online and Asian Hotels 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 Yatra Online with a short position of Asian Hotels. Check out your portfolio center. Please also check ongoing floating volatility patterns of Yatra Online and Asian Hotels.
Diversification Opportunities for Yatra Online and Asian Hotels
-0.33 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Yatra and Asian is -0.33. Overlapping area represents the amount of risk that can be diversified away by holding Yatra Online Limited and Asian Hotels Limited in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Asian Hotels Limited and Yatra Online 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 Yatra Online Limited are associated (or correlated) with Asian Hotels. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Asian Hotels Limited has no effect on the direction of Yatra Online i.e., Yatra Online and Asian Hotels go up and down completely randomly.
Pair Corralation between Yatra Online and Asian Hotels
Assuming the 90 days trading horizon Yatra Online Limited is expected to under-perform the Asian Hotels. But the stock apears to be less risky and, when comparing its historical volatility, Yatra Online Limited is 1.12 times less risky than Asian Hotels. The stock trades about -0.23 of its potential returns per unit of risk. The Asian Hotels Limited is currently generating about 0.06 of returns per unit of risk over similar time horizon. If you would invest 19,551 in Asian Hotels Limited on September 1, 2024 and sell it today you would earn a total of 453.00 from holding Asian Hotels Limited or generate 2.32% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Yatra Online Limited vs. Asian Hotels Limited
Performance |
| Timeline |
| Yatra Online Limited |
| Asian Hotels Limited |
Yatra Online and Asian Hotels Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Yatra Online and Asian Hotels
The main advantage of trading using opposite Yatra Online and Asian Hotels positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Yatra Online position performs unexpectedly, Asian Hotels 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 Asian Hotels will offset losses from the drop in Asian Hotels' long position.| Yatra Online vs. Privi Speciality Chemicals | Yatra Online vs. Fineotex Chemical Limited | Yatra Online vs. Dharani SugarsChemicals Limited | Yatra Online vs. Shree Pushkar Chemicals |
| Asian Hotels vs. Chambal Fertilizers Chemicals | Asian Hotels vs. Indo Borax Chemicals | Asian Hotels vs. V Mart Retail Limited | Asian Hotels vs. Krebs Biochemicals and |
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 Idea Analyzer module to analyze all characteristics, volatility and risk-adjusted return of Macroaxis ideas.
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