Correlation Between Future Retail and SAL Steel
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By analyzing existing cross correlation between Future Retail Limited and SAL Steel Limited, you can compare the effects of market volatilities on Future Retail and SAL Steel 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 Future Retail with a short position of SAL Steel. Check out your portfolio center. Please also check ongoing floating volatility patterns of Future Retail and SAL Steel.
Diversification Opportunities for Future Retail and SAL Steel
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Future and SAL is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Future Retail Limited and SAL Steel Limited in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on SAL Steel Limited and Future 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 Future Retail Limited are associated (or correlated) with SAL Steel. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of SAL Steel Limited has no effect on the direction of Future Retail i.e., Future Retail and SAL Steel go up and down completely randomly.
Pair Corralation between Future Retail and SAL Steel
If you would invest 228.00 in Future Retail Limited on December 25, 2024 and sell it today you would earn a total of 0.00 from holding Future Retail Limited or generate 0.0% return on investment over 90 days.
Time Period | 3 Months [change] |
Direction | Flat |
Strength | Insignificant |
Accuracy | 100.0% |
Values | Daily Returns |
Future Retail Limited vs. SAL Steel Limited
Performance |
Timeline |
Future Retail Limited |
SAL Steel Limited |
Future Retail and SAL Steel Volatility Contrast
Predicted Return Density |
Returns |
Pair Trading with Future Retail and SAL Steel
The main advantage of trading using opposite Future Retail and SAL Steel positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Future Retail position performs unexpectedly, SAL Steel 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 SAL Steel will offset losses from the drop in SAL Steel's long position.Future Retail vs. R S Software | Future Retail vs. Lemon Tree Hotels | Future Retail vs. Chalet Hotels Limited | Future Retail vs. Selan Exploration Technology |
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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 Performance Analysis module to check effects of mean-variance optimization against your current asset allocation.
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