Correlation Between Kamat Hotels and Akme Fintrade
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By analyzing existing cross correlation between Kamat Hotels Limited and Akme Fintrade India, you can compare the effects of market volatilities on Kamat Hotels and Akme Fintrade 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 Kamat Hotels with a short position of Akme Fintrade. Check out your portfolio center. Please also check ongoing floating volatility patterns of Kamat Hotels and Akme Fintrade.
Diversification Opportunities for Kamat Hotels and Akme Fintrade
0.29 | Correlation Coefficient |
Modest diversification
The 3 months correlation between Kamat and Akme is 0.29. Overlapping area represents the amount of risk that can be diversified away by holding Kamat Hotels Limited and Akme Fintrade India in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Akme Fintrade India and Kamat Hotels 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 Kamat Hotels Limited are associated (or correlated) with Akme Fintrade. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Akme Fintrade India has no effect on the direction of Kamat Hotels i.e., Kamat Hotels and Akme Fintrade go up and down completely randomly.
Pair Corralation between Kamat Hotels and Akme Fintrade
Assuming the 90 days trading horizon Kamat Hotels Limited is expected to generate 0.79 times more return on investment than Akme Fintrade. However, Kamat Hotels Limited is 1.26 times less risky than Akme Fintrade. It trades about 0.05 of its potential returns per unit of risk. Akme Fintrade India is currently generating about -0.06 per unit of risk. If you would invest 12,565 in Kamat Hotels Limited on October 25, 2024 and sell it today you would earn a total of 8,933 from holding Kamat Hotels Limited or generate 71.09% return on investment over 90 days.
Time Period | 3 Months [change] |
Direction | Moves Together |
Strength | Very Weak |
Accuracy | 30.12% |
Values | Daily Returns |
Kamat Hotels Limited vs. Akme Fintrade India
Performance |
Timeline |
Kamat Hotels Limited |
Akme Fintrade India |
Kamat Hotels and Akme Fintrade Volatility Contrast
Predicted Return Density |
Returns |
Pair Trading with Kamat Hotels and Akme Fintrade
The main advantage of trading using opposite Kamat Hotels and Akme Fintrade positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Kamat Hotels position performs unexpectedly, Akme Fintrade 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 Akme Fintrade will offset losses from the drop in Akme Fintrade's long position.Kamat Hotels vs. Reliance Industries Limited | Kamat Hotels vs. HDFC Bank Limited | Kamat Hotels vs. Bharti Airtel Limited | Kamat Hotels vs. State Bank of |
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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 Premium Stories module to follow Macroaxis premium stories from verified contributors across different equity types, categories and coverage scope.
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