Correlation Between Samhi Hotels and Aster DM
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By analyzing existing cross correlation between Samhi Hotels Limited and Aster DM Healthcare, you can compare the effects of market volatilities on Samhi Hotels and Aster DM 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 Samhi Hotels with a short position of Aster DM. Check out your portfolio center. Please also check ongoing floating volatility patterns of Samhi Hotels and Aster DM.
Diversification Opportunities for Samhi Hotels and Aster DM
-0.05 | Correlation Coefficient |
Good diversification
The 3 months correlation between Samhi and Aster is -0.05. Overlapping area represents the amount of risk that can be diversified away by holding Samhi Hotels Limited and Aster DM Healthcare in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Aster DM Healthcare and Samhi 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 Samhi Hotels Limited are associated (or correlated) with Aster DM. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Aster DM Healthcare has no effect on the direction of Samhi Hotels i.e., Samhi Hotels and Aster DM go up and down completely randomly.
Pair Corralation between Samhi Hotels and Aster DM
Assuming the 90 days trading horizon Samhi Hotels is expected to generate 5.27 times less return on investment than Aster DM. But when comparing it to its historical volatility, Samhi Hotels Limited is 1.0 times less risky than Aster DM. It trades about 0.03 of its potential returns per unit of risk. Aster DM Healthcare is currently generating about 0.16 of returns per unit of risk over similar time horizon. If you would invest 34,509 in Aster DM Healthcare on September 25, 2024 and sell it today you would earn a total of 15,876 from holding Aster DM Healthcare or generate 46.01% return on investment over 90 days.
Time Period | 3 Months [change] |
Direction | Moves Against |
Strength | Insignificant |
Accuracy | 100.0% |
Values | Daily Returns |
Samhi Hotels Limited vs. Aster DM Healthcare
Performance |
Timeline |
Samhi Hotels Limited |
Aster DM Healthcare |
Samhi Hotels and Aster DM Volatility Contrast
Predicted Return Density |
Returns |
Pair Trading with Samhi Hotels and Aster DM
The main advantage of trading using opposite Samhi Hotels and Aster DM positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Samhi Hotels position performs unexpectedly, Aster DM 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 Aster DM will offset losses from the drop in Aster DM's long position.Samhi Hotels vs. Kaushalya Infrastructure Development | Samhi Hotels vs. Tarapur Transformers Limited | Samhi Hotels vs. Kingfa Science Technology | Samhi Hotels vs. Rico Auto Industries |
Aster DM vs. Samhi Hotels Limited | Aster DM vs. Taj GVK Hotels | Aster DM vs. Apollo Hospitals Enterprise | Aster DM vs. Bajaj Healthcare Limited |
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 Pattern Recognition module to use different Pattern Recognition models to time the market across multiple global exchanges.
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