Correlation Between Banka BioLoo and Hybrid Financial
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By analyzing existing cross correlation between Banka BioLoo Limited and Hybrid Financial Services, you can compare the effects of market volatilities on Banka BioLoo and Hybrid Financial 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 Banka BioLoo with a short position of Hybrid Financial. Check out your portfolio center. Please also check ongoing floating volatility patterns of Banka BioLoo and Hybrid Financial.
Diversification Opportunities for Banka BioLoo and Hybrid Financial
-0.25 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Banka and Hybrid is -0.25. Overlapping area represents the amount of risk that can be diversified away by holding Banka BioLoo Limited and Hybrid Financial Services in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Hybrid Financial Services and Banka BioLoo 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 Banka BioLoo Limited are associated (or correlated) with Hybrid Financial. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Hybrid Financial Services has no effect on the direction of Banka BioLoo i.e., Banka BioLoo and Hybrid Financial go up and down completely randomly.
Pair Corralation between Banka BioLoo and Hybrid Financial
Assuming the 90 days trading horizon Banka BioLoo is expected to generate 1.72 times less return on investment than Hybrid Financial. In addition to that, Banka BioLoo is 1.14 times more volatile than Hybrid Financial Services. It trades about 0.05 of its total potential returns per unit of risk. Hybrid Financial Services is currently generating about 0.09 per unit of volatility. If you would invest 815.00 in Hybrid Financial Services on September 26, 2024 and sell it today you would earn a total of 867.00 from holding Hybrid Financial Services or generate 106.38% return on investment over 90 days.
Time Period | 3 Months [change] |
Direction | Moves Against |
Strength | Insignificant |
Accuracy | 100.0% |
Values | Daily Returns |
Banka BioLoo Limited vs. Hybrid Financial Services
Performance |
Timeline |
Banka BioLoo Limited |
Hybrid Financial Services |
Banka BioLoo and Hybrid Financial Volatility Contrast
Predicted Return Density |
Returns |
Pair Trading with Banka BioLoo and Hybrid Financial
The main advantage of trading using opposite Banka BioLoo and Hybrid Financial positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Banka BioLoo position performs unexpectedly, Hybrid Financial 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 Hybrid Financial will offset losses from the drop in Hybrid Financial's long position.Banka BioLoo vs. Kingfa Science Technology | Banka BioLoo vs. Rico Auto Industries | Banka BioLoo vs. GACM Technologies Limited | Banka BioLoo vs. COSMO FIRST LIMITED |
Hybrid Financial vs. Edelweiss Financial Services | Hybrid Financial vs. Banka BioLoo Limited | Hybrid Financial vs. Allied Blenders Distillers | Hybrid Financial vs. SBI Life Insurance |
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 Commodity Channel module to use Commodity Channel Index to analyze current equity momentum.
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