Correlation Between MAS Financial and Cantabil Retail
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By analyzing existing cross correlation between MAS Financial Services and Cantabil Retail India, you can compare the effects of market volatilities on MAS Financial and Cantabil Retail 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 MAS Financial with a short position of Cantabil Retail. Check out your portfolio center. Please also check ongoing floating volatility patterns of MAS Financial and Cantabil Retail.
Diversification Opportunities for MAS Financial and Cantabil Retail
-0.43 | Correlation Coefficient |
Very good diversification
The 3 months correlation between MAS and Cantabil is -0.43. Overlapping area represents the amount of risk that can be diversified away by holding MAS Financial Services and Cantabil Retail India in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Cantabil Retail India and MAS Financial 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 MAS Financial Services are associated (or correlated) with Cantabil Retail. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Cantabil Retail India has no effect on the direction of MAS Financial i.e., MAS Financial and Cantabil Retail go up and down completely randomly.
Pair Corralation between MAS Financial and Cantabil Retail
Assuming the 90 days trading horizon MAS Financial is expected to generate 2.43 times less return on investment than Cantabil Retail. But when comparing it to its historical volatility, MAS Financial Services is 1.9 times less risky than Cantabil Retail. It trades about 0.03 of its potential returns per unit of risk. Cantabil Retail India is currently generating about 0.04 of returns per unit of risk over similar time horizon. If you would invest 23,937 in Cantabil Retail India on September 26, 2024 and sell it today you would earn a total of 3,218 from holding Cantabil Retail India or generate 13.44% return on investment over 90 days.
Time Period | 3 Months [change] |
Direction | Moves Against |
Strength | Very Weak |
Accuracy | 100.0% |
Values | Daily Returns |
MAS Financial Services vs. Cantabil Retail India
Performance |
Timeline |
MAS Financial Services |
Cantabil Retail India |
MAS Financial and Cantabil Retail Volatility Contrast
Predicted Return Density |
Returns |
Pair Trading with MAS Financial and Cantabil Retail
The main advantage of trading using opposite MAS Financial and Cantabil Retail positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if MAS Financial position performs unexpectedly, Cantabil Retail 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 Cantabil Retail will offset losses from the drop in Cantabil Retail's long position.MAS Financial vs. Shree Pushkar Chemicals | MAS Financial vs. Cantabil Retail India | MAS Financial vs. Archean Chemical Industries | MAS Financial vs. Praxis Home Retail |
Cantabil Retail vs. Max Financial Services | Cantabil Retail vs. DCB Bank Limited | Cantabil Retail vs. MAS Financial Services | Cantabil Retail vs. Punjab National Bank |
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 USA ETFs module to find actively traded Exchange Traded Funds (ETF) in USA.
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