Correlation Between Ankit Metal and Kamat Hotels
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By analyzing existing cross correlation between Ankit Metal Power and Kamat Hotels Limited, you can compare the effects of market volatilities on Ankit Metal and Kamat Hotels 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 Ankit Metal with a short position of Kamat Hotels. Check out your portfolio center. Please also check ongoing floating volatility patterns of Ankit Metal and Kamat Hotels.
Diversification Opportunities for Ankit Metal and Kamat Hotels
0.71 | Correlation Coefficient |
Poor diversification
The 3 months correlation between Ankit and Kamat is 0.71. Overlapping area represents the amount of risk that can be diversified away by holding Ankit Metal Power and Kamat Hotels Limited in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Kamat Hotels Limited and Ankit Metal 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 Ankit Metal Power are associated (or correlated) with Kamat Hotels. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Kamat Hotels Limited has no effect on the direction of Ankit Metal i.e., Ankit Metal and Kamat Hotels go up and down completely randomly.
Pair Corralation between Ankit Metal and Kamat Hotels
Assuming the 90 days trading horizon Ankit Metal Power is expected to generate 0.79 times more return on investment than Kamat Hotels. However, Ankit Metal Power is 1.27 times less risky than Kamat Hotels. It trades about -0.02 of its potential returns per unit of risk. Kamat Hotels Limited is currently generating about -0.11 per unit of risk. If you would invest 189.00 in Ankit Metal Power on September 3, 2025 and sell it today you would lose (10.00) from holding Ankit Metal Power or give up 5.29% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Significant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Ankit Metal Power vs. Kamat Hotels Limited
Performance |
| Timeline |
| Ankit Metal Power |
| Kamat Hotels Limited |
Ankit Metal and Kamat Hotels Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Ankit Metal and Kamat Hotels
The main advantage of trading using opposite Ankit Metal and Kamat Hotels positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Ankit Metal position performs unexpectedly, Kamat Hotels 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 Kamat Hotels will offset losses from the drop in Kamat Hotels' long position.| Ankit Metal vs. Som Distilleries Breweries | Ankit Metal vs. Total Transport Systems | Ankit Metal vs. Rajnandini Metal Limited | Ankit Metal vs. Paramount Communications Limited |
| Kamat Hotels vs. Transport of | Kamat Hotels vs. Kanoria Chemicals Industries | Kamat Hotels vs. Owais Metal and | Kamat Hotels vs. Manali Petrochemicals 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 Volatility Analysis module to get historical volatility and risk analysis based on latest market data.
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