Correlation Between Aster DM and Yatharth Hospital
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By analyzing existing cross correlation between Aster DM Healthcare and Yatharth Hospital Trauma, you can compare the effects of market volatilities on Aster DM and Yatharth Hospital 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 Aster DM with a short position of Yatharth Hospital. Check out your portfolio center. Please also check ongoing floating volatility patterns of Aster DM and Yatharth Hospital.
Diversification Opportunities for Aster DM and Yatharth Hospital
0.81 | Correlation Coefficient |
Very poor diversification
The 3 months correlation between Aster and Yatharth is 0.81. Overlapping area represents the amount of risk that can be diversified away by holding Aster DM Healthcare and Yatharth Hospital Trauma in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Yatharth Hospital Trauma and Aster DM 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 Aster DM Healthcare are associated (or correlated) with Yatharth Hospital. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Yatharth Hospital Trauma has no effect on the direction of Aster DM i.e., Aster DM and Yatharth Hospital go up and down completely randomly.
Pair Corralation between Aster DM and Yatharth Hospital
Assuming the 90 days trading horizon Aster DM Healthcare is expected to generate 0.79 times more return on investment than Yatharth Hospital. However, Aster DM Healthcare is 1.26 times less risky than Yatharth Hospital. It trades about 0.11 of its potential returns per unit of risk. Yatharth Hospital Trauma is currently generating about 0.06 per unit of risk. If you would invest 60,458 in Aster DM Healthcare on August 14, 2025 and sell it today you would earn a total of 7,307 from holding Aster DM Healthcare or generate 12.09% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Strong |
| Accuracy | 98.39% |
| Values | Daily Returns |
Aster DM Healthcare vs. Yatharth Hospital Trauma
Performance |
| Timeline |
| Aster DM Healthcare |
| Yatharth Hospital Trauma |
Aster DM and Yatharth Hospital Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Aster DM and Yatharth Hospital
The main advantage of trading using opposite Aster DM and Yatharth Hospital positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Aster DM position performs unexpectedly, Yatharth Hospital 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 Yatharth Hospital will offset losses from the drop in Yatharth Hospital's long position.| Aster DM vs. GVP Infotech Limited | Aster DM vs. Kingfa Science Technology | Aster DM vs. Rico Auto Industries | Aster DM vs. GACM Technologies Limited |
| Yatharth Hospital vs. Repco Home Finance | Yatharth Hospital vs. Univa Foods Limited | Yatharth Hospital vs. Megastar Foods Limited | Yatharth Hospital vs. Praxis Home Retail |
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 ETF Categories module to list of ETF categories grouped based on various criteria, such as the investment strategy or type of investments.
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