Correlation Between Bajaj Holdings and Network18 Media
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By analyzing existing cross correlation between Bajaj Holdings Investment and Network18 Media Investments, you can compare the effects of market volatilities on Bajaj Holdings and Network18 Media 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 Bajaj Holdings with a short position of Network18 Media. Check out your portfolio center. Please also check ongoing floating volatility patterns of Bajaj Holdings and Network18 Media.
Diversification Opportunities for Bajaj Holdings and Network18 Media
0.86 | Correlation Coefficient |
Very poor diversification
The 3 months correlation between Bajaj and Network18 is 0.86. Overlapping area represents the amount of risk that can be diversified away by holding Bajaj Holdings Investment and Network18 Media Investments in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Network18 Media Inve and Bajaj Holdings 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 Bajaj Holdings Investment are associated (or correlated) with Network18 Media. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Network18 Media Inve has no effect on the direction of Bajaj Holdings i.e., Bajaj Holdings and Network18 Media go up and down completely randomly.
Pair Corralation between Bajaj Holdings and Network18 Media
Assuming the 90 days trading horizon Bajaj Holdings Investment is expected to generate 1.01 times more return on investment than Network18 Media. However, Bajaj Holdings is 1.01 times more volatile than Network18 Media Investments. It trades about -0.09 of its potential returns per unit of risk. Network18 Media Investments is currently generating about -0.16 per unit of risk. If you would invest 1,396,592 in Bajaj Holdings Investment on July 21, 2025 and sell it today you would lose (131,092) from holding Bajaj Holdings Investment or give up 9.39% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Strong |
| Accuracy | 100.0% |
| Values | Daily Returns |
Bajaj Holdings Investment vs. Network18 Media Investments
Performance |
| Timeline |
| Bajaj Holdings Investment |
| Network18 Media Inve |
Bajaj Holdings and Network18 Media Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Bajaj Holdings and Network18 Media
The main advantage of trading using opposite Bajaj Holdings and Network18 Media positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Bajaj Holdings position performs unexpectedly, Network18 Media 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 Network18 Media will offset losses from the drop in Network18 Media's long position.| Bajaj Holdings vs. Bikaji Foods International | Bajaj Holdings vs. Varun Beverages Limited | Bajaj Holdings vs. Ratnamani Metals Tubes | Bajaj Holdings vs. Rajnandini Metal Limited |
| Network18 Media vs. Aarti Drugs Limited | Network18 Media vs. Aarey Drugs Pharmaceuticals | Network18 Media vs. Healthcare Global Enterprises | Network18 Media vs. Zota Health Care |
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 Money Managers module to screen money managers from public funds and ETFs managed around the world.
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