Correlation Between Bikaji Foods and TRAVEL FOOD
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By analyzing existing cross correlation between Bikaji Foods International and TRAVEL FOOD SERVICES, you can compare the effects of market volatilities on Bikaji Foods and TRAVEL FOOD 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 Bikaji Foods with a short position of TRAVEL FOOD. Check out your portfolio center. Please also check ongoing floating volatility patterns of Bikaji Foods and TRAVEL FOOD.
Diversification Opportunities for Bikaji Foods and TRAVEL FOOD
-0.45 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Bikaji and TRAVEL is -0.45. Overlapping area represents the amount of risk that can be diversified away by holding Bikaji Foods International and TRAVEL FOOD SERVICES in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on TRAVEL FOOD SERVICES and Bikaji Foods 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 Bikaji Foods International are associated (or correlated) with TRAVEL FOOD. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of TRAVEL FOOD SERVICES has no effect on the direction of Bikaji Foods i.e., Bikaji Foods and TRAVEL FOOD go up and down completely randomly.
Pair Corralation between Bikaji Foods and TRAVEL FOOD
Assuming the 90 days trading horizon Bikaji Foods International is expected to generate 1.05 times more return on investment than TRAVEL FOOD. However, Bikaji Foods is 1.05 times more volatile than TRAVEL FOOD SERVICES. It trades about -0.15 of its potential returns per unit of risk. TRAVEL FOOD SERVICES is currently generating about -0.2 per unit of risk. If you would invest 73,335 in Bikaji Foods International on August 20, 2025 and sell it today you would lose (1,885) from holding Bikaji Foods International or give up 2.57% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Bikaji Foods International vs. TRAVEL FOOD SERVICES
Performance |
| Timeline |
| Bikaji Foods Interna |
| TRAVEL FOOD SERVICES |
Bikaji Foods and TRAVEL FOOD Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Bikaji Foods and TRAVEL FOOD
The main advantage of trading using opposite Bikaji Foods and TRAVEL FOOD positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Bikaji Foods position performs unexpectedly, TRAVEL FOOD 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 TRAVEL FOOD will offset losses from the drop in TRAVEL FOOD's long position.| Bikaji Foods vs. Star Health and | Bikaji Foods vs. Sri Havisha Hospitality | Bikaji Foods vs. Bajaj Healthcare Limited | Bikaji Foods vs. Kalyani Investment |
| TRAVEL FOOD vs. Life Insurance | TRAVEL FOOD vs. Teamlease Services Limited | TRAVEL FOOD vs. Heritage Foods Limited | TRAVEL FOOD vs. Usha Martin Education |
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 Equity Analysis module to research over 250,000 global equities including funds, stocks and ETFs to find investment opportunities.
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