Correlation Between C I and TRANSCORP HOTELS
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By analyzing existing cross correlation between C I LEASING and TRANSCORP HOTELS PLC, you can compare the effects of market volatilities on C I and TRANSCORP 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 C I with a short position of TRANSCORP HOTELS. Check out your portfolio center. Please also check ongoing floating volatility patterns of C I and TRANSCORP HOTELS.
Diversification Opportunities for C I and TRANSCORP HOTELS
-0.22 | Correlation Coefficient |
Very good diversification
The 3 months correlation between CILEASING and TRANSCORP is -0.22. Overlapping area represents the amount of risk that can be diversified away by holding C I LEASING and TRANSCORP HOTELS PLC in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on TRANSCORP HOTELS PLC and C I 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 C I LEASING are associated (or correlated) with TRANSCORP HOTELS. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of TRANSCORP HOTELS PLC has no effect on the direction of C I i.e., C I and TRANSCORP HOTELS go up and down completely randomly.
Pair Corralation between C I and TRANSCORP HOTELS
Assuming the 90 days trading horizon C I LEASING is expected to generate 1.92 times more return on investment than TRANSCORP HOTELS. However, C I is 1.92 times more volatile than TRANSCORP HOTELS PLC. It trades about 0.29 of its potential returns per unit of risk. TRANSCORP HOTELS PLC is currently generating about 0.0 per unit of risk. If you would invest 373.00 in C I LEASING on April 14, 2025 and sell it today you would earn a total of 504.00 from holding C I LEASING or generate 135.12% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
C I LEASING vs. TRANSCORP HOTELS PLC
Performance |
| Timeline |
| C I LEASING |
| TRANSCORP HOTELS PLC |
C I and TRANSCORP HOTELS Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with C I and TRANSCORP HOTELS
The main advantage of trading using opposite C I and TRANSCORP HOTELS positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if C I position performs unexpectedly, TRANSCORP 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 TRANSCORP HOTELS will offset losses from the drop in TRANSCORP HOTELS's long position.| C I vs. GUINEA INSURANCE PLC | C I vs. VITAFOAM NIGERIA PLC | C I vs. SECURE ELECTRONIC TECHNOLOGY | C I vs. SFS REAL ESTATE |
| TRANSCORP HOTELS vs. GUINEA INSURANCE PLC | TRANSCORP HOTELS vs. VITAFOAM NIGERIA PLC | TRANSCORP HOTELS vs. SECURE ELECTRONIC TECHNOLOGY | TRANSCORP HOTELS vs. SFS REAL ESTATE |
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 Technical Analysis module to check basic technical indicators and analysis based on most latest market data.
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