Correlation Between Diligent Media and Can Fin
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By analyzing existing cross correlation between Diligent Media and Can Fin Homes, you can compare the effects of market volatilities on Diligent Media and Can Fin 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 Diligent Media with a short position of Can Fin. Check out your portfolio center. Please also check ongoing floating volatility patterns of Diligent Media and Can Fin.
Diversification Opportunities for Diligent Media and Can Fin
-0.9 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Diligent and Can is -0.9. Overlapping area represents the amount of risk that can be diversified away by holding Diligent Media and Can Fin Homes in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Can Fin Homes and Diligent Media 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 Diligent Media are associated (or correlated) with Can Fin. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Can Fin Homes has no effect on the direction of Diligent Media i.e., Diligent Media and Can Fin go up and down completely randomly.
Pair Corralation between Diligent Media and Can Fin
Assuming the 90 days trading horizon Diligent Media is expected to under-perform the Can Fin. In addition to that, Diligent Media is 1.7 times more volatile than Can Fin Homes. It trades about -0.08 of its total potential returns per unit of risk. Can Fin Homes is currently generating about 0.22 per unit of volatility. If you would invest 74,800 in Can Fin Homes on September 8, 2025 and sell it today you would earn a total of 15,280 from holding Can Fin Homes or generate 20.43% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Significant |
| Accuracy | 96.92% |
| Values | Daily Returns |
Diligent Media vs. Can Fin Homes
Performance |
| Timeline |
| Diligent Media |
| Can Fin Homes |
Diligent Media and Can Fin Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Diligent Media and Can Fin
The main advantage of trading using opposite Diligent Media and Can Fin positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Diligent Media position performs unexpectedly, Can Fin 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 Can Fin will offset losses from the drop in Can Fin's long position.| Diligent Media vs. HDFC Bank Limited | Diligent Media vs. Reliance Industries Limited | Diligent Media vs. ICICI Bank Limited | Diligent Media vs. State Bank of |
| Can Fin vs. Praxis Home Retail | Can Fin vs. Parag Milk Foods | Can Fin vs. V Mart Retail Limited | Can Fin vs. JHS Svendgaard 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 Odds Of Bankruptcy module to get analysis of equity chance of financial distress in the next 2 years.
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