Correlation Between Gujarat Fluorochemicals and Network18 Media
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By analyzing existing cross correlation between Gujarat Fluorochemicals Limited and Network18 Media Investments, you can compare the effects of market volatilities on Gujarat Fluorochemicals 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 Gujarat Fluorochemicals with a short position of Network18 Media. Check out your portfolio center. Please also check ongoing floating volatility patterns of Gujarat Fluorochemicals and Network18 Media.
Diversification Opportunities for Gujarat Fluorochemicals and Network18 Media
0.33 | Correlation Coefficient |
Weak diversification
The 3 months correlation between Gujarat and Network18 is 0.33. Overlapping area represents the amount of risk that can be diversified away by holding Gujarat Fluorochemicals Limite 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 Gujarat Fluorochemicals 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 Gujarat Fluorochemicals Limited 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 Gujarat Fluorochemicals i.e., Gujarat Fluorochemicals and Network18 Media go up and down completely randomly.
Pair Corralation between Gujarat Fluorochemicals and Network18 Media
Assuming the 90 days trading horizon Gujarat Fluorochemicals Limited is expected to generate 1.62 times more return on investment than Network18 Media. However, Gujarat Fluorochemicals is 1.62 times more volatile than Network18 Media Investments. It trades about 0.01 of its potential returns per unit of risk. Network18 Media Investments is currently generating about -0.25 per unit of risk. If you would invest 338,323 in Gujarat Fluorochemicals Limited on September 3, 2025 and sell it today you would earn a total of 1,297 from holding Gujarat Fluorochemicals Limited or generate 0.38% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Gujarat Fluorochemicals Limite vs. Network18 Media Investments
Performance |
| Timeline |
| Gujarat Fluorochemicals |
| Network18 Media Inve |
Gujarat Fluorochemicals and Network18 Media Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Gujarat Fluorochemicals and Network18 Media
The main advantage of trading using opposite Gujarat Fluorochemicals and Network18 Media positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Gujarat Fluorochemicals 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.| Gujarat Fluorochemicals vs. NMDC Limited | Gujarat Fluorochemicals vs. Steel Authority of | Gujarat Fluorochemicals vs. Embassy Office Parks | Gujarat Fluorochemicals vs. Gujarat Narmada Valley |
| Network18 Media vs. Praxis Home Retail | Network18 Media vs. Silver Touch Technologies | Network18 Media vs. Repco Home Finance | Network18 Media vs. Rajnandini Metal Limited |
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 Valuation module to check real value of public entities based on technical and fundamental data.
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