Correlation Between Hexa Tradex and General Insurance
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By analyzing existing cross correlation between Hexa Tradex Limited and General Insurance, you can compare the effects of market volatilities on Hexa Tradex and General Insurance 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 Hexa Tradex with a short position of General Insurance. Check out your portfolio center. Please also check ongoing floating volatility patterns of Hexa Tradex and General Insurance.
Diversification Opportunities for Hexa Tradex and General Insurance
-0.61 | Correlation Coefficient |
Excellent diversification
The 3 months correlation between Hexa and General is -0.61. Overlapping area represents the amount of risk that can be diversified away by holding Hexa Tradex Limited and General Insurance in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on General Insurance and Hexa Tradex 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 Hexa Tradex Limited are associated (or correlated) with General Insurance. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of General Insurance has no effect on the direction of Hexa Tradex i.e., Hexa Tradex and General Insurance go up and down completely randomly.
Pair Corralation between Hexa Tradex and General Insurance
Assuming the 90 days trading horizon Hexa Tradex Limited is expected to under-perform the General Insurance. But the stock apears to be less risky and, when comparing its historical volatility, Hexa Tradex Limited is 1.07 times less risky than General Insurance. The stock trades about -0.08 of its potential returns per unit of risk. The General Insurance is currently generating about 0.08 of returns per unit of risk over similar time horizon. If you would invest 37,262 in General Insurance on August 21, 2025 and sell it today you would earn a total of 2,083 from holding General Insurance or generate 5.59% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Hexa Tradex Limited vs. General Insurance
Performance |
| Timeline |
| Hexa Tradex Limited |
| General Insurance |
Hexa Tradex and General Insurance Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Hexa Tradex and General Insurance
The main advantage of trading using opposite Hexa Tradex and General Insurance positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Hexa Tradex position performs unexpectedly, General Insurance 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 General Insurance will offset losses from the drop in General Insurance's long position.| Hexa Tradex vs. Blue Coast Hotels | Hexa Tradex vs. Take Solutions Limited | Hexa Tradex vs. Gayatri Highways Limited | Hexa Tradex vs. TCI Finance Limited |
| General Insurance vs. Kaynes Technology India | General Insurance vs. Vidhi Specialty Food | General Insurance vs. FCS Software Solutions | General Insurance vs. LT Technology Services |
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 Bond Analysis module to evaluate and analyze corporate bonds as a potential investment for your portfolios..
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