Correlation Between ICICI Bank and Multi Commodity
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By analyzing existing cross correlation between ICICI Bank Limited and Multi Commodity Exchange, you can compare the effects of market volatilities on ICICI Bank and Multi Commodity 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 ICICI Bank with a short position of Multi Commodity. Check out your portfolio center. Please also check ongoing floating volatility patterns of ICICI Bank and Multi Commodity.
Diversification Opportunities for ICICI Bank and Multi Commodity
-0.42 | Correlation Coefficient |
Very good diversification
The 3 months correlation between ICICI and Multi is -0.42. Overlapping area represents the amount of risk that can be diversified away by holding ICICI Bank Limited and Multi Commodity Exchange in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Multi Commodity Exchange and ICICI Bank 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 ICICI Bank Limited are associated (or correlated) with Multi Commodity. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Multi Commodity Exchange has no effect on the direction of ICICI Bank i.e., ICICI Bank and Multi Commodity go up and down completely randomly.
Pair Corralation between ICICI Bank and Multi Commodity
Assuming the 90 days trading horizon ICICI Bank Limited is expected to under-perform the Multi Commodity. But the stock apears to be less risky and, when comparing its historical volatility, ICICI Bank Limited is 2.06 times less risky than Multi Commodity. The stock trades about 0.0 of its potential returns per unit of risk. The Multi Commodity Exchange is currently generating about 0.25 of returns per unit of risk over similar time horizon. If you would invest 764,950 in Multi Commodity Exchange on September 2, 2025 and sell it today you would earn a total of 242,400 from holding Multi Commodity Exchange or generate 31.69% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 96.88% |
| Values | Daily Returns |
ICICI Bank Limited vs. Multi Commodity Exchange
Performance |
| Timeline |
| ICICI Bank Limited |
| Multi Commodity Exchange |
ICICI Bank and Multi Commodity Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with ICICI Bank and Multi Commodity
The main advantage of trading using opposite ICICI Bank and Multi Commodity positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if ICICI Bank position performs unexpectedly, Multi Commodity 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 Multi Commodity will offset losses from the drop in Multi Commodity's long position.| ICICI Bank vs. Tamilnad Mercantile Bank | ICICI Bank vs. Associated Alcohols Breweries | ICICI Bank vs. Bank of Maharashtra | ICICI Bank vs. Transport of |
| Multi Commodity vs. Tera Software Limited | Multi Commodity vs. Akme Fintrade India | Multi Commodity vs. GSM Foils | Multi Commodity vs. Transport of |
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 Financial Widgets module to easily integrated Macroaxis content with over 30 different plug-and-play financial widgets.
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