Correlation Between Oil India and Infomedia Press

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Can any of the company-specific risk be diversified away by investing in both Oil India and Infomedia Press at the same time? Although using a correlation coefficient on its own may not help to predict future stock returns, this module helps to understand the diversifiable risk of combining Oil India and Infomedia Press into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Oil India Limited and Infomedia Press Limited, you can compare the effects of market volatilities on Oil India and Infomedia Press 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 Oil India with a short position of Infomedia Press. Check out your portfolio center. Please also check ongoing floating volatility patterns of Oil India and Infomedia Press.

Diversification Opportunities for Oil India and Infomedia Press

0.0
  Correlation Coefficient

Pay attention - limited upside

The 3 months correlation between Oil and Infomedia is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Oil India Limited and Infomedia Press Limited in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Infomedia Press and Oil India 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 Oil India Limited are associated (or correlated) with Infomedia Press. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Infomedia Press has no effect on the direction of Oil India i.e., Oil India and Infomedia Press go up and down completely randomly.

Pair Corralation between Oil India and Infomedia Press

If you would invest  610.00  in Infomedia Press Limited on September 3, 2025 and sell it today you would earn a total of  76.00  from holding Infomedia Press Limited or generate 12.46% return on investment over 90 days.
Time Period3 Months [change]
DirectionFlat 
StrengthInsignificant
Accuracy1.56%
ValuesDaily Returns

Oil India Limited  vs.  Infomedia Press Limited

 Performance 
       Timeline  
Oil India Limited 

Risk-Adjusted Performance

Soft

 
Weak
 
Strong
Over the last 90 days Oil India Limited has generated negative risk-adjusted returns adding no value to investors with long positions. In spite of rather sound technical and fundamental indicators, Oil India is not utilizing all of its potentials. The current stock price tumult, may contribute to shorter-term losses for the shareholders.
Infomedia Press 

Risk-Adjusted Performance

Mild

 
Weak
 
Strong
Compared to the overall equity markets, risk-adjusted returns on investments in Infomedia Press Limited are ranked lower than 6 (%) of all global equities and portfolios over the last 90 days. In spite of rather weak fundamental indicators, Infomedia Press exhibited solid returns over the last few months and may actually be approaching a breakup point.

Oil India and Infomedia Press Volatility Contrast

   Predicted Return Density   
       Returns  

Pair Trading with Oil India and Infomedia Press

The main advantage of trading using opposite Oil India and Infomedia Press positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Oil India position performs unexpectedly, Infomedia Press 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 Infomedia Press will offset losses from the drop in Infomedia Press' long position.
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The idea behind Oil India Limited and Infomedia Press Limited pairs trading is to make the combined position market-neutral, meaning the overall market's direction will not affect its win or loss (or potential downside or upside). This can be achieved by designing a pairs trade with two highly correlated stocks or equities that operate in a similar space or sector, making it possible to obtain profits through simple and relatively low-risk investment.
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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 Earnings Calls module to check upcoming earnings announcements updated hourly across public exchanges.

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