Correlation Between Praxis Home and Can Fin
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By analyzing existing cross correlation between Praxis Home Retail and Can Fin Homes, you can compare the effects of market volatilities on Praxis Home 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 Praxis Home with a short position of Can Fin. Check out your portfolio center. Please also check ongoing floating volatility patterns of Praxis Home and Can Fin.
Diversification Opportunities for Praxis Home and Can Fin
-0.48 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Praxis and Can is -0.48. Overlapping area represents the amount of risk that can be diversified away by holding Praxis Home Retail 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 Praxis Home 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 Praxis Home Retail 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 Praxis Home i.e., Praxis Home and Can Fin go up and down completely randomly.
Pair Corralation between Praxis Home and Can Fin
Assuming the 90 days trading horizon Praxis Home Retail is expected to under-perform the Can Fin. In addition to that, Praxis Home is 1.67 times more volatile than Can Fin Homes. It trades about -0.12 of its total potential returns per unit of risk. Can Fin Homes is currently generating about 0.16 per unit of volatility. If you would invest 77,000 in Can Fin Homes on August 22, 2025 and sell it today you would earn a total of 12,030 from holding Can Fin Homes or generate 15.62% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 95.24% |
| Values | Daily Returns |
Praxis Home Retail vs. Can Fin Homes
Performance |
| Timeline |
| Praxis Home Retail |
| Can Fin Homes |
Praxis Home and Can Fin Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Praxis Home and Can Fin
The main advantage of trading using opposite Praxis Home and Can Fin positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Praxis Home 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.| Praxis Home vs. MRF Limited | Praxis Home vs. Nalwa Sons Investments | Praxis Home vs. JSW Holdings Limited | Praxis Home vs. Maharashtra Scooters Limited |
| Can Fin vs. Hisar Metal Industries | Can Fin vs. METALIETF | Can Fin vs. 21st Century Management | Can Fin vs. Associated Alcohols Breweries |
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 My Watchlist Analysis module to analyze my current watchlist and to refresh optimization strategy. Macroaxis watchlist is based on self-learning algorithm to remember stocks you like.
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