Correlation Between Praxis Home and Procter Gamble
Specify exactly 2 symbols:
By analyzing existing cross correlation between Praxis Home Retail and Procter Gamble Health, you can compare the effects of market volatilities on Praxis Home and Procter Gamble 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 Procter Gamble. Check out your portfolio center. Please also check ongoing floating volatility patterns of Praxis Home and Procter Gamble.
Diversification Opportunities for Praxis Home and Procter Gamble
0.21 | Correlation Coefficient |
Modest diversification
The 3 months correlation between Praxis and Procter is 0.21. Overlapping area represents the amount of risk that can be diversified away by holding Praxis Home Retail and Procter Gamble Health in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Procter Gamble Health 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 Procter Gamble. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Procter Gamble Health has no effect on the direction of Praxis Home i.e., Praxis Home and Procter Gamble go up and down completely randomly.
Pair Corralation between Praxis Home and Procter Gamble
Assuming the 90 days trading horizon Praxis Home is expected to generate 7.3 times less return on investment than Procter Gamble. In addition to that, Praxis Home is 1.92 times more volatile than Procter Gamble Health. It trades about 0.01 of its total potential returns per unit of risk. Procter Gamble Health is currently generating about 0.08 per unit of volatility. If you would invest 583,329 in Procter Gamble Health on July 21, 2025 and sell it today you would earn a total of 41,071 from holding Procter Gamble Health or generate 7.04% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Praxis Home Retail vs. Procter Gamble Health
Performance |
| Timeline |
| Praxis Home Retail |
| Procter Gamble Health |
Praxis Home and Procter Gamble Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Praxis Home and Procter Gamble
The main advantage of trading using opposite Praxis Home and Procter Gamble positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Praxis Home position performs unexpectedly, Procter Gamble 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 Procter Gamble will offset losses from the drop in Procter Gamble's long position.| Praxis Home vs. Arman Financial Services | Praxis Home vs. Motilal Oswal Financial | Praxis Home vs. Max Financial Services | Praxis Home vs. Yes Bank Limited |
| Procter Gamble vs. Computer Age Management | Procter Gamble vs. Nucleus Software Exports | Procter Gamble vs. Tips Music Limited | Procter Gamble 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 Equity Forecasting module to use basic forecasting models to generate price predictions and determine price momentum.
Other Complementary Tools
| CEOs Directory Screen CEOs from public companies around the world | |
| Portfolio Manager State of the art Portfolio Manager to monitor and improve performance of your invested capital | |
| Sign In To Macroaxis Sign in to explore Macroaxis' wealth optimization platform and fintech modules | |
| FinTech Suite Use AI to screen and filter profitable investment opportunities | |
| Headlines Timeline Stay connected to all market stories and filter out noise. Drill down to analyze hype elasticity |