Correlation Between Segall Bryant and Alps/kotak India
Can any of the company-specific risk be diversified away by investing in both Segall Bryant and Alps/kotak India 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 Segall Bryant and Alps/kotak India into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Segall Bryant Hamill and Alpskotak India Growth, you can compare the effects of market volatilities on Segall Bryant and Alps/kotak India 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 Segall Bryant with a short position of Alps/kotak India. Check out your portfolio center. Please also check ongoing floating volatility patterns of Segall Bryant and Alps/kotak India.
Diversification Opportunities for Segall Bryant and Alps/kotak India
0.5 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between Segall and Alps/kotak is 0.5. Overlapping area represents the amount of risk that can be diversified away by holding Segall Bryant Hamill and Alpskotak India Growth in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Alpskotak India Growth and Segall Bryant 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 Segall Bryant Hamill are associated (or correlated) with Alps/kotak India. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Alpskotak India Growth has no effect on the direction of Segall Bryant i.e., Segall Bryant and Alps/kotak India go up and down completely randomly.
Pair Corralation between Segall Bryant and Alps/kotak India
Assuming the 90 days horizon Segall Bryant Hamill is expected to generate 1.13 times more return on investment than Alps/kotak India. However, Segall Bryant is 1.13 times more volatile than Alpskotak India Growth. It trades about 0.28 of its potential returns per unit of risk. Alpskotak India Growth is currently generating about 0.25 per unit of risk. If you would invest 1,297 in Segall Bryant Hamill on April 19, 2025 and sell it today you would earn a total of 48.00 from holding Segall Bryant Hamill or generate 3.7% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Segall Bryant Hamill vs. Alpskotak India Growth
Performance |
| Timeline |
| Segall Bryant Hamill |
| Alpskotak India Growth |
Segall Bryant and Alps/kotak India Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Segall Bryant and Alps/kotak India
The main advantage of trading using opposite Segall Bryant and Alps/kotak India positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Segall Bryant position performs unexpectedly, Alps/kotak India 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 Alps/kotak India will offset losses from the drop in Alps/kotak India's long position.| Segall Bryant vs. Fidelity Sai Convertible | Segall Bryant vs. Advent Claymore Convertible | Segall Bryant vs. Absolute Convertible Arbitrage | Segall Bryant vs. Calamos Dynamic Convertible |
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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 Sign In To Macroaxis module to sign in to explore Macroaxis' wealth optimization platform and fintech modules.
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