Correlation Between Shaily Engineering and COSMO FIRST
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By analyzing existing cross correlation between Shaily Engineering Plastics and COSMO FIRST LIMITED, you can compare the effects of market volatilities on Shaily Engineering and COSMO FIRST 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 Shaily Engineering with a short position of COSMO FIRST. Check out your portfolio center. Please also check ongoing floating volatility patterns of Shaily Engineering and COSMO FIRST.
Diversification Opportunities for Shaily Engineering and COSMO FIRST
-0.59 | Correlation Coefficient |
Excellent diversification
The 3 months correlation between Shaily and COSMO is -0.59. Overlapping area represents the amount of risk that can be diversified away by holding Shaily Engineering Plastics and COSMO FIRST LIMITED in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on COSMO FIRST LIMITED and Shaily Engineering 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 Shaily Engineering Plastics are associated (or correlated) with COSMO FIRST. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of COSMO FIRST LIMITED has no effect on the direction of Shaily Engineering i.e., Shaily Engineering and COSMO FIRST go up and down completely randomly.
Pair Corralation between Shaily Engineering and COSMO FIRST
Assuming the 90 days trading horizon Shaily Engineering Plastics is expected to generate 1.55 times more return on investment than COSMO FIRST. However, Shaily Engineering is 1.55 times more volatile than COSMO FIRST LIMITED. It trades about 0.09 of its potential returns per unit of risk. COSMO FIRST LIMITED is currently generating about -0.22 per unit of risk. If you would invest 218,347 in Shaily Engineering Plastics on September 4, 2025 and sell it today you would earn a total of 34,003 from holding Shaily Engineering Plastics or generate 15.57% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Shaily Engineering Plastics vs. COSMO FIRST LIMITED
Performance |
| Timeline |
| Shaily Engineering |
| COSMO FIRST LIMITED |
Shaily Engineering and COSMO FIRST Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Shaily Engineering and COSMO FIRST
The main advantage of trading using opposite Shaily Engineering and COSMO FIRST positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Shaily Engineering position performs unexpectedly, COSMO FIRST 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 COSMO FIRST will offset losses from the drop in COSMO FIRST's long position.| Shaily Engineering vs. Action Construction Equipment | Shaily Engineering vs. Rajnandini Metal Limited | Shaily Engineering vs. Gokul Refoils and | Shaily Engineering vs. Shyam Metalics and |
| COSMO FIRST vs. Navneet Education Limited | COSMO FIRST vs. LT Foods Limited | COSMO FIRST vs. ADF Foods Limited | COSMO FIRST vs. G Tec Jainx Education |
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 Share Portfolio module to track or share privately all of your investments from the convenience of any device.
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