Correlation Between NEW MAURITIUS and SUN
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By analyzing existing cross correlation between NEW MAURITIUS HOTELS and SUN LIMITED, you can compare the effects of market volatilities on NEW MAURITIUS and SUN 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 NEW MAURITIUS with a short position of SUN. Check out your portfolio center. Please also check ongoing floating volatility patterns of NEW MAURITIUS and SUN.
Diversification Opportunities for NEW MAURITIUS and SUN
-0.26 | Correlation Coefficient |
Very good diversification
The 3 months correlation between NEW and SUN is -0.26. Overlapping area represents the amount of risk that can be diversified away by holding NEW MAURITIUS HOTELS and SUN LIMITED in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on SUN LIMITED and NEW MAURITIUS 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 NEW MAURITIUS HOTELS are associated (or correlated) with SUN. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of SUN LIMITED has no effect on the direction of NEW MAURITIUS i.e., NEW MAURITIUS and SUN go up and down completely randomly.
Pair Corralation between NEW MAURITIUS and SUN
Assuming the 90 days trading horizon NEW MAURITIUS HOTELS is expected to under-perform the SUN. But the stock apears to be less risky and, when comparing its historical volatility, NEW MAURITIUS HOTELS is 1.8 times less risky than SUN. The stock trades about -0.01 of its potential returns per unit of risk. The SUN LIMITED is currently generating about 0.05 of returns per unit of risk over similar time horizon. If you would invest 3,545 in SUN LIMITED on April 23, 2025 and sell it today you would earn a total of 255.00 from holding SUN LIMITED or generate 7.19% return on investment over 90 days.
Time Period | 3 Months [change] |
Direction | Moves Against |
Strength | Insignificant |
Accuracy | 98.44% |
Values | Daily Returns |
NEW MAURITIUS HOTELS vs. SUN LIMITED
Performance |
Timeline |
NEW MAURITIUS HOTELS |
SUN LIMITED |
NEW MAURITIUS and SUN Volatility Contrast
Predicted Return Density |
Returns |
Pair Trading with NEW MAURITIUS and SUN
The main advantage of trading using opposite NEW MAURITIUS and SUN positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if NEW MAURITIUS position performs unexpectedly, SUN 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 SUN will offset losses from the drop in SUN's long position.NEW MAURITIUS vs. RHT HOLDING LTD | NEW MAURITIUS vs. FINCORP INVESTMENT LTD | NEW MAURITIUS vs. MCB GROUP LIMITED | NEW MAURITIUS vs. UNIVERSAL PARTNERS LTD |
SUN vs. RHT HOLDING LTD | SUN vs. FINCORP INVESTMENT LTD | SUN vs. MCB GROUP LIMITED | SUN vs. UNIVERSAL PARTNERS LTD |
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 Options Analysis module to analyze and evaluate options and option chains as a potential hedge for your portfolios.
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