Correlation Between Osia Hyper and Niva Bupa

Can any of the company-specific risk be diversified away by investing in both Osia Hyper and Niva Bupa 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 Osia Hyper and Niva Bupa into the same portfolio, which is an essential part of the fundamental portfolio management process.

By analyzing existing cross correlation between Osia Hyper Retail and Niva Bupa Health, you can compare the effects of market volatilities on Osia Hyper and Niva Bupa 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 Osia Hyper with a short position of Niva Bupa. Check out your portfolio center. Please also check ongoing floating volatility patterns of Osia Hyper and Niva Bupa.

Diversification Opportunities for Osia Hyper and Niva Bupa

0.13

Correlation Coefficient

Osia Hyper  Niva Bupa

Average diversification

The 3 months correlation between Osia and Niva is 0.13. Overlapping area represents the amount of risk that can be diversified away by holding Osia Hyper Retail and Niva Bupa Health in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Niva Bupa Health and Osia Hyper 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 Osia Hyper Retail are associated (or correlated) with Niva Bupa. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Niva Bupa Health has no effect on the direction of Osia Hyper i.e., Osia Hyper and Niva Bupa go up and down completely randomly.

Pair Corralation between Osia Hyper and Niva Bupa

Assuming the 90 days trading horizon Osia Hyper Retail is expected to under-perform the Niva Bupa. In addition to that, Osia Hyper is 1.13 times more volatile than Niva Bupa Health. It trades about -0.28 of its total potential returns per unit of risk. Niva Bupa Health is currently generating about 0.02 per unit of volatility. If you would invest  8,103  in Niva Bupa Health on May 7, 2025 and sell it today you would earn a total of  97.00  from holding Niva Bupa Health or generate 1.2% return on investment over 90 days.

Time Period	3 Months [change]
Direction	Moves Together
Strength	Insignificant
Accuracy	100.0%
Values	Daily Returns

Osia Hyper Retail  vs.  Niva Bupa Health

Osia Hyper Retail

Risk-Adjusted Performance

Very Weak

Over the last 90 days Osia Hyper Retail has generated negative risk-adjusted returns adding no value to investors with long positions. Even with conflicting performance in the last few months, the Stock's basic indicators remain relatively invariable which may send shares a bit higher in September 2025. The latest agitation may also be a sign of long-running up-swing for the enterprise retail investors.

Niva Bupa Health

Risk-Adjusted Performance

Weak

Compared to the overall equity markets, risk-adjusted returns on investments in Niva Bupa Health are ranked lower than 1 (%) of all global equities and portfolios over the last 90 days. Even with relatively invariable basic indicators, Niva Bupa is not utilizing all of its potentials. The recent stock price agitation, may contribute to short-term losses for the retail investors.

Pair Trading with Osia Hyper and Niva Bupa

The main advantage of trading using opposite Osia Hyper and Niva Bupa positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Osia Hyper position performs unexpectedly, Niva Bupa 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 Niva Bupa will offset losses from the drop in Niva Bupa's long position.

The idea behind Osia Hyper Retail and Niva Bupa Health pairs trading is to make the combined position market-neutral, meaning the overall market's direction will not affect its win or loss (or potential downside or upside). This can be achieved by designing a pairs trade with two highly correlated stocks or equities that operate in a similar space or sector, making it possible to obtain profits through simple and relatively low-risk investment.

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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 Commodity Channel module to use Commodity Channel Index to analyze current equity momentum.