Correlation Between Uniinfo Telecom and Sportking India

Can any of the company-specific risk be diversified away by investing in both Uniinfo Telecom and Sportking 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 Uniinfo Telecom and Sportking India into the same portfolio, which is an essential part of the fundamental portfolio management process.

By analyzing existing cross correlation between Uniinfo Telecom Services and Sportking India Limited, you can compare the effects of market volatilities on Uniinfo Telecom and Sportking 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 Uniinfo Telecom with a short position of Sportking India. Check out your portfolio center. Please also check ongoing floating volatility patterns of Uniinfo Telecom and Sportking India.

Diversification Opportunities for Uniinfo Telecom and Sportking India

0.39

Correlation Coefficient

Uniinfo Telecom  Sportking India

Weak diversification

The 3 months correlation between Uniinfo and Sportking is 0.39. Overlapping area represents the amount of risk that can be diversified away by holding Uniinfo Telecom Services and Sportking India Limited in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Sportking India and Uniinfo Telecom 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 Uniinfo Telecom Services are associated (or correlated) with Sportking India. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Sportking India has no effect on the direction of Uniinfo Telecom i.e., Uniinfo Telecom and Sportking India go up and down completely randomly.

Pair Corralation between Uniinfo Telecom and Sportking India

Assuming the 90 days trading horizon Uniinfo Telecom Services is expected to generate 0.87 times more return on investment than Sportking India. However, Uniinfo Telecom Services is 1.15 times less risky than Sportking India. It trades about 0.15 of its potential returns per unit of risk. Sportking India Limited is currently generating about 0.06 per unit of risk. If you would invest  1,535  in Uniinfo Telecom Services on May 6, 2025 and sell it today you would earn a total of  400.00  from holding Uniinfo Telecom Services or generate 26.06% return on investment over 90 days.

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

Uniinfo Telecom Services  vs.  Sportking India Limited

Uniinfo Telecom Services

Risk-Adjusted Performance

Good

Compared to the overall equity markets, risk-adjusted returns on investments in Uniinfo Telecom Services are ranked lower than 11 (%) of all global equities and portfolios over the last 90 days. In spite of very weak basic indicators, Uniinfo Telecom displayed solid returns over the last few months and may actually be approaching a breakup point.

Sportking India

Risk-Adjusted Performance

Weak

Compared to the overall equity markets, risk-adjusted returns on investments in Sportking India Limited are ranked lower than 4 (%) of all global equities and portfolios over the last 90 days. Despite fairly uncertain forward indicators, Sportking India may actually be approaching a critical reversion point that can send shares even higher in September 2025.

Pair Trading with Uniinfo Telecom and Sportking India

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

The idea behind Uniinfo Telecom Services and Sportking India Limited 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.

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 Top Crypto Exchanges module to search and analyze digital assets across top global cryptocurrency exchanges.