GMRINFRA - BALKRISIND Pair Analysis

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End-of-day divergence (Standardized residual) is 2.37.
Half life of pair is 5.75.
Real time (live) divergence is calculating using following formula:
[balkrisind_price - (46.3 * gmrinfra_price) - -0.498]/73

(where -0.498 is mean error and 73 is standard error)
Technical strength of GMRINFRA is 6.5. (Support & Resistance)
Technical strength of BALKRISIND is 6.9. (Support & Resistance)
Recommendation
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Entry Criterion: Take positions when divergence becomes (+/-)2.0. And exit positions when divergence becomes (+/-)0.0.
Stop Loss: Put your stop loss when divergence becomes more than 3.0 or less than -3.0. We suggest you always use stop losses.
Note: When you trade in futures, keep in mind the expiry date of futures as divergence might not end before expiry date.
Click here to see all recommendations for pair gmrinfra-balkrisind.
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How to choose pairs?
Choose stocks from same sector/subsector.
Use stock with large market capitalization as first stock.

Charts

GMRINFRA Futures - NSE
Expiry Date Close Price Open Interest Number of Trades No of Contracts Underlying Closing Price
February 27, 2020 23.7 177705000.0 1246.0 1246.0 23.65
March 26, 2020 23.9 21510000.0 457.0 457.0 23.65
April 30, 2020 23.2 225000.0 0.0 0.0 23.65
Lot size: 45000.

BALKRISIND Futures - NSE

Expiry Date Close Price Open Interest Number of Trades No of Contracts Underlying Closing Price
February 27, 2020 1254.4 1863200.0 3556.0 3556.0 1266.7
March 26, 2020 1251.2 157600.0 316.0 316.0 1266.7
April 30, 2020 1248.55 800.0 1.0 1.0 1266.7
Lot size: 800.
Click here for backtesting results.

GMRINFRA-BALKRISIND Analysis with different time frames and thresholds

Time Frame 3months, Entry Threshold 1.5, Stop Loss Threshold 2, Total Profit 123533.330301
Time Frame 3months, Entry Threshold 2, Stop Loss Threshold 3, Total Profit 112798.403677
Time Frame 3months, Entry Threshold 2, Stop Loss Threshold 2.5, Total Profit 106848.662985
Time Frame 3months, Entry Threshold 1.5, Stop Loss Threshold 2.5, Total Profit 79457.697191
Time Frame 1month, Entry Threshold 1.5, Stop Loss Threshold 2.5, Total Profit 66274.9405318

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