CONCOR - AXISBANK Pair Analysis

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End-of-day divergence (Standardized residual) is -1.33.
Half life of pair is 19.6.
Real time (live) divergence is calculating using following formula:
[axisbank_price - (0.423 * concor_price) - 2.52]/37.2

(where 2.52 is mean error and 37.2 is standard error)
Technical strength of CONCOR is 4.5. (Support & Resistance)
Technical strength of AXISBANK is 4.5. (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 2.5 or less than -2.5. 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 concor-axisbank.
Analyse any other pair:

How to choose pairs?
Choose stocks from same sector/subsector.
Use stock with large market capitalization as first stock.
Here is a list of pairs chosen analytically.

Charts

CONCOR Futures - NSE
Expiry Date Close Price Open Interest Number of Trades No of Contracts Underlying Closing Price
September 28, 2017 1309.4 1358125.0 1079.0 1186.0 1306.6
October 26, 2017 1315.95 60000.0 140.0 149.0 1306.6
Lot size: 625.0.

AXISBANK Futures - NSE

Expiry Date Close Price Open Interest Number of Trades No of Contracts Underlying Closing Price
September 28, 2017 505.45 29668800.0 6749.0 7487.0 505.3
October 26, 2017 507.95 3943200.0 1048.0 1216.0 505.3
November 30, 2017 510.0 139200.0 16.0 16.0 505.3
Lot size: 1200.0.
Click here for backtesting results.

CONCOR-AXISBANK Analysis with different time frames and thresholds

Time Frame 3months, Entry Threshold 1.5, Stop Loss Threshold 2, Total Profit 137757.589702
Time Frame 3months, Entry Threshold 1.5, Stop Loss Threshold 2.5, Total Profit 126330.625487
Time Frame 6months, Entry Threshold 2, Stop Loss Threshold 2.5, Total Profit 93488.6974612
Time Frame 6months, Entry Threshold 2, Stop Loss Threshold 3, Total Profit 86192.5056377
Time Frame 3months, Entry Threshold 2, Stop Loss Threshold 2.5, Total Profit 79343.5475089