Correlation Between FRASERS PROPERTY and GuocoLand
Can any of the company-specific risk be diversified away by investing in both FRASERS PROPERTY and GuocoLand 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 FRASERS PROPERTY and GuocoLand into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between FRASERS PROPERTY and GuocoLand Limited, you can compare the effects of market volatilities on FRASERS PROPERTY and GuocoLand 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 FRASERS PROPERTY with a short position of GuocoLand. Check out your portfolio center. Please also check ongoing floating volatility patterns of FRASERS PROPERTY and GuocoLand.
Diversification Opportunities for FRASERS PROPERTY and GuocoLand
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between FRASERS and GuocoLand is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding FRASERS PROPERTY and GuocoLand Limited in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on GuocoLand Limited and FRASERS PROPERTY 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 FRASERS PROPERTY are associated (or correlated) with GuocoLand. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of GuocoLand Limited has no effect on the direction of FRASERS PROPERTY i.e., FRASERS PROPERTY and GuocoLand go up and down completely randomly.
Pair Corralation between FRASERS PROPERTY and GuocoLand
If you would invest 101.00 in GuocoLand Limited on August 29, 2024 and sell it today you would earn a total of 5.00 from holding GuocoLand Limited or generate 4.95% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 0.0% |
| Values | Daily Returns |
FRASERS PROPERTY vs. GuocoLand Limited
Performance |
| Timeline |
| FRASERS PROPERTY |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Good
| GuocoLand Limited |
FRASERS PROPERTY and GuocoLand Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with FRASERS PROPERTY and GuocoLand
The main advantage of trading using opposite FRASERS PROPERTY and GuocoLand positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if FRASERS PROPERTY position performs unexpectedly, GuocoLand 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 GuocoLand will offset losses from the drop in GuocoLand's long position.| FRASERS PROPERTY vs. Sumitomo Mitsui Construction | FRASERS PROPERTY vs. WIMFARM SA EO | FRASERS PROPERTY vs. PACIFIC ONLINE | FRASERS PROPERTY vs. CarsalesCom |
| GuocoLand vs. Microbot Medical | GuocoLand vs. BURLINGTON STORES | GuocoLand vs. JIAHUA STORES | GuocoLand vs. ONWARD MEDICAL BV |
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 Stock Screener module to find equities using a custom stock filter or screen asymmetry in trading patterns, price, volume, or investment outlook..
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