Correlation Between 3BB INTERNET and Grande Hospitality
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By analyzing existing cross correlation between 3BB INTERNET INFRASTRUCTURE and Grande Hospitality Real, you can compare the effects of market volatilities on 3BB INTERNET and Grande Hospitality 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 3BB INTERNET with a short position of Grande Hospitality. Check out your portfolio center. Please also check ongoing floating volatility patterns of 3BB INTERNET and Grande Hospitality.
Diversification Opportunities for 3BB INTERNET and Grande Hospitality
0.55 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between 3BB and Grande is 0.55. Overlapping area represents the amount of risk that can be diversified away by holding 3BB INTERNET INFRASTRUCTURE and Grande Hospitality Real in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Grande Hospitality Real and 3BB INTERNET 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 3BB INTERNET INFRASTRUCTURE are associated (or correlated) with Grande Hospitality. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Grande Hospitality Real has no effect on the direction of 3BB INTERNET i.e., 3BB INTERNET and Grande Hospitality go up and down completely randomly.
Pair Corralation between 3BB INTERNET and Grande Hospitality
Assuming the 90 days trading horizon 3BB INTERNET INFRASTRUCTURE is expected to under-perform the Grande Hospitality. In addition to that, 3BB INTERNET is 1.16 times more volatile than Grande Hospitality Real. It trades about -0.02 of its total potential returns per unit of risk. Grande Hospitality Real is currently generating about 0.0 per unit of volatility. If you would invest 693.00 in Grande Hospitality Real on September 12, 2024 and sell it today you would lose (13.00) from holding Grande Hospitality Real or give up 1.88% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 99.79% |
| Values | Daily Returns |
3BB INTERNET INFRASTRUCTURE vs. Grande Hospitality Real
Performance |
| Timeline |
| 3BB INTERNET INFRAST |
| Grande Hospitality Real |
3BB INTERNET and Grande Hospitality Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with 3BB INTERNET and Grande Hospitality
The main advantage of trading using opposite 3BB INTERNET and Grande Hospitality positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if 3BB INTERNET position performs unexpectedly, Grande Hospitality 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 Grande Hospitality will offset losses from the drop in Grande Hospitality's long position.| 3BB INTERNET vs. Delta Electronics Public | 3BB INTERNET vs. Delta Electronics Public | 3BB INTERNET vs. Airports of Thailand | 3BB INTERNET vs. Airports of Thailand |
| Grande Hospitality vs. Taokaenoi Food Marketing | Grande Hospitality vs. Asia Medical Agricultural | Grande Hospitality vs. Quality Construction Products | Grande Hospitality vs. 3BB INTERNET INFRASTRUCTURE |
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 Money Managers module to screen money managers from public funds and ETFs managed around the world.
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