Correlation Between Siamgas and Sun Life
Can any of the company-specific risk be diversified away by investing in both Siamgas and Sun Life 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 Siamgas and Sun Life into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Siamgas And Petrochemicals and Sun Life Financial, you can compare the effects of market volatilities on Siamgas and Sun Life 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 Siamgas with a short position of Sun Life. Check out your portfolio center. Please also check ongoing floating volatility patterns of Siamgas and Sun Life.
Diversification Opportunities for Siamgas and Sun Life
Modest diversification
The 3 months correlation between Siamgas and Sun is 0.28. Overlapping area represents the amount of risk that can be diversified away by holding Siamgas And Petrochemicals and Sun Life Financial in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Sun Life Financial and Siamgas 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 Siamgas And Petrochemicals are associated (or correlated) with Sun Life. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Sun Life Financial has no effect on the direction of Siamgas i.e., Siamgas and Sun Life go up and down completely randomly.
Pair Corralation between Siamgas and Sun Life
If you would invest 18.00 in Siamgas And Petrochemicals on October 24, 2024 and sell it today you would earn a total of 0.00 from holding Siamgas And Petrochemicals or generate 0.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Siamgas And Petrochemicals vs. Sun Life Financial
Performance |
| Timeline |
| Siamgas And Petroche |
| Sun Life Financial |
Siamgas and Sun Life Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Siamgas and Sun Life
The main advantage of trading using opposite Siamgas and Sun Life positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Siamgas position performs unexpectedly, Sun Life 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 Sun Life will offset losses from the drop in Sun Life's long position.| Siamgas vs. Liberty Broadband | Siamgas vs. TEXAS ROADHOUSE | Siamgas vs. VARIOUS EATERIES LS | Siamgas vs. BII Railway Transportation |
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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 Sync Your Broker module to sync your existing holdings, watchlists, positions or portfolios from thousands of online brokerage services, banks, investment account aggregators and robo-advisors..
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