Correlation Between Asset Five and Supalai Public
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By analyzing existing cross correlation between Asset Five Group and Supalai Public, you can compare the effects of market volatilities on Asset Five and Supalai Public 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 Asset Five with a short position of Supalai Public. Check out your portfolio center. Please also check ongoing floating volatility patterns of Asset Five and Supalai Public.
Diversification Opportunities for Asset Five and Supalai Public
-0.01 | Correlation Coefficient |
Good diversification
The 3 months correlation between Asset and Supalai is -0.01. Overlapping area represents the amount of risk that can be diversified away by holding Asset Five Group and Supalai Public in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Supalai Public and Asset Five 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 Asset Five Group are associated (or correlated) with Supalai Public. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Supalai Public has no effect on the direction of Asset Five i.e., Asset Five and Supalai Public go up and down completely randomly.
Pair Corralation between Asset Five and Supalai Public
Assuming the 90 days horizon Asset Five Group is expected to generate 1.43 times more return on investment than Supalai Public. However, Asset Five is 1.43 times more volatile than Supalai Public. It trades about 0.04 of its potential returns per unit of risk. Supalai Public is currently generating about -0.2 per unit of risk. If you would invest 268.00 in Asset Five Group on September 1, 2024 and sell it today you would earn a total of 4.00 from holding Asset Five Group or generate 1.49% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 95.65% |
| Values | Daily Returns |
Asset Five Group vs. Supalai Public
Performance |
| Timeline |
| Asset Five Group |
| Supalai Public |
Asset Five and Supalai Public Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Asset Five and Supalai Public
The main advantage of trading using opposite Asset Five and Supalai Public positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Asset Five position performs unexpectedly, Supalai Public 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 Supalai Public will offset losses from the drop in Supalai Public's long position.| Asset Five vs. Frasers Property Public | Asset Five vs. PINTHONG INDUSTRIAL PARK | Asset Five vs. Arinsiri Land Public |
| Supalai Public vs. Frasers Property Public | Supalai Public vs. PINTHONG INDUSTRIAL PARK | Supalai Public vs. Arinsiri Land Public |
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 Sectors module to list of equity sectors categorizing publicly traded companies based on their primary business activities.
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