Correlation Between Advanced Info and Eastern Star
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By analyzing existing cross correlation between Advanced Info Service and Eastern Star Real, you can compare the effects of market volatilities on Advanced Info and Eastern Star 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 Advanced Info with a short position of Eastern Star. Check out your portfolio center. Please also check ongoing floating volatility patterns of Advanced Info and Eastern Star.
Diversification Opportunities for Advanced Info and Eastern Star
0.64 | Correlation Coefficient |
Poor diversification
The 3 months correlation between Advanced and Eastern is 0.64. Overlapping area represents the amount of risk that can be diversified away by holding Advanced Info Service and Eastern Star Real in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Eastern Star Real and Advanced Info 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 Advanced Info Service are associated (or correlated) with Eastern Star. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Eastern Star Real has no effect on the direction of Advanced Info i.e., Advanced Info and Eastern Star go up and down completely randomly.
Pair Corralation between Advanced Info and Eastern Star
Assuming the 90 days trading horizon Advanced Info Service is expected to generate 104.36 times more return on investment than Eastern Star. However, Advanced Info is 104.36 times more volatile than Eastern Star Real. It trades about 0.19 of its potential returns per unit of risk. Eastern Star Real is currently generating about -0.09 per unit of risk. If you would invest 22,216 in Advanced Info Service on August 28, 2024 and sell it today you would earn a total of 6,684 from holding Advanced Info Service or generate 30.09% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Significant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Advanced Info Service vs. Eastern Star Real
Performance |
| Timeline |
| Advanced Info Service |
| Eastern Star Real |
Advanced Info and Eastern Star Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Advanced Info and Eastern Star
The main advantage of trading using opposite Advanced Info and Eastern Star positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Advanced Info position performs unexpectedly, Eastern Star 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 Eastern Star will offset losses from the drop in Eastern Star's long position.| Advanced Info vs. Hana Microelectronics Public | Advanced Info vs. Ekachai Medical Care | Advanced Info vs. Megachem Public | Advanced Info vs. Diamond Building Products |
| Eastern Star vs. Bangkok Land Public | Eastern Star vs. Everland Public | Eastern Star vs. Amata Public | Eastern Star vs. Chonburi Concrete Product |
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 Top Crypto Exchanges module to search and analyze digital assets across top global cryptocurrency exchanges.
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