Correlation Between ALL ENERGY and Delta Electronics
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By analyzing existing cross correlation between ALL ENERGY UTILITIES and Delta Electronics Public, you can compare the effects of market volatilities on ALL ENERGY and Delta Electronics 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 ALL ENERGY with a short position of Delta Electronics. Check out your portfolio center. Please also check ongoing floating volatility patterns of ALL ENERGY and Delta Electronics.
Diversification Opportunities for ALL ENERGY and Delta Electronics
-0.16 | Correlation Coefficient |
Good diversification
The 3 months correlation between ALL and Delta is -0.16. Overlapping area represents the amount of risk that can be diversified away by holding ALL ENERGY UTILITIES and Delta Electronics Public in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Delta Electronics Public and ALL ENERGY 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 ALL ENERGY UTILITIES are associated (or correlated) with Delta Electronics. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Delta Electronics Public has no effect on the direction of ALL ENERGY i.e., ALL ENERGY and Delta Electronics go up and down completely randomly.
Pair Corralation between ALL ENERGY and Delta Electronics
Assuming the 90 days horizon ALL ENERGY UTILITIES is expected to under-perform the Delta Electronics. In addition to that, ALL ENERGY is 1.33 times more volatile than Delta Electronics Public. It trades about -0.05 of its total potential returns per unit of risk. Delta Electronics Public is currently generating about 0.05 per unit of volatility. If you would invest 9,875 in Delta Electronics Public on August 31, 2024 and sell it today you would earn a total of 5,275 from holding Delta Electronics Public or generate 53.42% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 99.73% |
| Values | Daily Returns |
ALL ENERGY UTILITIES vs. Delta Electronics Public
Performance |
| Timeline |
| ALL ENERGY UTILITIES |
| Delta Electronics Public |
ALL ENERGY and Delta Electronics Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with ALL ENERGY and Delta Electronics
The main advantage of trading using opposite ALL ENERGY and Delta Electronics positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if ALL ENERGY position performs unexpectedly, Delta Electronics 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 Delta Electronics will offset losses from the drop in Delta Electronics' long position.| ALL ENERGY vs. AP Public | ALL ENERGY vs. TRC Construction Public | ALL ENERGY vs. Bangkok Expressway and | ALL ENERGY vs. Lohakit Metal Public |
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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 Stock Tickers module to use high-impact, comprehensive, and customizable stock tickers that can be easily integrated to any websites.
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