Correlation Between AEON Thana and Grande Hospitality
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By analyzing existing cross correlation between AEON Thana Sinsap and Grande Hospitality Real, you can compare the effects of market volatilities on AEON Thana 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 AEON Thana with a short position of Grande Hospitality. Check out your portfolio center. Please also check ongoing floating volatility patterns of AEON Thana and Grande Hospitality.
Diversification Opportunities for AEON Thana and Grande Hospitality
0.09 | Correlation Coefficient |
Significant diversification
The 3 months correlation between AEON and Grande is 0.09. Overlapping area represents the amount of risk that can be diversified away by holding AEON Thana Sinsap 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 AEON Thana 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 AEON Thana Sinsap 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 AEON Thana i.e., AEON Thana and Grande Hospitality go up and down completely randomly.
Pair Corralation between AEON Thana and Grande Hospitality
Assuming the 90 days trading horizon AEON Thana Sinsap is expected to generate 150.68 times more return on investment than Grande Hospitality. However, AEON Thana is 150.68 times more volatile than Grande Hospitality Real. It trades about 0.14 of its potential returns per unit of risk. Grande Hospitality Real is currently generating about 0.04 per unit of risk. If you would invest 16,575 in AEON Thana Sinsap on September 3, 2024 and sell it today you would lose (4,075) from holding AEON Thana Sinsap or give up 24.59% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 95.97% |
| Values | Daily Returns |
AEON Thana Sinsap vs. Grande Hospitality Real
Performance |
| Timeline |
| AEON Thana Sinsap |
| Grande Hospitality Real |
AEON Thana and Grande Hospitality Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with AEON Thana and Grande Hospitality
The main advantage of trading using opposite AEON Thana and Grande Hospitality positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if AEON Thana 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.| AEON Thana vs. Grande Hospitality Real | AEON Thana vs. Exotic Food Public | AEON Thana vs. Jasmine Telecom Systems | AEON Thana vs. Charoen Pokphand Foods |
| Grande Hospitality vs. Ramkhamhaeng Hospital Public | Grande Hospitality vs. BPS TECHNOLOGY PUBLIC | Grande Hospitality vs. SAF Special Steel | Grande Hospitality vs. S Hotels and |
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 Pattern Recognition module to use different Pattern Recognition models to time the market across multiple global exchanges.
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