Correlation Between AAPICO Hitech and INET Leasehold
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By analyzing existing cross correlation between AAPICO Hitech Public and INET Leasehold REIT, you can compare the effects of market volatilities on AAPICO Hitech and INET Leasehold 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 AAPICO Hitech with a short position of INET Leasehold. Check out your portfolio center. Please also check ongoing floating volatility patterns of AAPICO Hitech and INET Leasehold.
Diversification Opportunities for AAPICO Hitech and INET Leasehold
0.01 | Correlation Coefficient |
Significant diversification
The 3 months correlation between AAPICO and INET is 0.01. Overlapping area represents the amount of risk that can be diversified away by holding AAPICO Hitech Public and INET Leasehold REIT in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on INET Leasehold REIT and AAPICO Hitech 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 AAPICO Hitech Public are associated (or correlated) with INET Leasehold. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of INET Leasehold REIT has no effect on the direction of AAPICO Hitech i.e., AAPICO Hitech and INET Leasehold go up and down completely randomly.
Pair Corralation between AAPICO Hitech and INET Leasehold
Assuming the 90 days horizon AAPICO Hitech Public is expected to under-perform the INET Leasehold. In addition to that, AAPICO Hitech is 1.99 times more volatile than INET Leasehold REIT. It trades about -0.07 of its total potential returns per unit of risk. INET Leasehold REIT is currently generating about 0.19 per unit of volatility. If you would invest 845.00 in INET Leasehold REIT on November 27, 2024 and sell it today you would earn a total of 30.00 from holding INET Leasehold REIT or generate 3.55% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
AAPICO Hitech Public vs. INET Leasehold REIT
Performance |
| Timeline |
| AAPICO Hitech Public |
| INET Leasehold REIT |
AAPICO Hitech and INET Leasehold Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with AAPICO Hitech and INET Leasehold
The main advantage of trading using opposite AAPICO Hitech and INET Leasehold positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if AAPICO Hitech position performs unexpectedly, INET Leasehold 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 INET Leasehold will offset losses from the drop in INET Leasehold's long position.| AAPICO Hitech vs. S Hotels and | AAPICO Hitech vs. Asia Hotel Public | AAPICO Hitech vs. MFC Asset Management | AAPICO Hitech vs. Laguna Resorts Hotels |
| INET Leasehold vs. Impact Growth REIT | INET Leasehold vs. Internet Thailand Public | INET Leasehold vs. CPN Retail Growth | INET Leasehold vs. Golden Ventures Leasehold |
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 Insider Screener module to find insiders across different sectors to evaluate their impact on performance.
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