Correlation Between Ekarat Engineering and LH Hotel
Specify exactly 2 symbols:
By analyzing existing cross correlation between Ekarat Engineering Public and LH Hotel Leasehold, you can compare the effects of market volatilities on Ekarat Engineering and LH Hotel 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 Ekarat Engineering with a short position of LH Hotel. Check out your portfolio center. Please also check ongoing floating volatility patterns of Ekarat Engineering and LH Hotel.
Diversification Opportunities for Ekarat Engineering and LH Hotel
0.27 | Correlation Coefficient |
Modest diversification
The 3 months correlation between Ekarat and LHHOTEL is 0.27. Overlapping area represents the amount of risk that can be diversified away by holding Ekarat Engineering Public and LH Hotel Leasehold in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on LH Hotel Leasehold and Ekarat Engineering 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 Ekarat Engineering Public are associated (or correlated) with LH Hotel. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of LH Hotel Leasehold has no effect on the direction of Ekarat Engineering i.e., Ekarat Engineering and LH Hotel go up and down completely randomly.
Pair Corralation between Ekarat Engineering and LH Hotel
Assuming the 90 days trading horizon Ekarat Engineering Public is expected to generate 46.02 times more return on investment than LH Hotel. However, Ekarat Engineering is 46.02 times more volatile than LH Hotel Leasehold. It trades about 0.07 of its potential returns per unit of risk. LH Hotel Leasehold is currently generating about 0.03 per unit of risk. If you would invest 95.00 in Ekarat Engineering Public on September 3, 2024 and sell it today you would lose (3.00) from holding Ekarat Engineering Public or give up 3.16% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Ekarat Engineering Public vs. LH Hotel Leasehold
Performance |
| Timeline |
| Ekarat Engineering Public |
| LH Hotel Leasehold |
Ekarat Engineering and LH Hotel Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Ekarat Engineering and LH Hotel
The main advantage of trading using opposite Ekarat Engineering and LH Hotel positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Ekarat Engineering position performs unexpectedly, LH Hotel 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 LH Hotel will offset losses from the drop in LH Hotel's long position.| Ekarat Engineering vs. JD Food PCL | Ekarat Engineering vs. Mena Transport Public | Ekarat Engineering vs. KTBST Mixed Leasehold | Ekarat Engineering vs. Quality Construction Products |
| LH Hotel vs. LH Shopping Centers | LH Hotel vs. Quality Houses Property | LH Hotel vs. Impact Growth REIT | LH Hotel vs. CPN Retail Growth |
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 Fundamental Analysis module to view fundamental data based on most recent published financial statements.
Other Complementary Tools
| Sync Your Broker Sync your existing holdings, watchlists, positions or portfolios from thousands of online brokerage services, banks, investment account aggregators and robo-advisors. | |
| Portfolio Dashboard Portfolio dashboard that provides centralized access to all your investments | |
| Watchlist Optimization Optimize watchlists to build efficient portfolios or rebalance existing positions based on the mean-variance optimization algorithm | |
| Pair Correlation Compare performance and examine fundamental relationship between any two equity instruments | |
| FinTech Suite Use AI to screen and filter profitable investment opportunities |