Correlation Between Amata Public and Asia Medical
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By analyzing existing cross correlation between Amata Public and Asia Medical Agricultural, you can compare the effects of market volatilities on Amata Public and Asia Medical 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 Amata Public with a short position of Asia Medical. Check out your portfolio center. Please also check ongoing floating volatility patterns of Amata Public and Asia Medical.
Diversification Opportunities for Amata Public and Asia Medical
0.06 | Correlation Coefficient |
Significant diversification
The 3 months correlation between Amata and Asia is 0.06. Overlapping area represents the amount of risk that can be diversified away by holding Amata Public and Asia Medical Agricultural in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Asia Medical Agricultural and Amata Public 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 Amata Public are associated (or correlated) with Asia Medical. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Asia Medical Agricultural has no effect on the direction of Amata Public i.e., Amata Public and Asia Medical go up and down completely randomly.
Pair Corralation between Amata Public and Asia Medical
Assuming the 90 days trading horizon Amata Public is expected to generate 43.08 times more return on investment than Asia Medical. However, Amata Public is 43.08 times more volatile than Asia Medical Agricultural. It trades about 0.1 of its potential returns per unit of risk. Asia Medical Agricultural is currently generating about 0.04 per unit of risk. If you would invest 2,270 in Amata Public on September 4, 2024 and sell it today you would earn a total of 780.00 from holding Amata Public or generate 34.36% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 97.5% |
| Values | Daily Returns |
Amata Public vs. Asia Medical Agricultural
Performance |
| Timeline |
| Amata Public |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Solid
| Asia Medical Agricultural |
Amata Public and Asia Medical Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Amata Public and Asia Medical
The main advantage of trading using opposite Amata Public and Asia Medical positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Amata Public position performs unexpectedly, Asia Medical 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 Asia Medical will offset losses from the drop in Asia Medical's long position.| Amata Public vs. 2S Metal Public | Amata Public vs. Lohakit Metal Public | Amata Public vs. LH Hotel Leasehold | Amata Public vs. Bualuang Office Leasehold |
| Asia Medical vs. Asian Alliance International | Asia Medical vs. International Network System | Asia Medical vs. The Klinique Med | Asia Medical vs. Exotic Food Public |
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 CEOs Directory module to screen CEOs from public companies around the world.
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