Correlation Between Amata Public and AP Public
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By analyzing existing cross correlation between Amata Public and AP Public, you can compare the effects of market volatilities on Amata Public and AP Public 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 AP Public. Check out your portfolio center. Please also check ongoing floating volatility patterns of Amata Public and AP Public.
Diversification Opportunities for Amata Public and AP Public
-0.02 | Correlation Coefficient |
Good diversification
The 3 months correlation between Amata and AP Public is -0.02. Overlapping area represents the amount of risk that can be diversified away by holding Amata Public and AP Public in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on AP Public 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 AP Public. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of AP Public has no effect on the direction of Amata Public i.e., Amata Public and AP Public go up and down completely randomly.
Pair Corralation between Amata Public and AP Public
Assuming the 90 days trading horizon Amata Public is expected to generate 40.19 times more return on investment than AP Public. However, Amata Public is 40.19 times more volatile than AP Public. It trades about 0.06 of its potential returns per unit of risk. AP Public is currently generating about -0.01 per unit of risk. If you would invest 2,013 in Amata Public on September 13, 2024 and sell it today you would earn a total of 257.00 from holding Amata Public or generate 12.77% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 99.58% |
| Values | Daily Returns |
Amata Public vs. AP Public
Performance |
| Timeline |
| Amata Public |
| AP Public |
Amata Public and AP Public Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Amata Public and AP Public
The main advantage of trading using opposite Amata Public and AP Public positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Amata Public position performs unexpectedly, AP Public 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 AP Public will offset losses from the drop in AP Public's long position.| Amata Public vs. LH Hotel Leasehold | Amata Public vs. Digital Telecommunications Infrastructure | Amata Public vs. MFC Industrial Investment | Amata Public vs. Global Green Chemicals |
| AP Public vs. Land and Houses | AP Public vs. Quality Houses Public | AP Public vs. Bangkok Bank Public | AP Public vs. Siri Prime Office |
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 Share Portfolio module to track or share privately all of your investments from the convenience of any device.
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