Correlation Between Amata Public and Jasmine Telecom
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By analyzing existing cross correlation between Amata Public and Jasmine Telecom Systems, you can compare the effects of market volatilities on Amata Public and Jasmine Telecom 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 Jasmine Telecom. Check out your portfolio center. Please also check ongoing floating volatility patterns of Amata Public and Jasmine Telecom.
Diversification Opportunities for Amata Public and Jasmine Telecom
0.2 | Correlation Coefficient |
Modest diversification
The 3 months correlation between Amata and Jasmine is 0.2. Overlapping area represents the amount of risk that can be diversified away by holding Amata Public and Jasmine Telecom Systems in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Jasmine Telecom Systems 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 Jasmine Telecom. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Jasmine Telecom Systems has no effect on the direction of Amata Public i.e., Amata Public and Jasmine Telecom go up and down completely randomly.
Pair Corralation between Amata Public and Jasmine Telecom
Assuming the 90 days trading horizon Amata Public is expected to generate 84.6 times more return on investment than Jasmine Telecom. However, Amata Public is 84.6 times more volatile than Jasmine Telecom Systems. It trades about 0.22 of its potential returns per unit of risk. Jasmine Telecom Systems is currently generating about -0.11 per unit of risk. If you would invest 2,270 in Amata Public on September 2, 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 | Very Weak |
| Accuracy | 77.27% |
| Values | Daily Returns |
Amata Public vs. Jasmine Telecom Systems
Performance |
| Timeline |
| Amata Public |
| Jasmine Telecom Systems |
Amata Public and Jasmine Telecom Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Amata Public and Jasmine Telecom
The main advantage of trading using opposite Amata Public and Jasmine Telecom positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Amata Public position performs unexpectedly, Jasmine Telecom 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 Jasmine Telecom will offset losses from the drop in Jasmine Telecom's long position.| Amata Public vs. KT Medical Service | Amata Public vs. 3BB INTERNET INFRASTRUCTURE | Amata Public vs. Bangkok Dusit Medical | Amata Public vs. Asia Medical Agricultural |
| Jasmine Telecom vs. AP Public | Jasmine Telecom vs. Jasmine International Public | Jasmine Telecom vs. Asia Plus Group | Jasmine Telecom vs. Bangchak 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 Portfolio Analyzer module to portfolio analysis module that provides access to portfolio diagnostics and optimization engine.
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