Correlation Between Amata Public and Property Perfect
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By analyzing existing cross correlation between Amata Public and Property Perfect Public, you can compare the effects of market volatilities on Amata Public and Property Perfect 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 Property Perfect. Check out your portfolio center. Please also check ongoing floating volatility patterns of Amata Public and Property Perfect.
Diversification Opportunities for Amata Public and Property Perfect
-0.06 | Correlation Coefficient |
Good diversification
The 3 months correlation between Amata and Property is -0.06. Overlapping area represents the amount of risk that can be diversified away by holding Amata Public and Property Perfect Public in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Property Perfect 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 Property Perfect. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Property Perfect Public has no effect on the direction of Amata Public i.e., Amata Public and Property Perfect go up and down completely randomly.
Pair Corralation between Amata Public and Property Perfect
Assuming the 90 days trading horizon Amata Public is expected to generate 1.41 times more return on investment than Property Perfect. However, Amata Public is 1.41 times more volatile than Property Perfect Public. It trades about 0.06 of its potential returns per unit of risk. Property Perfect Public is currently generating about 0.04 per unit of risk. If you would invest 2,013 in Amata Public on September 14, 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 | 99.38% |
| Values | Daily Returns |
Amata Public vs. Property Perfect Public
Performance |
| Timeline |
| Amata Public |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
OK
| Property Perfect Public |
Amata Public and Property Perfect Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Amata Public and Property Perfect
The main advantage of trading using opposite Amata Public and Property Perfect positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Amata Public position performs unexpectedly, Property Perfect 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 Property Perfect will offset losses from the drop in Property Perfect's long position.| Amata Public vs. Property Perfect Public | Amata Public vs. The Erawan Group | Amata Public vs. Jay Mart Public | Amata Public vs. Airports of Thailand |
| Property Perfect vs. Wave Entertainment Public | Property Perfect vs. Vibhavadi Medical Center | Property Perfect vs. VGI Public | Property Perfect vs. WHA 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 Balance Of Power module to check stock momentum by analyzing Balance Of Power indicator and other technical ratios.
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