Correlation Between Amata Public and WHA Public
Specify exactly 2 symbols:
By analyzing existing cross correlation between Amata Public and WHA Public, you can compare the effects of market volatilities on Amata Public and WHA 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 WHA Public. Check out your portfolio center. Please also check ongoing floating volatility patterns of Amata Public and WHA Public.
Diversification Opportunities for Amata Public and WHA Public
-0.05 | Correlation Coefficient |
Good diversification
The 3 months correlation between Amata and WHA is -0.05. Overlapping area represents the amount of risk that can be diversified away by holding Amata Public and WHA Public in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on WHA 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 WHA Public. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of WHA Public has no effect on the direction of Amata Public i.e., Amata Public and WHA Public go up and down completely randomly.
Pair Corralation between Amata Public and WHA Public
Assuming the 90 days trading horizon Amata Public is expected to generate 100.1 times more return on investment than WHA Public. However, Amata Public is 100.1 times more volatile than WHA Public. It trades about 0.18 of its potential returns per unit of risk. WHA Public is currently generating about 0.11 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 Against |
| Strength | Insignificant |
| Accuracy | 92.86% |
| Values | Daily Returns |
Amata Public vs. WHA Public
Performance |
| Timeline |
| Amata Public |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Good
| WHA Public |
Amata Public and WHA Public Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Amata Public and WHA Public
The main advantage of trading using opposite Amata Public and WHA Public positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Amata Public position performs unexpectedly, WHA 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 WHA Public will offset losses from the drop in WHA Public's long position.| Amata Public vs. Techno Medical Public | Amata Public vs. Simat Technologies Public | Amata Public vs. Eastern Technical Engineering | Amata Public vs. DOD Biotech Public |
| WHA Public vs. Bangkok Dusit Medical | WHA Public vs. Land and Houses | WHA Public vs. BTS Group Holdings | WHA Public vs. Bangkok Expressway and |
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 Headlines Timeline module to stay connected to all market stories and filter out noise. Drill down to analyze hype elasticity.
Other Complementary Tools
| Portfolio Manager State of the art Portfolio Manager to monitor and improve performance of your invested capital | |
| Sign In To Macroaxis Sign in to explore Macroaxis' wealth optimization platform and fintech modules | |
| Price Ceiling Movement Calculate and plot Price Ceiling Movement for different equity instruments | |
| Idea Analyzer Analyze all characteristics, volatility and risk-adjusted return of Macroaxis ideas | |
| Stocks Directory Find actively traded stocks across global markets |