Correlation Between Asia Sermkij and Bhiraj Office
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By analyzing existing cross correlation between Asia Sermkij Leasing and Bhiraj Office Leasehold, you can compare the effects of market volatilities on Asia Sermkij and Bhiraj Office 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 Asia Sermkij with a short position of Bhiraj Office. Check out your portfolio center. Please also check ongoing floating volatility patterns of Asia Sermkij and Bhiraj Office.
Diversification Opportunities for Asia Sermkij and Bhiraj Office
-0.28 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Asia and Bhiraj is -0.28. Overlapping area represents the amount of risk that can be diversified away by holding Asia Sermkij Leasing and Bhiraj Office Leasehold in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Bhiraj Office Leasehold and Asia Sermkij 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 Asia Sermkij Leasing are associated (or correlated) with Bhiraj Office. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Bhiraj Office Leasehold has no effect on the direction of Asia Sermkij i.e., Asia Sermkij and Bhiraj Office go up and down completely randomly.
Pair Corralation between Asia Sermkij and Bhiraj Office
Assuming the 90 days trading horizon Asia Sermkij Leasing is expected to under-perform the Bhiraj Office. In addition to that, Asia Sermkij is 1.61 times more volatile than Bhiraj Office Leasehold. It trades about -0.32 of its total potential returns per unit of risk. Bhiraj Office Leasehold is currently generating about 0.08 per unit of volatility. If you would invest 490.00 in Bhiraj Office Leasehold on August 28, 2024 and sell it today you would earn a total of 10.00 from holding Bhiraj Office Leasehold or generate 2.04% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 95.45% |
| Values | Daily Returns |
Asia Sermkij Leasing vs. Bhiraj Office Leasehold
Performance |
| Timeline |
| Asia Sermkij Leasing |
| Bhiraj Office Leasehold |
Asia Sermkij and Bhiraj Office Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Asia Sermkij and Bhiraj Office
The main advantage of trading using opposite Asia Sermkij and Bhiraj Office positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Asia Sermkij position performs unexpectedly, Bhiraj Office 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 Bhiraj Office will offset losses from the drop in Bhiraj Office's long position.| Asia Sermkij vs. AP Public | Asia Sermkij vs. Kiatnakin Phatra Bank | Asia Sermkij vs. TISCO Financial Group | Asia Sermkij vs. Carabao Group Public |
| Bhiraj Office vs. Delta Electronics Public | Bhiraj Office vs. Delta Electronics Public | Bhiraj Office vs. Airports of Thailand | Bhiraj Office vs. Airports of Thailand |
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 Volatility Analysis module to get historical volatility and risk analysis based on latest market data.
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