Correlation Between Astar and Future Park
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By analyzing existing cross correlation between Astar and Future Park Leasehold, you can compare the effects of market volatilities on Astar and Future Park 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 Astar with a short position of Future Park. Check out your portfolio center. Please also check ongoing floating volatility patterns of Astar and Future Park.
Diversification Opportunities for Astar and Future Park
0.17 | Correlation Coefficient |
Average diversification
The 3 months correlation between Astar and Future is 0.17. Overlapping area represents the amount of risk that can be diversified away by holding Astar and Future Park Leasehold in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Future Park Leasehold and Astar 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 Astar are associated (or correlated) with Future Park. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Future Park Leasehold has no effect on the direction of Astar i.e., Astar and Future Park go up and down completely randomly.
Pair Corralation between Astar and Future Park
Assuming the 90 days trading horizon Astar is expected to generate 123.19 times less return on investment than Future Park. But when comparing it to its historical volatility, Astar is 14.69 times less risky than Future Park. It trades about 0.01 of its potential returns per unit of risk. Future Park Leasehold is currently generating about 0.11 of returns per unit of risk over similar time horizon. If you would invest 1,500 in Future Park Leasehold on November 2, 2024 and sell it today you would lose (1,500) from holding Future Park Leasehold or give up 100.0% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 63.14% |
| Values | Daily Returns |
Astar vs. Future Park Leasehold
Performance |
| Timeline |
| Astar |
| Future Park Leasehold |
Astar and Future Park Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Astar and Future Park
The main advantage of trading using opposite Astar and Future Park positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Astar position performs unexpectedly, Future Park 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 Future Park will offset losses from the drop in Future Park's long position.The idea behind Astar and Future Park Leasehold pairs trading is to make the combined position market-neutral, meaning the overall market's direction will not affect its win or loss (or potential downside or upside). This can be achieved by designing a pairs trade with two highly correlated stocks or equities that operate in a similar space or sector, making it possible to obtain profits through simple and relatively low-risk investment.| Future Park vs. Advanced Information Technology | Future Park vs. Asia Medical Agricultural | Future Park vs. Bhiraj Office Leasehold | Future Park vs. PTT OIL RETAIL |
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 Stock Screener module to find equities using a custom stock filter or screen asymmetry in trading patterns, price, volume, or investment outlook..
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