Correlation Between ATP 30 and Amata Public
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By analyzing existing cross correlation between ATP 30 Public and Amata Public, you can compare the effects of market volatilities on ATP 30 and Amata 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 ATP 30 with a short position of Amata Public. Check out your portfolio center. Please also check ongoing floating volatility patterns of ATP 30 and Amata Public.
Diversification Opportunities for ATP 30 and Amata Public
0.02 | Correlation Coefficient |
Significant diversification
The 3 months correlation between ATP and Amata is 0.02. Overlapping area represents the amount of risk that can be diversified away by holding ATP 30 Public and Amata Public in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Amata Public and ATP 30 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 ATP 30 Public are associated (or correlated) with Amata Public. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Amata Public has no effect on the direction of ATP 30 i.e., ATP 30 and Amata Public go up and down completely randomly.
Pair Corralation between ATP 30 and Amata Public
Assuming the 90 days trading horizon ATP 30 Public is expected to generate 1.09 times more return on investment than Amata Public. However, ATP 30 is 1.09 times more volatile than Amata Public. It trades about 0.04 of its potential returns per unit of risk. Amata Public is currently generating about -0.21 per unit of risk. If you would invest 88.00 in ATP 30 Public on December 26, 2024 and sell it today you would earn a total of 1.00 from holding ATP 30 Public or generate 1.14% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
ATP 30 Public vs. Amata Public
Performance |
| Timeline |
| ATP 30 Public |
| Amata Public |
ATP 30 and Amata Public Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with ATP 30 and Amata Public
The main advantage of trading using opposite ATP 30 and Amata Public positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if ATP 30 position performs unexpectedly, Amata 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 Amata Public will offset losses from the drop in Amata Public's long position.| ATP 30 vs. Dynasty Ceramic Public | ATP 30 vs. Filter Vision Public | ATP 30 vs. East Coast Furnitech | ATP 30 vs. Asia Green Energy |
| Amata Public vs. Nova Organic PCL | Amata Public vs. City Sports and | Amata Public vs. Warrix Sport PCL | Amata Public vs. Thaifoods Group 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 Options Analysis module to analyze and evaluate options and option chains as a potential hedge for your portfolios.
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