Correlation Between Bualuang Office and Amata Public
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By analyzing existing cross correlation between Bualuang Office Leasehold and Amata Public, you can compare the effects of market volatilities on Bualuang Office 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 Bualuang Office with a short position of Amata Public. Check out your portfolio center. Please also check ongoing floating volatility patterns of Bualuang Office and Amata Public.
Diversification Opportunities for Bualuang Office and Amata Public
0.24 | Correlation Coefficient |
Modest diversification
The 3 months correlation between Bualuang and Amata is 0.24. Overlapping area represents the amount of risk that can be diversified away by holding Bualuang Office Leasehold and Amata Public in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Amata Public and Bualuang Office 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 Bualuang Office Leasehold 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 Bualuang Office i.e., Bualuang Office and Amata Public go up and down completely randomly.
Pair Corralation between Bualuang Office and Amata Public
Assuming the 90 days trading horizon Bualuang Office Leasehold is expected to under-perform the Amata Public. But the stock apears to be less risky and, when comparing its historical volatility, Bualuang Office Leasehold is 14.03 times less risky than Amata Public. The stock trades about -0.06 of its potential returns per unit of risk. The Amata Public is currently generating about 0.12 of returns per unit of risk over similar time horizon. If you would invest 2,270 in Amata Public on September 12, 2024 and sell it today you would earn a total of 0.00 from holding Amata Public or generate 0.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 99.17% |
| Values | Daily Returns |
Bualuang Office Leasehold vs. Amata Public
Performance |
| Timeline |
| Bualuang Office Leasehold |
| Amata Public |
Bualuang Office and Amata Public Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Bualuang Office and Amata Public
The main advantage of trading using opposite Bualuang Office and Amata Public positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Bualuang Office 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.| Bualuang Office vs. Siri Prime Office | Bualuang Office vs. Quality Houses Property | Bualuang Office vs. The Erawan Group | Bualuang Office vs. Jay Mart Public |
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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.
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