Correlation Between Bualuang Office and Grande Hospitality
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By analyzing existing cross correlation between Bualuang Office Leasehold and Grande Hospitality Real, you can compare the effects of market volatilities on Bualuang Office and Grande Hospitality 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 Grande Hospitality. Check out your portfolio center. Please also check ongoing floating volatility patterns of Bualuang Office and Grande Hospitality.
Diversification Opportunities for Bualuang Office and Grande Hospitality
0.38 | Correlation Coefficient |
Weak diversification
The 3 months correlation between Bualuang and Grande is 0.38. Overlapping area represents the amount of risk that can be diversified away by holding Bualuang Office Leasehold and Grande Hospitality Real in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Grande Hospitality Real 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 Grande Hospitality. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Grande Hospitality Real has no effect on the direction of Bualuang Office i.e., Bualuang Office and Grande Hospitality go up and down completely randomly.
Pair Corralation between Bualuang Office and Grande Hospitality
Assuming the 90 days trading horizon Bualuang Office Leasehold is expected to under-perform the Grande Hospitality. In addition to that, Bualuang Office is 1.21 times more volatile than Grande Hospitality Real. It trades about -0.06 of its total potential returns per unit of risk. Grande Hospitality Real is currently generating about -0.01 per unit of volatility. If you would invest 685.00 in Grande Hospitality Real on September 3, 2024 and sell it today you would lose (35.00) from holding Grande Hospitality Real or give up 5.11% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 95.08% |
| Values | Daily Returns |
Bualuang Office Leasehold vs. Grande Hospitality Real
Performance |
| Timeline |
| Bualuang Office Leasehold |
| Grande Hospitality Real |
Bualuang Office and Grande Hospitality Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Bualuang Office and Grande Hospitality
The main advantage of trading using opposite Bualuang Office and Grande Hospitality positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Bualuang Office position performs unexpectedly, Grande Hospitality 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 Grande Hospitality will offset losses from the drop in Grande Hospitality's long position.| Bualuang Office vs. Grande Hospitality Real | Bualuang Office vs. BA Airport Leasehold | Bualuang Office vs. CENTRAL RETAIL P | Bualuang Office vs. WHA Industrial Leasehold |
| Grande Hospitality vs. Ramkhamhaeng Hospital Public | Grande Hospitality vs. BPS TECHNOLOGY PUBLIC | Grande Hospitality vs. SAF Special Steel | Grande Hospitality vs. S Hotels 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 Share Portfolio module to track or share privately all of your investments from the convenience of any device.
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