Correlation Between Bhiraj Office and Asia Sermkij
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By analyzing existing cross correlation between Bhiraj Office Leasehold and Asia Sermkij Leasing, you can compare the effects of market volatilities on Bhiraj Office and Asia Sermkij 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 Bhiraj Office with a short position of Asia Sermkij. Check out your portfolio center. Please also check ongoing floating volatility patterns of Bhiraj Office and Asia Sermkij.
Diversification Opportunities for Bhiraj Office and Asia Sermkij
-0.28 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Bhiraj and Asia is -0.28. Overlapping area represents the amount of risk that can be diversified away by holding Bhiraj Office Leasehold and Asia Sermkij Leasing in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Asia Sermkij Leasing and Bhiraj 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 Bhiraj Office Leasehold are associated (or correlated) with Asia Sermkij. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Asia Sermkij Leasing has no effect on the direction of Bhiraj Office i.e., Bhiraj Office and Asia Sermkij go up and down completely randomly.
Pair Corralation between Bhiraj Office and Asia Sermkij
Assuming the 90 days trading horizon Bhiraj Office Leasehold is expected to generate 0.62 times more return on investment than Asia Sermkij. However, Bhiraj Office Leasehold is 1.61 times less risky than Asia Sermkij. It trades about 0.08 of its potential returns per unit of risk. Asia Sermkij Leasing is currently generating about -0.32 per unit of risk. 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 |
Bhiraj Office Leasehold vs. Asia Sermkij Leasing
Performance |
| Timeline |
| Bhiraj Office Leasehold |
| Asia Sermkij Leasing |
Bhiraj Office and Asia Sermkij Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Bhiraj Office and Asia Sermkij
The main advantage of trading using opposite Bhiraj Office and Asia Sermkij positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Bhiraj Office position performs unexpectedly, Asia Sermkij 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 Asia Sermkij will offset losses from the drop in Asia Sermkij's long position.| Bhiraj Office vs. Delta Electronics Public | Bhiraj Office vs. Delta Electronics Public | Bhiraj Office vs. Airports of Thailand | Bhiraj Office vs. Airports of Thailand |
| Asia Sermkij vs. AP Public | Asia Sermkij vs. Kiatnakin Phatra Bank | Asia Sermkij vs. TISCO Financial Group | Asia Sermkij vs. Carabao 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 Bollinger Bands module to use Bollinger Bands indicator to analyze target price for a given investing horizon.
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