Correlation Between Bhiraj Office and Delta Electronics
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By analyzing existing cross correlation between Bhiraj Office Leasehold and Delta Electronics Public, you can compare the effects of market volatilities on Bhiraj Office and Delta Electronics 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 Delta Electronics. Check out your portfolio center. Please also check ongoing floating volatility patterns of Bhiraj Office and Delta Electronics.
Diversification Opportunities for Bhiraj Office and Delta Electronics
0.51 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between Bhiraj and Delta is 0.51. Overlapping area represents the amount of risk that can be diversified away by holding Bhiraj Office Leasehold and Delta Electronics Public in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Delta Electronics Public 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 Delta Electronics. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Delta Electronics Public has no effect on the direction of Bhiraj Office i.e., Bhiraj Office and Delta Electronics go up and down completely randomly.
Pair Corralation between Bhiraj Office and Delta Electronics
Assuming the 90 days trading horizon Bhiraj Office is expected to generate 75.46 times less return on investment than Delta Electronics. But when comparing it to its historical volatility, Bhiraj Office Leasehold is 3.69 times less risky than Delta Electronics. It trades about 0.01 of its potential returns per unit of risk. Delta Electronics Public is currently generating about 0.11 of returns per unit of risk over similar time horizon. If you would invest 13,800 in Delta Electronics Public on September 1, 2024 and sell it today you would earn a total of 1,250 from holding Delta Electronics Public or generate 9.06% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Bhiraj Office Leasehold vs. Delta Electronics Public
Performance |
| Timeline |
| Bhiraj Office Leasehold |
| Delta Electronics Public |
Bhiraj Office and Delta Electronics Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Bhiraj Office and Delta Electronics
The main advantage of trading using opposite Bhiraj Office and Delta Electronics positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Bhiraj Office position performs unexpectedly, Delta Electronics 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 Delta Electronics will offset losses from the drop in Delta Electronics' long position.| Bhiraj Office vs. LH Shopping Centers | Bhiraj Office vs. HEMARAJ INDUSTRIAL PROPERTY | Bhiraj Office vs. Land and Houses |
| Delta Electronics vs. Airports of Thailand | Delta Electronics vs. Hana Microelectronics Public | Delta Electronics vs. Advanced Info Service | Delta Electronics vs. Kasikornbank 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 Balance Of Power module to check stock momentum by analyzing Balance Of Power indicator and other technical ratios.
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