Correlation Between Bhiraj Office and KGI Securities
Specify exactly 2 symbols:
By analyzing existing cross correlation between Bhiraj Office Leasehold and KGI Securities Public, you can compare the effects of market volatilities on Bhiraj Office and KGI Securities 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 KGI Securities. Check out your portfolio center. Please also check ongoing floating volatility patterns of Bhiraj Office and KGI Securities.
Diversification Opportunities for Bhiraj Office and KGI Securities
-0.28 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Bhiraj and KGI is -0.28. Overlapping area represents the amount of risk that can be diversified away by holding Bhiraj Office Leasehold and KGI Securities Public in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on KGI Securities 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 KGI Securities. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of KGI Securities Public has no effect on the direction of Bhiraj Office i.e., Bhiraj Office and KGI Securities go up and down completely randomly.
Pair Corralation between Bhiraj Office and KGI Securities
Assuming the 90 days trading horizon Bhiraj Office Leasehold is expected to under-perform the KGI Securities. But the stock apears to be less risky and, when comparing its historical volatility, Bhiraj Office Leasehold is 1.1 times less risky than KGI Securities. The stock trades about -0.26 of its potential returns per unit of risk. The KGI Securities Public is currently generating about -0.1 of returns per unit of risk over similar time horizon. If you would invest 422.00 in KGI Securities Public on November 4, 2024 and sell it today you would lose (4.00) from holding KGI Securities Public or give up 0.95% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Bhiraj Office Leasehold vs. KGI Securities Public
Performance |
| Timeline |
| Bhiraj Office Leasehold |
| KGI Securities Public |
Bhiraj Office and KGI Securities Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Bhiraj Office and KGI Securities
The main advantage of trading using opposite Bhiraj Office and KGI Securities positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Bhiraj Office position performs unexpectedly, KGI Securities 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 KGI Securities will offset losses from the drop in KGI Securities' long position.| Bhiraj Office vs. WHA Premium Growth | Bhiraj Office vs. Amata Summit Growth | Bhiraj Office vs. Impact Growth REIT | Bhiraj Office vs. AIM Industrial Growth |
| KGI Securities vs. Bank of Ayudhya | KGI Securities vs. Thai Industrial | KGI Securities vs. Thai Reinsurance Public | KGI Securities vs. Amata Summit Growth |
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 Latest Portfolios module to quick portfolio dashboard that showcases your latest portfolios.
Other Complementary Tools
| Volatility Analysis Get historical volatility and risk analysis based on latest market data | |
| Aroon Oscillator Analyze current equity momentum using Aroon Oscillator and other momentum ratios | |
| Odds Of Bankruptcy Get analysis of equity chance of financial distress in the next 2 years | |
| Insider Screener Find insiders across different sectors to evaluate their impact on performance | |
| Fundamentals Comparison Compare fundamentals across multiple equities to find investing opportunities |