Correlation Between Bhiraj Office and Premier Marketing
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By analyzing existing cross correlation between Bhiraj Office Leasehold and Premier Marketing Public, you can compare the effects of market volatilities on Bhiraj Office and Premier Marketing 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 Premier Marketing. Check out your portfolio center. Please also check ongoing floating volatility patterns of Bhiraj Office and Premier Marketing.
Diversification Opportunities for Bhiraj Office and Premier Marketing
0.66 | Correlation Coefficient |
Poor diversification
The 3 months correlation between Bhiraj and Premier is 0.66. Overlapping area represents the amount of risk that can be diversified away by holding Bhiraj Office Leasehold and Premier Marketing Public in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Premier Marketing 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 Premier Marketing. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Premier Marketing Public has no effect on the direction of Bhiraj Office i.e., Bhiraj Office and Premier Marketing go up and down completely randomly.
Pair Corralation between Bhiraj Office and Premier Marketing
Assuming the 90 days trading horizon Bhiraj Office is expected to generate 1.48 times less return on investment than Premier Marketing. But when comparing it to its historical volatility, Bhiraj Office Leasehold is 1.38 times less risky than Premier Marketing. It trades about 0.07 of its potential returns per unit of risk. Premier Marketing Public is currently generating about 0.08 of returns per unit of risk over similar time horizon. If you would invest 786.00 in Premier Marketing Public on August 29, 2024 and sell it today you would earn a total of 129.00 from holding Premier Marketing Public or generate 16.41% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Significant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Bhiraj Office Leasehold vs. Premier Marketing Public
Performance |
| Timeline |
| Bhiraj Office Leasehold |
| Premier Marketing Public |
Bhiraj Office and Premier Marketing Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Bhiraj Office and Premier Marketing
The main advantage of trading using opposite Bhiraj Office and Premier Marketing positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Bhiraj Office position performs unexpectedly, Premier Marketing 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 Premier Marketing will offset losses from the drop in Premier Marketing's long position.| Bhiraj Office vs. Quality Houses Hotel | Bhiraj Office vs. Quality Houses Property | Bhiraj Office vs. CK Power Public | Bhiraj Office vs. Thai Metal Drum |
| Premier Marketing vs. Haad Thip Public | Premier Marketing vs. MK Restaurant Group | Premier Marketing vs. Thai Union Group | Premier Marketing vs. Taokaenoi Food Marketing |
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 Premium Stories module to follow Macroaxis premium stories from verified contributors across different equity types, categories and coverage scope.
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