Correlation Between Bhiraj Office and S Hotels
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By analyzing existing cross correlation between Bhiraj Office Leasehold and S Hotels and, you can compare the effects of market volatilities on Bhiraj Office and S Hotels 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 S Hotels. Check out your portfolio center. Please also check ongoing floating volatility patterns of Bhiraj Office and S Hotels.
Diversification Opportunities for Bhiraj Office and S Hotels
0.63 | Correlation Coefficient |
Poor diversification
The 3 months correlation between Bhiraj and SHR is 0.63. Overlapping area represents the amount of risk that can be diversified away by holding Bhiraj Office Leasehold and S Hotels and in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on S Hotels 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 S Hotels. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of S Hotels has no effect on the direction of Bhiraj Office i.e., Bhiraj Office and S Hotels go up and down completely randomly.
Pair Corralation between Bhiraj Office and S Hotels
Assuming the 90 days trading horizon Bhiraj Office Leasehold is expected to generate 0.57 times more return on investment than S Hotels. However, Bhiraj Office Leasehold is 1.76 times less risky than S Hotels. It trades about 0.07 of its potential returns per unit of risk. S Hotels and is currently generating about -0.01 per unit of risk. If you would invest 457.00 in Bhiraj Office Leasehold on September 3, 2024 and sell it today you would earn a total of 53.00 from holding Bhiraj Office Leasehold or generate 11.6% 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. S Hotels and
Performance |
| Timeline |
| Bhiraj Office Leasehold |
| S Hotels |
Bhiraj Office and S Hotels Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Bhiraj Office and S Hotels
The main advantage of trading using opposite Bhiraj Office and S Hotels positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Bhiraj Office position performs unexpectedly, S Hotels 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 S Hotels will offset losses from the drop in S Hotels' 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 |
| S Hotels vs. Central Plaza Hotel | S Hotels vs. The Erawan Group | S Hotels vs. Minor International Public | S Hotels vs. Advanced Info Service |
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 Performance Analysis module to check effects of mean-variance optimization against your current asset allocation.
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