Correlation Between CHUWIT FARM and Bhiraj Office
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By analyzing existing cross correlation between CHUWIT FARM PUBLIC and Bhiraj Office Leasehold, you can compare the effects of market volatilities on CHUWIT FARM and Bhiraj Office 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 CHUWIT FARM with a short position of Bhiraj Office. Check out your portfolio center. Please also check ongoing floating volatility patterns of CHUWIT FARM and Bhiraj Office.
Diversification Opportunities for CHUWIT FARM and Bhiraj Office
-0.55 | Correlation Coefficient |
Excellent diversification
The 3 months correlation between CHUWIT and Bhiraj is -0.55. Overlapping area represents the amount of risk that can be diversified away by holding CHUWIT FARM PUBLIC and Bhiraj Office Leasehold in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Bhiraj Office Leasehold and CHUWIT FARM 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 CHUWIT FARM PUBLIC are associated (or correlated) with Bhiraj Office. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Bhiraj Office Leasehold has no effect on the direction of CHUWIT FARM i.e., CHUWIT FARM and Bhiraj Office go up and down completely randomly.
Pair Corralation between CHUWIT FARM and Bhiraj Office
Assuming the 90 days trading horizon CHUWIT FARM PUBLIC is expected to under-perform the Bhiraj Office. In addition to that, CHUWIT FARM is 4.87 times more volatile than Bhiraj Office Leasehold. It trades about -0.06 of its total potential returns per unit of risk. Bhiraj Office Leasehold is currently generating about -0.04 per unit of volatility. If you would invest 646.00 in Bhiraj Office Leasehold on August 31, 2024 and sell it today you would lose (136.00) from holding Bhiraj Office Leasehold or give up 21.05% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 26.13% |
| Values | Daily Returns |
CHUWIT FARM PUBLIC vs. Bhiraj Office Leasehold
Performance |
| Timeline |
| CHUWIT FARM PUBLIC |
| Bhiraj Office Leasehold |
CHUWIT FARM and Bhiraj Office Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with CHUWIT FARM and Bhiraj Office
The main advantage of trading using opposite CHUWIT FARM and Bhiraj Office positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if CHUWIT FARM position performs unexpectedly, Bhiraj Office 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 Bhiraj Office will offset losses from the drop in Bhiraj Office's long position.| CHUWIT FARM vs. AP Public | CHUWIT FARM vs. TRC Construction Public | CHUWIT FARM vs. Bangkok Expressway and | CHUWIT FARM vs. Lohakit Metal Public |
| Bhiraj Office vs. LH Shopping Centers | Bhiraj Office vs. HEMARAJ INDUSTRIAL PROPERTY | Bhiraj Office vs. Land and Houses |
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 Competition Analyzer module to analyze and compare many basic indicators for a group of related or unrelated entities.
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