Correlation Between CK Power and Sri Panwa
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By analyzing existing cross correlation between CK Power Public and Sri panwa Hospitality, you can compare the effects of market volatilities on CK Power and Sri Panwa 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 CK Power with a short position of Sri Panwa. Check out your portfolio center. Please also check ongoing floating volatility patterns of CK Power and Sri Panwa.
Diversification Opportunities for CK Power and Sri Panwa
Very good diversification
The 3 months correlation between CKP-R and Sri is -0.26. Overlapping area represents the amount of risk that can be diversified away by holding CK Power Public and Sri panwa Hospitality in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Sri panwa Hospitality and CK Power 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 CK Power Public are associated (or correlated) with Sri Panwa. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Sri panwa Hospitality has no effect on the direction of CK Power i.e., CK Power and Sri Panwa go up and down completely randomly.
Pair Corralation between CK Power and Sri Panwa
Assuming the 90 days trading horizon CK Power Public is expected to under-perform the Sri Panwa. In addition to that, CK Power is 1.37 times more volatile than Sri panwa Hospitality. It trades about -0.03 of its total potential returns per unit of risk. Sri panwa Hospitality is currently generating about 0.12 per unit of volatility. If you would invest 477.00 in Sri panwa Hospitality on September 13, 2024 and sell it today you would earn a total of 98.00 from holding Sri panwa Hospitality or generate 20.55% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
CK Power Public vs. Sri panwa Hospitality
Performance |
| Timeline |
| CK Power Public |
| Sri panwa Hospitality |
CK Power and Sri Panwa Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with CK Power and Sri Panwa
The main advantage of trading using opposite CK Power and Sri Panwa positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if CK Power position performs unexpectedly, Sri Panwa 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 Sri Panwa will offset losses from the drop in Sri Panwa's long position.| CK Power vs. Surapon Foods Public | CK Power vs. Dexon Technology PCL | CK Power vs. Asia Metal Public | CK Power vs. RB Food Supply |
| Sri Panwa vs. Dusit Thani Freehold | Sri Panwa vs. LH Hotel Leasehold | Sri Panwa vs. LH Shopping Centers | Sri Panwa vs. Grande Hospitality Real |
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 Volatility Analysis module to get historical volatility and risk analysis based on latest market data.
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