Correlation Between CapitaLand Investment and Sinclair
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By analyzing existing cross correlation between CapitaLand Investment Limited and Sinclair Television Group, you can compare the effects of market volatilities on CapitaLand Investment and Sinclair 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 CapitaLand Investment with a short position of Sinclair. Check out your portfolio center. Please also check ongoing floating volatility patterns of CapitaLand Investment and Sinclair.
Diversification Opportunities for CapitaLand Investment and Sinclair
0.46 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between CapitaLand and Sinclair is 0.46. Overlapping area represents the amount of risk that can be diversified away by holding CapitaLand Investment Limited and Sinclair Television Group in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Sinclair Television and CapitaLand Investment 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 CapitaLand Investment Limited are associated (or correlated) with Sinclair. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Sinclair Television has no effect on the direction of CapitaLand Investment i.e., CapitaLand Investment and Sinclair go up and down completely randomly.
Pair Corralation between CapitaLand Investment and Sinclair
Assuming the 90 days horizon CapitaLand Investment Limited is expected to generate 1.25 times more return on investment than Sinclair. However, CapitaLand Investment is 1.25 times more volatile than Sinclair Television Group. It trades about -0.22 of its potential returns per unit of risk. Sinclair Television Group is currently generating about -0.37 per unit of risk. If you would invest 199.00 in CapitaLand Investment Limited on November 28, 2024 and sell it today you would lose (32.00) from holding CapitaLand Investment Limited or give up 16.08% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 42.86% |
| Values | Daily Returns |
CapitaLand Investment Limited vs. Sinclair Television Group
Performance |
| Timeline |
| CapitaLand Investment |
| Sinclair Television |
CapitaLand Investment and Sinclair Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with CapitaLand Investment and Sinclair
The main advantage of trading using opposite CapitaLand Investment and Sinclair positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if CapitaLand Investment position performs unexpectedly, Sinclair 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 Sinclair will offset losses from the drop in Sinclair's long position.| CapitaLand Investment vs. IRSA Inversiones Y | CapitaLand Investment vs. Anywhere Real Estate | CapitaLand Investment vs. Newmark Group | CapitaLand Investment vs. Wharf Real Estate |
| Sinclair vs. Alvotech | Sinclair vs. Cardinal Health | Sinclair vs. Hewlett Packard Enterprise | Sinclair vs. Avadel Pharmaceuticals PLC |
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 Price Transformation module to use Price Transformation models to analyze the depth of different equity instruments across global markets.
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