Correlation Between Charoen Pokphand and Amata Public
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By analyzing existing cross correlation between Charoen Pokphand Foods and Amata Public, you can compare the effects of market volatilities on Charoen Pokphand and Amata Public 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 Charoen Pokphand with a short position of Amata Public. Check out your portfolio center. Please also check ongoing floating volatility patterns of Charoen Pokphand and Amata Public.
Diversification Opportunities for Charoen Pokphand and Amata Public
-0.34 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Charoen and Amata is -0.34. Overlapping area represents the amount of risk that can be diversified away by holding Charoen Pokphand Foods and Amata Public in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Amata Public and Charoen Pokphand 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 Charoen Pokphand Foods are associated (or correlated) with Amata Public. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Amata Public has no effect on the direction of Charoen Pokphand i.e., Charoen Pokphand and Amata Public go up and down completely randomly.
Pair Corralation between Charoen Pokphand and Amata Public
If you would invest 2,270 in Amata Public on September 13, 2024 and sell it today you would earn a total of 0.00 from holding Amata Public or generate 0.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 90.0% |
| Values | Daily Returns |
Charoen Pokphand Foods vs. Amata Public
Performance |
| Timeline |
| Charoen Pokphand Foods |
| Amata Public |
Charoen Pokphand and Amata Public Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Charoen Pokphand and Amata Public
The main advantage of trading using opposite Charoen Pokphand and Amata Public positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Charoen Pokphand position performs unexpectedly, Amata Public 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 Amata Public will offset losses from the drop in Amata Public's long position.| Charoen Pokphand vs. CP ALL Public | Charoen Pokphand vs. The Siam Cement | Charoen Pokphand vs. OSOTSPA PCL NVDR | Charoen Pokphand vs. The Siam Commercial |
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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 Commodity Directory module to find actively traded commodities issued by global exchanges.
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