Correlation Between CPN Commercial and INET Leasehold
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By analyzing existing cross correlation between CPN Commercial Growth and INET Leasehold REIT, you can compare the effects of market volatilities on CPN Commercial and INET Leasehold 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 CPN Commercial with a short position of INET Leasehold. Check out your portfolio center. Please also check ongoing floating volatility patterns of CPN Commercial and INET Leasehold.
Diversification Opportunities for CPN Commercial and INET Leasehold
-0.1 | Correlation Coefficient |
Good diversification
The 3 months correlation between CPN and INET is -0.1. Overlapping area represents the amount of risk that can be diversified away by holding CPN Commercial Growth and INET Leasehold REIT in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on INET Leasehold REIT and CPN Commercial 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 CPN Commercial Growth are associated (or correlated) with INET Leasehold. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of INET Leasehold REIT has no effect on the direction of CPN Commercial i.e., CPN Commercial and INET Leasehold go up and down completely randomly.
Pair Corralation between CPN Commercial and INET Leasehold
Assuming the 90 days trading horizon CPN Commercial is expected to generate 1.14 times less return on investment than INET Leasehold. But when comparing it to its historical volatility, CPN Commercial Growth is 1.08 times less risky than INET Leasehold. It trades about 0.0 of its potential returns per unit of risk. INET Leasehold REIT is currently generating about 0.0 of returns per unit of risk over similar time horizon. If you would invest 860.00 in INET Leasehold REIT on November 3, 2024 and sell it today you would earn a total of 0.00 from holding INET Leasehold REIT or generate 0.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
CPN Commercial Growth vs. INET Leasehold REIT
Performance |
| Timeline |
| CPN Commercial Growth |
| INET Leasehold REIT |
CPN Commercial and INET Leasehold Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with CPN Commercial and INET Leasehold
The main advantage of trading using opposite CPN Commercial and INET Leasehold positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if CPN Commercial position performs unexpectedly, INET Leasehold 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 INET Leasehold will offset losses from the drop in INET Leasehold's long position.| CPN Commercial vs. Digital Telecommunications Infrastructure | CPN Commercial vs. Prime Office Leasehold | CPN Commercial vs. CPN Retail Growth | CPN Commercial vs. Dynasty Ceramic Public |
| INET Leasehold vs. Multi National Residence | INET Leasehold vs. Quality Houses Property | INET Leasehold vs. The Erawan Group | INET Leasehold vs. Autocorp Holding Public |
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 Stocks Directory module to find actively traded stocks across global markets.
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