Correlation Between CPN Commercial and Jay Mart
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By analyzing existing cross correlation between CPN Commercial Growth and Jay Mart Public, you can compare the effects of market volatilities on CPN Commercial and Jay Mart 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 Jay Mart. Check out your portfolio center. Please also check ongoing floating volatility patterns of CPN Commercial and Jay Mart.
Diversification Opportunities for CPN Commercial and Jay Mart
0.11 | Correlation Coefficient |
Average diversification
The 3 months correlation between CPN and Jay is 0.11. Overlapping area represents the amount of risk that can be diversified away by holding CPN Commercial Growth and Jay Mart Public in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Jay Mart Public 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 Jay Mart. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Jay Mart Public has no effect on the direction of CPN Commercial i.e., CPN Commercial and Jay Mart go up and down completely randomly.
Pair Corralation between CPN Commercial and Jay Mart
Assuming the 90 days trading horizon CPN Commercial Growth is expected to generate 0.17 times more return on investment than Jay Mart. However, CPN Commercial Growth is 6.05 times less risky than Jay Mart. It trades about 0.0 of its potential returns per unit of risk. Jay Mart Public is currently generating about -0.21 per unit of risk. If you would invest 625.00 in CPN Commercial Growth on November 3, 2024 and sell it today you would earn a total of 0.00 from holding CPN Commercial Growth or generate 0.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
CPN Commercial Growth vs. Jay Mart Public
Performance |
| Timeline |
| CPN Commercial Growth |
| Jay Mart Public |
CPN Commercial and Jay Mart Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with CPN Commercial and Jay Mart
The main advantage of trading using opposite CPN Commercial and Jay Mart positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if CPN Commercial position performs unexpectedly, Jay Mart 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 Jay Mart will offset losses from the drop in Jay Mart'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 |
| Jay Mart vs. Jay Mart Public | Jay Mart vs. Krungthai Card Public | Jay Mart vs. Kasikornbank Public | Jay Mart vs. KERRY EXPRESS |
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 Ceiling Movement module to calculate and plot Price Ceiling Movement for different equity instruments.
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