Correlation Between CPN Retail and AIM Industrial
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By analyzing existing cross correlation between CPN Retail Growth and AIM Industrial Growth, you can compare the effects of market volatilities on CPN Retail and AIM Industrial 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 Retail with a short position of AIM Industrial. Check out your portfolio center. Please also check ongoing floating volatility patterns of CPN Retail and AIM Industrial.
Diversification Opportunities for CPN Retail and AIM Industrial
0.73 | Correlation Coefficient |
Poor diversification
The 3 months correlation between CPN and AIM is 0.73. Overlapping area represents the amount of risk that can be diversified away by holding CPN Retail Growth and AIM Industrial Growth in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on AIM Industrial Growth and CPN Retail 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 Retail Growth are associated (or correlated) with AIM Industrial. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of AIM Industrial Growth has no effect on the direction of CPN Retail i.e., CPN Retail and AIM Industrial go up and down completely randomly.
Pair Corralation between CPN Retail and AIM Industrial
Assuming the 90 days trading horizon CPN Retail Growth is expected to under-perform the AIM Industrial. In addition to that, CPN Retail is 2.38 times more volatile than AIM Industrial Growth. It trades about -0.12 of its total potential returns per unit of risk. AIM Industrial Growth is currently generating about 0.0 per unit of volatility. If you would invest 1,050 in AIM Industrial Growth on October 7, 2024 and sell it today you would earn a total of 0.00 from holding AIM Industrial Growth or generate 0.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Significant |
| Accuracy | 100.0% |
| Values | Daily Returns |
CPN Retail Growth vs. AIM Industrial Growth
Performance |
| Timeline |
| CPN Retail Growth |
| AIM Industrial Growth |
CPN Retail and AIM Industrial Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with CPN Retail and AIM Industrial
The main advantage of trading using opposite CPN Retail and AIM Industrial positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if CPN Retail position performs unexpectedly, AIM Industrial 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 AIM Industrial will offset losses from the drop in AIM Industrial's long position.| CPN Retail vs. Central Pattana Public | CPN Retail vs. Digital Telecommunications Infrastructure | CPN Retail vs. Impact Growth REIT | CPN Retail vs. WHA Premium Growth |
| AIM Industrial vs. Amata Summit Growth | AIM Industrial vs. WHA Premium Growth | AIM Industrial vs. Digital Telecommunications Infrastructure | AIM Industrial vs. Quality Houses Property |
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 Aroon Oscillator module to analyze current equity momentum using Aroon Oscillator and other momentum ratios.
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