Correlation Between CPN Retail and Amata Summit
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By analyzing existing cross correlation between CPN Retail Growth and Amata Summit Growth, you can compare the effects of market volatilities on CPN Retail and Amata Summit 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 Amata Summit. Check out your portfolio center. Please also check ongoing floating volatility patterns of CPN Retail and Amata Summit.
Diversification Opportunities for CPN Retail and Amata Summit
0.46 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between CPN and Amata is 0.46. Overlapping area represents the amount of risk that can be diversified away by holding CPN Retail Growth and Amata Summit Growth in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Amata Summit 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 Amata Summit. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Amata Summit Growth has no effect on the direction of CPN Retail i.e., CPN Retail and Amata Summit go up and down completely randomly.
Pair Corralation between CPN Retail and Amata Summit
Assuming the 90 days trading horizon CPN Retail Growth is expected to generate 1.66 times more return on investment than Amata Summit. However, CPN Retail is 1.66 times more volatile than Amata Summit Growth. It trades about 0.09 of its potential returns per unit of risk. Amata Summit Growth is currently generating about 0.08 per unit of risk. If you would invest 1,021 in CPN Retail Growth on September 3, 2024 and sell it today you would earn a total of 199.00 from holding CPN Retail Growth or generate 19.49% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
CPN Retail Growth vs. Amata Summit Growth
Performance |
| Timeline |
| CPN Retail Growth |
| Amata Summit Growth |
CPN Retail and Amata Summit Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with CPN Retail and Amata Summit
The main advantage of trading using opposite CPN Retail and Amata Summit positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if CPN Retail position performs unexpectedly, Amata Summit 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 Summit will offset losses from the drop in Amata Summit'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 |
| Amata Summit vs. WHA Premium Growth | Amata Summit vs. AIM Industrial Growth | Amata Summit vs. Bangkok Commercial Property | Amata Summit 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 USA ETFs module to find actively traded Exchange Traded Funds (ETF) in USA.
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