Correlation Between CPN Retail and Dusit Thani
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By analyzing existing cross correlation between CPN Retail Growth and Dusit Thani Freehold, you can compare the effects of market volatilities on CPN Retail and Dusit Thani 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 Dusit Thani. Check out your portfolio center. Please also check ongoing floating volatility patterns of CPN Retail and Dusit Thani.
Diversification Opportunities for CPN Retail and Dusit Thani
0.36 | Correlation Coefficient |
Weak diversification
The 3 months correlation between CPN and Dusit is 0.36. Overlapping area represents the amount of risk that can be diversified away by holding CPN Retail Growth and Dusit Thani Freehold in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Dusit Thani Freehold 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 Dusit Thani. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Dusit Thani Freehold has no effect on the direction of CPN Retail i.e., CPN Retail and Dusit Thani go up and down completely randomly.
Pair Corralation between CPN Retail and Dusit Thani
Assuming the 90 days trading horizon CPN Retail Growth is expected to generate 1.74 times more return on investment than Dusit Thani. However, CPN Retail is 1.74 times more volatile than Dusit Thani Freehold. It trades about 0.08 of its potential returns per unit of risk. Dusit Thani Freehold is currently generating about -0.12 per unit of risk. If you would invest 1,188 in CPN Retail Growth on September 1, 2024 and sell it today you would earn a total of 32.00 from holding CPN Retail Growth or generate 2.69% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 95.65% |
| Values | Daily Returns |
CPN Retail Growth vs. Dusit Thani Freehold
Performance |
| Timeline |
| CPN Retail Growth |
| Dusit Thani Freehold |
CPN Retail and Dusit Thani Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with CPN Retail and Dusit Thani
The main advantage of trading using opposite CPN Retail and Dusit Thani positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if CPN Retail position performs unexpectedly, Dusit Thani 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 Dusit Thani will offset losses from the drop in Dusit Thani's long position.| CPN Retail vs. LH Shopping Centers | CPN Retail vs. Land and Houses | CPN Retail vs. Quality Houses Property | CPN Retail vs. Impact Growth REIT |
| Dusit Thani vs. CPN Retail Growth | Dusit Thani vs. Grande Hospitality Real | Dusit Thani vs. The Erawan Group | Dusit Thani vs. Impact Growth REIT |
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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