Correlation Between CPN Retail and Future Park
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By analyzing existing cross correlation between CPN Retail Growth and Future Park Leasehold, you can compare the effects of market volatilities on CPN Retail and Future Park 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 Future Park. Check out your portfolio center. Please also check ongoing floating volatility patterns of CPN Retail and Future Park.
Diversification Opportunities for CPN Retail and Future Park
-0.1 | Correlation Coefficient |
Good diversification
The 3 months correlation between CPN and Future is -0.1. Overlapping area represents the amount of risk that can be diversified away by holding CPN Retail Growth and Future Park Leasehold in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Future Park Leasehold 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 Future Park. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Future Park Leasehold has no effect on the direction of CPN Retail i.e., CPN Retail and Future Park go up and down completely randomly.
Pair Corralation between CPN Retail and Future Park
Assuming the 90 days trading horizon CPN Retail Growth is expected to generate 0.08 times more return on investment than Future Park. However, CPN Retail Growth is 13.28 times less risky than Future Park. It trades about 0.08 of its potential returns per unit of risk. Future Park Leasehold is currently generating about -0.21 per unit of risk. If you would invest 1,188 in CPN Retail Growth on August 31, 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 Against |
| Strength | Insignificant |
| Accuracy | 95.65% |
| Values | Daily Returns |
CPN Retail Growth vs. Future Park Leasehold
Performance |
| Timeline |
| CPN Retail Growth |
| Future Park Leasehold |
CPN Retail and Future Park Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with CPN Retail and Future Park
The main advantage of trading using opposite CPN Retail and Future Park positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if CPN Retail position performs unexpectedly, Future Park 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 Future Park will offset losses from the drop in Future Park'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 |
| Future Park vs. LH Shopping Centers | Future Park vs. HEMARAJ INDUSTRIAL PROPERTY | Future Park vs. Land and Houses |
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 Idea Breakdown module to analyze constituents of all Macroaxis ideas. Macroaxis investment ideas are predefined, sector-focused investing themes.
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