Correlation Between CPN Retail and Golden Ventures
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By analyzing existing cross correlation between CPN Retail Growth and Golden Ventures Leasehold, you can compare the effects of market volatilities on CPN Retail and Golden Ventures 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 Golden Ventures. Check out your portfolio center. Please also check ongoing floating volatility patterns of CPN Retail and Golden Ventures.
Diversification Opportunities for CPN Retail and Golden Ventures
0.46 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between CPN and Golden is 0.46. Overlapping area represents the amount of risk that can be diversified away by holding CPN Retail Growth and Golden Ventures Leasehold in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Golden Ventures 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 Golden Ventures. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Golden Ventures Leasehold has no effect on the direction of CPN Retail i.e., CPN Retail and Golden Ventures go up and down completely randomly.
Pair Corralation between CPN Retail and Golden Ventures
Assuming the 90 days trading horizon CPN Retail is expected to generate 1.32 times less return on investment than Golden Ventures. But when comparing it to its historical volatility, CPN Retail Growth is 1.02 times less risky than Golden Ventures. It trades about 0.12 of its potential returns per unit of risk. Golden Ventures Leasehold is currently generating about 0.16 of returns per unit of risk over similar time horizon. If you would invest 516.00 in Golden Ventures Leasehold on August 29, 2024 and sell it today you would earn a total of 169.00 from holding Golden Ventures Leasehold or generate 32.75% 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. Golden Ventures Leasehold
Performance |
| Timeline |
| CPN Retail Growth |
| Golden Ventures Leasehold |
CPN Retail and Golden Ventures Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with CPN Retail and Golden Ventures
The main advantage of trading using opposite CPN Retail and Golden Ventures positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if CPN Retail position performs unexpectedly, Golden Ventures 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 Golden Ventures will offset losses from the drop in Golden Ventures' 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 |
| Golden Ventures vs. Impact Growth REIT | Golden Ventures vs. CPN Retail Growth | Golden Ventures vs. WHA Premium Growth | Golden Ventures vs. LH Shopping Centers |
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 Commodity Directory module to find actively traded commodities issued by global exchanges.
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