Correlation Between CPN Retail and INET Leasehold
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By analyzing existing cross correlation between CPN Retail Growth and INET Leasehold REIT, you can compare the effects of market volatilities on CPN Retail and INET Leasehold 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 INET Leasehold. Check out your portfolio center. Please also check ongoing floating volatility patterns of CPN Retail and INET Leasehold.
Diversification Opportunities for CPN Retail and INET Leasehold
0.69 | Correlation Coefficient |
Poor diversification
The 3 months correlation between CPN and INET is 0.69. Overlapping area represents the amount of risk that can be diversified away by holding CPN Retail Growth and INET Leasehold REIT in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on INET Leasehold REIT 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 INET Leasehold. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of INET Leasehold REIT has no effect on the direction of CPN Retail i.e., CPN Retail and INET Leasehold go up and down completely randomly.
Pair Corralation between CPN Retail and INET Leasehold
Assuming the 90 days trading horizon CPN Retail Growth is expected to generate 2.23 times more return on investment than INET Leasehold. However, CPN Retail is 2.23 times more volatile than INET Leasehold REIT. It trades about 0.06 of its potential returns per unit of risk. INET Leasehold REIT is currently generating about 0.04 per unit of risk. If you would invest 1,198 in CPN Retail Growth on August 29, 2024 and sell it today you would earn a total of 22.00 from holding CPN Retail Growth or generate 1.84% 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. INET Leasehold REIT
Performance |
| Timeline |
| CPN Retail Growth |
| INET Leasehold REIT |
CPN Retail and INET Leasehold Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with CPN Retail and INET Leasehold
The main advantage of trading using opposite CPN Retail and INET Leasehold positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if CPN Retail position performs unexpectedly, INET Leasehold 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 INET Leasehold will offset losses from the drop in INET Leasehold'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 |
| INET Leasehold vs. Impact Growth REIT | INET Leasehold vs. Internet Thailand Public | INET Leasehold vs. CPN Retail Growth | INET Leasehold vs. Golden Ventures Leasehold |
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 Money Managers module to screen money managers from public funds and ETFs managed around the world.
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