Correlation Between CPN Retail and Prime Office
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By analyzing existing cross correlation between CPN Retail Growth and Prime Office Leasehold, you can compare the effects of market volatilities on CPN Retail and Prime Office 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 Prime Office. Check out your portfolio center. Please also check ongoing floating volatility patterns of CPN Retail and Prime Office.
Diversification Opportunities for CPN Retail and Prime Office
0.16 | Correlation Coefficient |
Average diversification
The 3 months correlation between CPN and Prime is 0.16. Overlapping area represents the amount of risk that can be diversified away by holding CPN Retail Growth and Prime Office Leasehold in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Prime Office 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 Prime Office. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Prime Office Leasehold has no effect on the direction of CPN Retail i.e., CPN Retail and Prime Office go up and down completely randomly.
Pair Corralation between CPN Retail and Prime Office
Assuming the 90 days trading horizon CPN Retail is expected to generate 1.0 times less return on investment than Prime Office. In addition to that, CPN Retail is 1.34 times more volatile than Prime Office Leasehold. It trades about 0.06 of its total potential returns per unit of risk. Prime Office Leasehold is currently generating about 0.08 per unit of volatility. If you would invest 608.00 in Prime Office Leasehold on September 3, 2024 and sell it today you would earn a total of 12.00 from holding Prime Office Leasehold or generate 1.97% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
CPN Retail Growth vs. Prime Office Leasehold
Performance |
| Timeline |
| CPN Retail Growth |
| Prime Office Leasehold |
CPN Retail and Prime Office Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with CPN Retail and Prime Office
The main advantage of trading using opposite CPN Retail and Prime Office positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if CPN Retail position performs unexpectedly, Prime Office 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 Prime Office will offset losses from the drop in Prime Office'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 |
| Prime Office vs. CPN Commercial Growth | Prime Office vs. Quality Houses Property | Prime Office 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 Investing Opportunities module to build portfolios using our predefined set of ideas and optimize them against your investing preferences.
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