Correlation Between Delta Electronics and 3BB INTERNET
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By analyzing existing cross correlation between Delta Electronics Public and 3BB INTERNET INFRASTRUCTURE, you can compare the effects of market volatilities on Delta Electronics and 3BB INTERNET 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 Delta Electronics with a short position of 3BB INTERNET. Check out your portfolio center. Please also check ongoing floating volatility patterns of Delta Electronics and 3BB INTERNET.
Diversification Opportunities for Delta Electronics and 3BB INTERNET
-0.08 | Correlation Coefficient |
Good diversification
The 3 months correlation between Delta and 3BB is -0.08. Overlapping area represents the amount of risk that can be diversified away by holding Delta Electronics Public and 3BB INTERNET INFRASTRUCTURE in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on 3BB INTERNET INFRAST and Delta Electronics 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 Delta Electronics Public are associated (or correlated) with 3BB INTERNET. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of 3BB INTERNET INFRAST has no effect on the direction of Delta Electronics i.e., Delta Electronics and 3BB INTERNET go up and down completely randomly.
Pair Corralation between Delta Electronics and 3BB INTERNET
Assuming the 90 days trading horizon Delta Electronics Public is expected to generate 2.22 times more return on investment than 3BB INTERNET. However, Delta Electronics is 2.22 times more volatile than 3BB INTERNET INFRASTRUCTURE. It trades about 0.06 of its potential returns per unit of risk. 3BB INTERNET INFRASTRUCTURE is currently generating about 0.01 per unit of risk. If you would invest 9,875 in Delta Electronics Public on August 24, 2024 and sell it today you would earn a total of 4,725 from holding Delta Electronics Public or generate 47.85% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 99.62% |
| Values | Daily Returns |
Delta Electronics Public vs. 3BB INTERNET INFRASTRUCTURE
Performance |
| Timeline |
| Delta Electronics Public |
| 3BB INTERNET INFRAST |
Delta Electronics and 3BB INTERNET Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Delta Electronics and 3BB INTERNET
The main advantage of trading using opposite Delta Electronics and 3BB INTERNET positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Delta Electronics position performs unexpectedly, 3BB INTERNET 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 3BB INTERNET will offset losses from the drop in 3BB INTERNET's long position.| Delta Electronics vs. Delta Electronics Public | Delta Electronics vs. PTT Public | Delta Electronics vs. CP ALL Public | Delta Electronics vs. The Siam Commercial |
| 3BB INTERNET vs. Delta Electronics Public | 3BB INTERNET vs. Delta Electronics Public | 3BB INTERNET vs. Airports of Thailand | 3BB INTERNET vs. Airports of Thailand |
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 Insider Screener module to find insiders across different sectors to evaluate their impact on performance.
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