Correlation Between Delta Electronics and BA Airport
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By analyzing existing cross correlation between Delta Electronics Public and BA Airport Leasehold, you can compare the effects of market volatilities on Delta Electronics and BA Airport 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 BA Airport. Check out your portfolio center. Please also check ongoing floating volatility patterns of Delta Electronics and BA Airport.
Diversification Opportunities for Delta Electronics and BA Airport
-0.1 | Correlation Coefficient |
Good diversification
The 3 months correlation between Delta and BAREIT is -0.1. Overlapping area represents the amount of risk that can be diversified away by holding Delta Electronics Public and BA Airport Leasehold in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on BA Airport Leasehold 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 BA Airport. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of BA Airport Leasehold has no effect on the direction of Delta Electronics i.e., Delta Electronics and BA Airport go up and down completely randomly.
Pair Corralation between Delta Electronics and BA Airport
Assuming the 90 days trading horizon Delta Electronics Public is expected to generate 3.72 times more return on investment than BA Airport. However, Delta Electronics is 3.72 times more volatile than BA Airport Leasehold. It trades about 0.06 of its potential returns per unit of risk. BA Airport Leasehold is currently generating about 0.02 per unit of risk. If you would invest 5,814 in Delta Electronics Public on September 4, 2024 and sell it today you would earn a total of 9,386 from holding Delta Electronics Public or generate 161.44% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 99.79% |
| Values | Daily Returns |
Delta Electronics Public vs. BA Airport Leasehold
Performance |
| Timeline |
| Delta Electronics Public |
| BA Airport Leasehold |
Delta Electronics and BA Airport Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Delta Electronics and BA Airport
The main advantage of trading using opposite Delta Electronics and BA Airport positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Delta Electronics position performs unexpectedly, BA Airport 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 BA Airport will offset losses from the drop in BA Airport's long position.| Delta Electronics vs. AJ Advance Technology | Delta Electronics vs. Asia Precision Public | Delta Electronics vs. Asia Metal Public | Delta Electronics vs. The Erawan Group |
| BA Airport vs. Bhiraj Office Leasehold | BA Airport vs. AJ Advance Technology | BA Airport vs. President Automobile Industries | BA Airport vs. Dexon Technology PCL |
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 Volatility Analysis module to get historical volatility and risk analysis based on latest market data.
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