Correlation Between Delta Electronics and Beryl 8
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By analyzing existing cross correlation between Delta Electronics Public and Beryl 8 Plus, you can compare the effects of market volatilities on Delta Electronics and Beryl 8 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 Beryl 8. Check out your portfolio center. Please also check ongoing floating volatility patterns of Delta Electronics and Beryl 8.
Diversification Opportunities for Delta Electronics and Beryl 8
-0.3 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Delta and Beryl is -0.3. Overlapping area represents the amount of risk that can be diversified away by holding Delta Electronics Public and Beryl 8 Plus in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Beryl 8 Plus 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 Beryl 8. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Beryl 8 Plus has no effect on the direction of Delta Electronics i.e., Delta Electronics and Beryl 8 go up and down completely randomly.
Pair Corralation between Delta Electronics and Beryl 8
Assuming the 90 days trading horizon Delta Electronics Public is expected to generate 4.32 times more return on investment than Beryl 8. However, Delta Electronics is 4.32 times more volatile than Beryl 8 Plus. It trades about 0.21 of its potential returns per unit of risk. Beryl 8 Plus is currently generating about -0.66 per unit of risk. If you would invest 9,920 in Delta Electronics Public on August 25, 2024 and sell it today you would earn a total of 4,680 from holding Delta Electronics Public or generate 47.18% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Delta Electronics Public vs. Beryl 8 Plus
Performance |
| Timeline |
| Delta Electronics Public |
| Beryl 8 Plus |
Delta Electronics and Beryl 8 Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Delta Electronics and Beryl 8
The main advantage of trading using opposite Delta Electronics and Beryl 8 positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Delta Electronics position performs unexpectedly, Beryl 8 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 Beryl 8 will offset losses from the drop in Beryl 8'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 |
| Beryl 8 vs. Delta Electronics Public | Beryl 8 vs. Delta Electronics Public | Beryl 8 vs. Airports of Thailand | Beryl 8 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 Alpha Finder module to use alpha and beta coefficients to find investment opportunities after accounting for the risk.
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