Correlation Between Delta Electronics and Bound
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By analyzing existing cross correlation between Delta Electronics Public and Bound and Beyond, you can compare the effects of market volatilities on Delta Electronics and Bound 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 Bound. Check out your portfolio center. Please also check ongoing floating volatility patterns of Delta Electronics and Bound.
Diversification Opportunities for Delta Electronics and Bound
-0.17 | Correlation Coefficient |
Good diversification
The 3 months correlation between Delta and Bound is -0.17. Overlapping area represents the amount of risk that can be diversified away by holding Delta Electronics Public and Bound and Beyond in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Bound and Beyond 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 Bound. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Bound and Beyond has no effect on the direction of Delta Electronics i.e., Delta Electronics and Bound go up and down completely randomly.
Pair Corralation between Delta Electronics and Bound
Assuming the 90 days trading horizon Delta Electronics Public is expected to generate 1.93 times more return on investment than Bound. However, Delta Electronics is 1.93 times more volatile than Bound and Beyond. It trades about 0.06 of its potential returns per unit of risk. Bound and Beyond is currently generating about -0.06 per unit of risk. If you would invest 9,875 in Delta Electronics Public on September 15, 2024 and sell it today you would earn a total of 5,275 from holding Delta Electronics Public or generate 53.42% 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. Bound and Beyond
Performance |
| Timeline |
| Delta Electronics Public |
| Bound and Beyond |
Delta Electronics and Bound Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Delta Electronics and Bound
The main advantage of trading using opposite Delta Electronics and Bound positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Delta Electronics position performs unexpectedly, Bound 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 Bound will offset losses from the drop in Bound'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 |
| Bound vs. Delta Electronics Public | Bound vs. Delta Electronics Public | Bound vs. Airports of Thailand | Bound 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 FinTech Suite module to use AI to screen and filter profitable investment opportunities.
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