Correlation Between Delta Electronics and II Group
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By analyzing existing cross correlation between Delta Electronics Public and II Group Public, you can compare the effects of market volatilities on Delta Electronics and II Group 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 II Group. Check out your portfolio center. Please also check ongoing floating volatility patterns of Delta Electronics and II Group.
Diversification Opportunities for Delta Electronics and II Group
0.08 | Correlation Coefficient |
Significant diversification
The 3 months correlation between Delta and IIG is 0.08. Overlapping area represents the amount of risk that can be diversified away by holding Delta Electronics Public and II Group Public in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on II Group Public 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 II Group. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of II Group Public has no effect on the direction of Delta Electronics i.e., Delta Electronics and II Group go up and down completely randomly.
Pair Corralation between Delta Electronics and II Group
Assuming the 90 days trading horizon Delta Electronics Public is expected to generate 3.58 times more return on investment than II Group. However, Delta Electronics is 3.58 times more volatile than II Group Public. It trades about 0.22 of its potential returns per unit of risk. II Group Public is currently generating about 0.25 per unit of risk. If you would invest 9,920 in Delta Electronics Public on September 13, 2024 and sell it today you would earn a total of 5,630 from holding Delta Electronics Public or generate 56.75% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Delta Electronics Public vs. II Group Public
Performance |
| Timeline |
| Delta Electronics Public |
| II Group Public |
Delta Electronics and II Group Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Delta Electronics and II Group
The main advantage of trading using opposite Delta Electronics and II Group positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Delta Electronics position performs unexpectedly, II Group 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 II Group will offset losses from the drop in II Group'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 |
| II Group vs. Delta Electronics Public | II Group vs. Delta Electronics Public | II Group vs. Airports of Thailand | II Group 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 Idea Optimizer module to use advanced portfolio builder with pre-computed micro ideas to build optimal portfolio .
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