Correlation Between Delta Electronics and INET Leasehold
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By analyzing existing cross correlation between Delta Electronics Public and INET Leasehold REIT, you can compare the effects of market volatilities on Delta Electronics and INET Leasehold 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 INET Leasehold. Check out your portfolio center. Please also check ongoing floating volatility patterns of Delta Electronics and INET Leasehold.
Diversification Opportunities for Delta Electronics and INET Leasehold
0.06 | Correlation Coefficient |
Significant diversification
The 3 months correlation between Delta and INET is 0.06. Overlapping area represents the amount of risk that can be diversified away by holding Delta Electronics Public and INET Leasehold REIT in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on INET Leasehold REIT 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 INET Leasehold. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of INET Leasehold REIT has no effect on the direction of Delta Electronics i.e., Delta Electronics and INET Leasehold go up and down completely randomly.
Pair Corralation between Delta Electronics and INET Leasehold
Assuming the 90 days trading horizon Delta Electronics Public is expected to generate 7.17 times more return on investment than INET Leasehold. However, Delta Electronics is 7.17 times more volatile than INET Leasehold REIT. It trades about 0.13 of its potential returns per unit of risk. INET Leasehold REIT is currently generating about 0.05 per unit of risk. If you would invest 9,920 in Delta Electronics Public on August 29, 2024 and sell it today you would earn a total of 5,230 from holding Delta Electronics Public or generate 52.72% 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. INET Leasehold REIT
Performance |
| Timeline |
| Delta Electronics Public |
| INET Leasehold REIT |
Delta Electronics and INET Leasehold Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Delta Electronics and INET Leasehold
The main advantage of trading using opposite Delta Electronics and INET Leasehold positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Delta Electronics position performs unexpectedly, INET Leasehold 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 INET Leasehold will offset losses from the drop in INET Leasehold'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 |
| INET Leasehold vs. Impact Growth REIT | INET Leasehold vs. Internet Thailand Public | INET Leasehold vs. CPN Retail Growth | INET Leasehold vs. Golden Ventures Leasehold |
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 Options Analysis module to analyze and evaluate options and option chains as a potential hedge for your portfolios.
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