Correlation Between Delta Electronics and NAT ABSOLUTE
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By analyzing existing cross correlation between Delta Electronics Public and NAT ABSOLUTE TECHNOLOGIES, you can compare the effects of market volatilities on Delta Electronics and NAT ABSOLUTE 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 NAT ABSOLUTE. Check out your portfolio center. Please also check ongoing floating volatility patterns of Delta Electronics and NAT ABSOLUTE.
Diversification Opportunities for Delta Electronics and NAT ABSOLUTE
-0.29 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Delta and NAT is -0.29. Overlapping area represents the amount of risk that can be diversified away by holding Delta Electronics Public and NAT ABSOLUTE TECHNOLOGIES in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on NAT ABSOLUTE TECHNOLOGIES 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 NAT ABSOLUTE. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of NAT ABSOLUTE TECHNOLOGIES has no effect on the direction of Delta Electronics i.e., Delta Electronics and NAT ABSOLUTE go up and down completely randomly.
Pair Corralation between Delta Electronics and NAT ABSOLUTE
Assuming the 90 days trading horizon Delta Electronics Public is expected to under-perform the NAT ABSOLUTE. In addition to that, Delta Electronics is 4.68 times more volatile than NAT ABSOLUTE TECHNOLOGIES. It trades about -0.13 of its total potential returns per unit of risk. NAT ABSOLUTE TECHNOLOGIES is currently generating about -0.48 per unit of volatility. If you would invest 446.00 in NAT ABSOLUTE TECHNOLOGIES on November 27, 2024 and sell it today you would lose (64.00) from holding NAT ABSOLUTE TECHNOLOGIES or give up 14.35% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Delta Electronics Public vs. NAT ABSOLUTE TECHNOLOGIES
Performance |
| Timeline |
| Delta Electronics Public |
| NAT ABSOLUTE TECHNOLOGIES |
Delta Electronics and NAT ABSOLUTE Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Delta Electronics and NAT ABSOLUTE
The main advantage of trading using opposite Delta Electronics and NAT ABSOLUTE positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Delta Electronics position performs unexpectedly, NAT ABSOLUTE 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 NAT ABSOLUTE will offset losses from the drop in NAT ABSOLUTE'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 |
| NAT ABSOLUTE vs. Tata Steel Public | NAT ABSOLUTE vs. Chiangmai Frozen Foods | NAT ABSOLUTE vs. Information and Communication | NAT ABSOLUTE vs. Earth Tech Environment |
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 Sectors module to list of equity sectors categorizing publicly traded companies based on their primary business activities.
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