Correlation Between Delta Electronics and Porn Prom
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By analyzing existing cross correlation between Delta Electronics Public and Porn Prom Metal, you can compare the effects of market volatilities on Delta Electronics and Porn Prom 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 Porn Prom. Check out your portfolio center. Please also check ongoing floating volatility patterns of Delta Electronics and Porn Prom.
Diversification Opportunities for Delta Electronics and Porn Prom
-0.32 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Delta and Porn is -0.32. Overlapping area represents the amount of risk that can be diversified away by holding Delta Electronics Public and Porn Prom Metal in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Porn Prom Metal 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 Porn Prom. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Porn Prom Metal has no effect on the direction of Delta Electronics i.e., Delta Electronics and Porn Prom go up and down completely randomly.
Pair Corralation between Delta Electronics and Porn Prom
Assuming the 90 days trading horizon Delta Electronics Public is expected to generate 1.98 times more return on investment than Porn Prom. However, Delta Electronics is 1.98 times more volatile than Porn Prom Metal. It trades about 0.21 of its potential returns per unit of risk. Porn Prom Metal is currently generating about -0.22 per unit of risk. If you would invest 9,920 in Delta Electronics Public on August 31, 2024 and sell it today you would earn a total of 5,130 from holding Delta Electronics Public or generate 51.71% 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. Porn Prom Metal
Performance |
| Timeline |
| Delta Electronics Public |
| Porn Prom Metal |
Delta Electronics and Porn Prom Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Delta Electronics and Porn Prom
The main advantage of trading using opposite Delta Electronics and Porn Prom positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Delta Electronics position performs unexpectedly, Porn Prom 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 Porn Prom will offset losses from the drop in Porn Prom'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 |
| Porn Prom vs. Project Planning Service | Porn Prom vs. Panjawattana Plastic Public | Porn Prom vs. Prodigy Public | Porn Prom vs. The Erawan Group |
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 Volatility Analysis module to get historical volatility and risk analysis based on latest market data.
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