Correlation Between Delta Electronics and Bhiraj Office
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By analyzing existing cross correlation between Delta Electronics Public and Bhiraj Office Leasehold, you can compare the effects of market volatilities on Delta Electronics and Bhiraj Office 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 Bhiraj Office. Check out your portfolio center. Please also check ongoing floating volatility patterns of Delta Electronics and Bhiraj Office.
Diversification Opportunities for Delta Electronics and Bhiraj Office
0.5 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between Delta and Bhiraj is 0.5. Overlapping area represents the amount of risk that can be diversified away by holding Delta Electronics Public and Bhiraj Office Leasehold in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Bhiraj Office Leasehold 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 Bhiraj Office. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Bhiraj Office Leasehold has no effect on the direction of Delta Electronics i.e., Delta Electronics and Bhiraj Office go up and down completely randomly.
Pair Corralation between Delta Electronics and Bhiraj Office
Assuming the 90 days trading horizon Delta Electronics Public is expected to generate 3.35 times more return on investment than Bhiraj Office. However, Delta Electronics is 3.35 times more volatile than Bhiraj Office Leasehold. It trades about 0.2 of its potential returns per unit of risk. Bhiraj Office Leasehold is currently generating about 0.11 per unit of risk. If you would invest 12,700 in Delta Electronics Public on August 29, 2024 and sell it today you would earn a total of 2,450 from holding Delta Electronics Public or generate 19.29% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Delta Electronics Public vs. Bhiraj Office Leasehold
Performance |
| Timeline |
| Delta Electronics Public |
| Bhiraj Office Leasehold |
Delta Electronics and Bhiraj Office Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Delta Electronics and Bhiraj Office
The main advantage of trading using opposite Delta Electronics and Bhiraj Office positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Delta Electronics position performs unexpectedly, Bhiraj Office 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 Bhiraj Office will offset losses from the drop in Bhiraj Office's long position.| Delta Electronics vs. Airports of Thailand | Delta Electronics vs. Hana Microelectronics Public | Delta Electronics vs. Advanced Info Service | Delta Electronics vs. Kasikornbank Public |
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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 Equity Valuation module to check real value of public entities based on technical and fundamental data.
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