Correlation Between Delta Electronics and Future Park
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By analyzing existing cross correlation between Delta Electronics Public and Future Park Leasehold, you can compare the effects of market volatilities on Delta Electronics and Future Park 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 Future Park. Check out your portfolio center. Please also check ongoing floating volatility patterns of Delta Electronics and Future Park.
Diversification Opportunities for Delta Electronics and Future Park
0.33 | Correlation Coefficient |
Weak diversification
The 3 months correlation between Delta and Future is 0.33. Overlapping area represents the amount of risk that can be diversified away by holding Delta Electronics Public and Future Park Leasehold in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Future Park 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 Future Park. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Future Park Leasehold has no effect on the direction of Delta Electronics i.e., Delta Electronics and Future Park go up and down completely randomly.
Pair Corralation between Delta Electronics and Future Park
Assuming the 90 days trading horizon Delta Electronics Public is expected to generate 0.21 times more return on investment than Future Park. However, Delta Electronics Public is 4.83 times less risky than Future Park. It trades about 0.17 of its potential returns per unit of risk. Future Park Leasehold is currently generating about -0.22 per unit of risk. If you would invest 12,700 in Delta Electronics Public on August 28, 2024 and sell it today you would earn a total of 1,850 from holding Delta Electronics Public or generate 14.57% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Delta Electronics Public vs. Future Park Leasehold
Performance |
| Timeline |
| Delta Electronics Public |
| Future Park Leasehold |
Delta Electronics and Future Park Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Delta Electronics and Future Park
The main advantage of trading using opposite Delta Electronics and Future Park positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Delta Electronics position performs unexpectedly, Future Park 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 Future Park will offset losses from the drop in Future Park's long position.| Delta Electronics vs. AP Public | Delta Electronics vs. Jasmine International Public | Delta Electronics vs. Asia Plus Group | Delta Electronics vs. Bangkok Aviation Fuel |
| Future Park vs. Delta Electronics Public | Future Park vs. Delta Electronics Public | Future Park vs. Airports of Thailand | Future Park 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 Portfolio Backtesting module to avoid under-diversification and over-optimization by backtesting your portfolios.
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