Correlation Between Dusit Thani and Grande Hospitality
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By analyzing existing cross correlation between Dusit Thani Freehold and Grande Hospitality Real, you can compare the effects of market volatilities on Dusit Thani and Grande Hospitality 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 Dusit Thani with a short position of Grande Hospitality. Check out your portfolio center. Please also check ongoing floating volatility patterns of Dusit Thani and Grande Hospitality.
Diversification Opportunities for Dusit Thani and Grande Hospitality
0.23 | Correlation Coefficient |
Modest diversification
The 3 months correlation between Dusit and Grande is 0.23. Overlapping area represents the amount of risk that can be diversified away by holding Dusit Thani Freehold and Grande Hospitality Real in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Grande Hospitality Real and Dusit Thani 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 Dusit Thani Freehold are associated (or correlated) with Grande Hospitality. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Grande Hospitality Real has no effect on the direction of Dusit Thani i.e., Dusit Thani and Grande Hospitality go up and down completely randomly.
Pair Corralation between Dusit Thani and Grande Hospitality
Assuming the 90 days trading horizon Dusit Thani Freehold is expected to generate 115.88 times more return on investment than Grande Hospitality. However, Dusit Thani is 115.88 times more volatile than Grande Hospitality Real. It trades about 0.13 of its potential returns per unit of risk. Grande Hospitality Real is currently generating about -0.02 per unit of risk. If you would invest 0.00 in Dusit Thani Freehold on September 3, 2024 and sell it today you would earn a total of 496.00 from holding Dusit Thani Freehold or generate 9.223372036854776E16% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Dusit Thani Freehold vs. Grande Hospitality Real
Performance |
| Timeline |
| Dusit Thani Freehold |
| Grande Hospitality Real |
Dusit Thani and Grande Hospitality Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Dusit Thani and Grande Hospitality
The main advantage of trading using opposite Dusit Thani and Grande Hospitality positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Dusit Thani position performs unexpectedly, Grande Hospitality 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 Grande Hospitality will offset losses from the drop in Grande Hospitality's long position.| Dusit Thani vs. LH Shopping Centers | Dusit Thani vs. Quality Houses Property | Dusit Thani vs. Impact Growth REIT | Dusit Thani vs. CPN Retail Growth |
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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 Portfolio Anywhere module to track or share privately all of your investments from the convenience of any device.
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