Correlation Between Dusit Thani and Sri Panwa
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By analyzing existing cross correlation between Dusit Thani Freehold and Sri panwa Hospitality, you can compare the effects of market volatilities on Dusit Thani and Sri Panwa 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 Sri Panwa. Check out your portfolio center. Please also check ongoing floating volatility patterns of Dusit Thani and Sri Panwa.
Diversification Opportunities for Dusit Thani and Sri Panwa
0.35 | Correlation Coefficient |
Weak diversification
The 3 months correlation between Dusit and Sri is 0.35. Overlapping area represents the amount of risk that can be diversified away by holding Dusit Thani Freehold and Sri panwa Hospitality in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Sri panwa Hospitality 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 Sri Panwa. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Sri panwa Hospitality has no effect on the direction of Dusit Thani i.e., Dusit Thani and Sri Panwa go up and down completely randomly.
Pair Corralation between Dusit Thani and Sri Panwa
Assuming the 90 days trading horizon Dusit Thani is expected to generate 4.85 times less return on investment than Sri Panwa. But when comparing it to its historical volatility, Dusit Thani Freehold is 1.04 times less risky than Sri Panwa. It trades about 0.03 of its potential returns per unit of risk. Sri panwa Hospitality is currently generating about 0.15 of returns per unit of risk over similar time horizon. If you would invest 491.00 in Sri panwa Hospitality on September 4, 2024 and sell it today you would earn a total of 84.00 from holding Sri panwa Hospitality or generate 17.11% 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. Sri panwa Hospitality
Performance |
| Timeline |
| Dusit Thani Freehold |
| Sri panwa Hospitality |
Dusit Thani and Sri Panwa Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Dusit Thani and Sri Panwa
The main advantage of trading using opposite Dusit Thani and Sri Panwa positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Dusit Thani position performs unexpectedly, Sri Panwa 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 Sri Panwa will offset losses from the drop in Sri Panwa's long position.| Dusit Thani vs. CPN Retail Growth | Dusit Thani vs. Grande Hospitality Real | Dusit Thani vs. The Erawan Group | Dusit Thani vs. Impact Growth REIT |
| Sri Panwa vs. Dusit Thani Freehold | Sri Panwa vs. LH Hotel Leasehold | Sri Panwa vs. LH Shopping Centers | Sri Panwa vs. Grande Hospitality Real |
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 Idea Breakdown module to analyze constituents of all Macroaxis ideas. Macroaxis investment ideas are predefined, sector-focused investing themes.
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