Correlation Between Ticon Freehold and Golden Ventures
Can any of the company-specific risk be diversified away by investing in both Ticon Freehold and Golden Ventures at the same time? Although using a correlation coefficient on its own may not help to predict future stock returns, this module helps to understand the diversifiable risk of combining Ticon Freehold and Golden Ventures into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Ticon Freehold and and Golden Ventures Leasehold, you can compare the effects of market volatilities on Ticon Freehold and Golden Ventures 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 Ticon Freehold with a short position of Golden Ventures. Check out your portfolio center. Please also check ongoing floating volatility patterns of Ticon Freehold and Golden Ventures.
Diversification Opportunities for Ticon Freehold and Golden Ventures
0.24 | Correlation Coefficient |
Modest diversification
The 3 months correlation between Ticon and Golden is 0.24. Overlapping area represents the amount of risk that can be diversified away by holding Ticon Freehold and and Golden Ventures Leasehold in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Golden Ventures Leasehold and Ticon Freehold 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 Ticon Freehold and are associated (or correlated) with Golden Ventures. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Golden Ventures Leasehold has no effect on the direction of Ticon Freehold i.e., Ticon Freehold and Golden Ventures go up and down completely randomly.
Pair Corralation between Ticon Freehold and Golden Ventures
Assuming the 90 days trading horizon Ticon Freehold and is expected to under-perform the Golden Ventures. But the stock apears to be less risky and, when comparing its historical volatility, Ticon Freehold and is 1.14 times less risky than Golden Ventures. The stock trades about -0.05 of its potential returns per unit of risk. The Golden Ventures Leasehold is currently generating about 0.11 of returns per unit of risk over similar time horizon. If you would invest 660.00 in Golden Ventures Leasehold on August 29, 2024 and sell it today you would earn a total of 25.00 from holding Golden Ventures Leasehold or generate 3.79% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 95.65% |
| Values | Daily Returns |
Ticon Freehold and vs. Golden Ventures Leasehold
Performance |
| Timeline |
| Ticon Freehold |
| Golden Ventures Leasehold |
Ticon Freehold and Golden Ventures Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Ticon Freehold and Golden Ventures
The main advantage of trading using opposite Ticon Freehold and Golden Ventures positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Ticon Freehold position performs unexpectedly, Golden Ventures 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 Golden Ventures will offset losses from the drop in Golden Ventures' long position.| Ticon Freehold vs. WHA Premium Growth | Ticon Freehold vs. CPN Retail Growth | Ticon Freehold vs. Impact Growth REIT | Ticon Freehold vs. Golden Ventures Leasehold |
| Golden Ventures vs. Impact Growth REIT | Golden Ventures vs. CPN Retail Growth | Golden Ventures vs. WHA Premium Growth | Golden Ventures vs. LH Shopping Centers |
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 Price Transformation module to use Price Transformation models to analyze the depth of different equity instruments across global markets.
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