Correlation Between Future Park and Amata Summit
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By analyzing existing cross correlation between Future Park Leasehold and Amata Summit Growth, you can compare the effects of market volatilities on Future Park and Amata Summit 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 Future Park with a short position of Amata Summit. Check out your portfolio center. Please also check ongoing floating volatility patterns of Future Park and Amata Summit.
Diversification Opportunities for Future Park and Amata Summit
0.12 | Correlation Coefficient |
Average diversification
The 3 months correlation between Future and Amata is 0.12. Overlapping area represents the amount of risk that can be diversified away by holding Future Park Leasehold and Amata Summit Growth in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Amata Summit Growth and Future Park 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 Future Park Leasehold are associated (or correlated) with Amata Summit. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Amata Summit Growth has no effect on the direction of Future Park i.e., Future Park and Amata Summit go up and down completely randomly.
Pair Corralation between Future Park and Amata Summit
Assuming the 90 days trading horizon Future Park Leasehold is expected to generate 174.4 times more return on investment than Amata Summit. However, Future Park is 174.4 times more volatile than Amata Summit Growth. It trades about 0.12 of its potential returns per unit of risk. Amata Summit Growth is currently generating about 0.05 per unit of risk. If you would invest 1,430 in Future Park Leasehold on September 3, 2024 and sell it today you would lose (1,430) from holding Future Park Leasehold or give up 100.0% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 98.34% |
| Values | Daily Returns |
Future Park Leasehold vs. Amata Summit Growth
Performance |
| Timeline |
| Future Park Leasehold |
| Amata Summit Growth |
Future Park and Amata Summit Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Future Park and Amata Summit
The main advantage of trading using opposite Future Park and Amata Summit positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Future Park position performs unexpectedly, Amata Summit 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 Amata Summit will offset losses from the drop in Amata Summit's long position.| Future Park vs. SAF Special Steel | Future Park vs. Pato Chemical Industry | Future Park vs. Central Retail | Future Park vs. CPR Gomu Industrial |
| Amata Summit vs. WHA Premium Growth | Amata Summit vs. AIM Industrial Growth | Amata Summit vs. Bangkok Commercial Property | Amata Summit vs. Quality Houses Property |
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 Insider Screener module to find insiders across different sectors to evaluate their impact on performance.
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