Correlation Between Future Park and Delta Electronics
Specify exactly 2 symbols:
By analyzing existing cross correlation between Future Park Leasehold and Delta Electronics Public, you can compare the effects of market volatilities on Future Park and Delta Electronics 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 Delta Electronics. Check out your portfolio center. Please also check ongoing floating volatility patterns of Future Park and Delta Electronics.
Diversification Opportunities for Future Park and Delta Electronics
0.05 | Correlation Coefficient |
Significant diversification
The 3 months correlation between Future and Delta is 0.05. Overlapping area represents the amount of risk that can be diversified away by holding Future Park Leasehold and Delta Electronics Public in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Delta Electronics Public 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 Delta Electronics. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Delta Electronics Public has no effect on the direction of Future Park i.e., Future Park and Delta Electronics go up and down completely randomly.
Pair Corralation between Future Park and Delta Electronics
Assuming the 90 days trading horizon Future Park Leasehold is expected to generate 32.67 times more return on investment than Delta Electronics. However, Future Park is 32.67 times more volatile than Delta Electronics Public. It trades about 0.12 of its potential returns per unit of risk. Delta Electronics Public is currently generating about 0.07 per unit of risk. If you would invest 1,480 in Future Park Leasehold on August 31, 2024 and sell it today you would lose (1,480) 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 | 98.28% |
| Values | Daily Returns |
Future Park Leasehold vs. Delta Electronics Public
Performance |
| Timeline |
| Future Park Leasehold |
| Delta Electronics Public |
Future Park and Delta Electronics Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Future Park and Delta Electronics
The main advantage of trading using opposite Future Park and Delta Electronics positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Future Park position performs unexpectedly, Delta Electronics 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 Delta Electronics will offset losses from the drop in Delta Electronics' long position.| Future Park vs. LH Shopping Centers | Future Park vs. HEMARAJ INDUSTRIAL PROPERTY | Future Park vs. Land and Houses |
| Delta Electronics vs. Delta Electronics Public | Delta Electronics vs. PTT Public | Delta Electronics vs. CP ALL Public | Delta Electronics vs. The Siam Commercial |
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 Money Managers module to screen money managers from public funds and ETFs managed around the world.
Other Complementary Tools
| Fundamental Analysis View fundamental data based on most recent published financial statements | |
| Portfolio Center All portfolio management and optimization tools to improve performance of your portfolios | |
| Portfolio Anywhere Track or share privately all of your investments from the convenience of any device | |
| Financial Widgets Easily integrated Macroaxis content with over 30 different plug-and-play financial widgets | |
| Stocks Directory Find actively traded stocks across global markets |