Correlation Between Grande Hospitality and Siam Wellness
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By analyzing existing cross correlation between Grande Hospitality Real and Siam Wellness Group, you can compare the effects of market volatilities on Grande Hospitality and Siam Wellness 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 Grande Hospitality with a short position of Siam Wellness. Check out your portfolio center. Please also check ongoing floating volatility patterns of Grande Hospitality and Siam Wellness.
Diversification Opportunities for Grande Hospitality and Siam Wellness
0.38 | Correlation Coefficient |
Weak diversification
The 3 months correlation between Grande and Siam is 0.38. Overlapping area represents the amount of risk that can be diversified away by holding Grande Hospitality Real and Siam Wellness Group in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Siam Wellness Group and Grande Hospitality 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 Grande Hospitality Real are associated (or correlated) with Siam Wellness. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Siam Wellness Group has no effect on the direction of Grande Hospitality i.e., Grande Hospitality and Siam Wellness go up and down completely randomly.
Pair Corralation between Grande Hospitality and Siam Wellness
Assuming the 90 days trading horizon Grande Hospitality Real is expected to under-perform the Siam Wellness. But the stock apears to be less risky and, when comparing its historical volatility, Grande Hospitality Real is 1.93 times less risky than Siam Wellness. The stock trades about -0.04 of its potential returns per unit of risk. The Siam Wellness Group is currently generating about 0.01 of returns per unit of risk over similar time horizon. If you would invest 719.00 in Siam Wellness Group on August 31, 2024 and sell it today you would earn a total of 1.00 from holding Siam Wellness Group or generate 0.14% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Grande Hospitality Real vs. Siam Wellness Group
Performance |
| Timeline |
| Grande Hospitality Real |
| Siam Wellness Group |
Grande Hospitality and Siam Wellness Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Grande Hospitality and Siam Wellness
The main advantage of trading using opposite Grande Hospitality and Siam Wellness positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Grande Hospitality position performs unexpectedly, Siam Wellness 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 Siam Wellness will offset losses from the drop in Siam Wellness' long position.| Grande Hospitality vs. LH Shopping Centers | Grande Hospitality vs. HEMARAJ INDUSTRIAL PROPERTY | Grande Hospitality vs. Land and Houses |
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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 Top Crypto Exchanges module to search and analyze digital assets across top global cryptocurrency exchanges.
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