Correlation Between Grande Hospitality and Susco Public
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By analyzing existing cross correlation between Grande Hospitality Real and Susco Public, you can compare the effects of market volatilities on Grande Hospitality and Susco Public 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 Susco Public. Check out your portfolio center. Please also check ongoing floating volatility patterns of Grande Hospitality and Susco Public.
Diversification Opportunities for Grande Hospitality and Susco Public
0.66 | Correlation Coefficient |
Poor diversification
The 3 months correlation between Grande and Susco is 0.66. Overlapping area represents the amount of risk that can be diversified away by holding Grande Hospitality Real and Susco Public in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Susco Public 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 Susco Public. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Susco Public has no effect on the direction of Grande Hospitality i.e., Grande Hospitality and Susco Public go up and down completely randomly.
Pair Corralation between Grande Hospitality and Susco Public
Assuming the 90 days trading horizon Grande Hospitality Real is expected to generate 1.49 times more return on investment than Susco Public. However, Grande Hospitality is 1.49 times more volatile than Susco Public. It trades about -0.02 of its potential returns per unit of risk. Susco Public is currently generating about -0.29 per unit of risk. If you would invest 655.00 in Grande Hospitality Real on September 1, 2024 and sell it today you would lose (5.00) from holding Grande Hospitality Real or give up 0.76% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Significant |
| Accuracy | 95.65% |
| Values | Daily Returns |
Grande Hospitality Real vs. Susco Public
Performance |
| Timeline |
| Grande Hospitality Real |
| Susco Public |
Grande Hospitality and Susco Public Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Grande Hospitality and Susco Public
The main advantage of trading using opposite Grande Hospitality and Susco Public positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Grande Hospitality position performs unexpectedly, Susco Public 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 Susco Public will offset losses from the drop in Susco Public's long position.| Grande Hospitality vs. Warrix Sport PCL | Grande Hospitality vs. CHAOSUA FOODS INDUSTRY | Grande Hospitality vs. Food Moments PCL | Grande Hospitality vs. NSL Foods Public |
| Susco Public vs. Sawang Export Public | Susco Public vs. Quality Houses Hotel | Susco Public vs. Grande Hospitality Real | Susco Public vs. City Steel Public |
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 Equity Search module to search for actively traded equities including funds and ETFs from over 30 global markets.
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