Correlation Between GFPT Public and LH Hotel
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By analyzing existing cross correlation between GFPT Public and LH Hotel Leasehold, you can compare the effects of market volatilities on GFPT Public and LH Hotel 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 GFPT Public with a short position of LH Hotel. Check out your portfolio center. Please also check ongoing floating volatility patterns of GFPT Public and LH Hotel.
Diversification Opportunities for GFPT Public and LH Hotel
0.07 | Correlation Coefficient |
Significant diversification
The 3 months correlation between GFPT and LHHOTEL is 0.07. Overlapping area represents the amount of risk that can be diversified away by holding GFPT Public and LH Hotel Leasehold in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on LH Hotel Leasehold and GFPT Public 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 GFPT Public are associated (or correlated) with LH Hotel. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of LH Hotel Leasehold has no effect on the direction of GFPT Public i.e., GFPT Public and LH Hotel go up and down completely randomly.
Pair Corralation between GFPT Public and LH Hotel
Assuming the 90 days trading horizon GFPT Public is expected to under-perform the LH Hotel. In addition to that, GFPT Public is 1.61 times more volatile than LH Hotel Leasehold. It trades about -0.02 of its total potential returns per unit of risk. LH Hotel Leasehold is currently generating about 0.42 per unit of volatility. If you would invest 1,238 in LH Hotel Leasehold on September 14, 2024 and sell it today you would earn a total of 102.00 from holding LH Hotel Leasehold or generate 8.24% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
GFPT Public vs. LH Hotel Leasehold
Performance |
| Timeline |
| GFPT Public |
| LH Hotel Leasehold |
GFPT Public and LH Hotel Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with GFPT Public and LH Hotel
The main advantage of trading using opposite GFPT Public and LH Hotel positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if GFPT Public position performs unexpectedly, LH Hotel 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 LH Hotel will offset losses from the drop in LH Hotel's long position.| GFPT Public vs. Charoen Pokphand Foods | GFPT Public vs. Hana Microelectronics Public | GFPT Public vs. AP Public | GFPT Public vs. Thai Vegetable Oil |
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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 Pattern Recognition module to use different Pattern Recognition models to time the market across multiple global exchanges.
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