Correlation Between Heng Leasing and KTBST Mixed
Specify exactly 2 symbols:
By analyzing existing cross correlation between Heng Leasing Capital and KTBST Mixed Leasehold, you can compare the effects of market volatilities on Heng Leasing and KTBST Mixed 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 Heng Leasing with a short position of KTBST Mixed. Check out your portfolio center. Please also check ongoing floating volatility patterns of Heng Leasing and KTBST Mixed.
Diversification Opportunities for Heng Leasing and KTBST Mixed
0.59 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between Heng and KTBST is 0.59. Overlapping area represents the amount of risk that can be diversified away by holding Heng Leasing Capital and KTBST Mixed Leasehold in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on KTBST Mixed Leasehold and Heng Leasing 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 Heng Leasing Capital are associated (or correlated) with KTBST Mixed. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of KTBST Mixed Leasehold has no effect on the direction of Heng Leasing i.e., Heng Leasing and KTBST Mixed go up and down completely randomly.
Pair Corralation between Heng Leasing and KTBST Mixed
Assuming the 90 days trading horizon Heng Leasing Capital is expected to generate 2.24 times more return on investment than KTBST Mixed. However, Heng Leasing is 2.24 times more volatile than KTBST Mixed Leasehold. It trades about 0.01 of its potential returns per unit of risk. KTBST Mixed Leasehold is currently generating about -0.03 per unit of risk. If you would invest 111.00 in Heng Leasing Capital on November 2, 2024 and sell it today you would earn a total of 0.00 from holding Heng Leasing Capital or generate 0.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Heng Leasing Capital vs. KTBST Mixed Leasehold
Performance |
| Timeline |
| Heng Leasing Capital |
| KTBST Mixed Leasehold |
Heng Leasing and KTBST Mixed Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Heng Leasing and KTBST Mixed
The main advantage of trading using opposite Heng Leasing and KTBST Mixed positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Heng Leasing position performs unexpectedly, KTBST Mixed 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 KTBST Mixed will offset losses from the drop in KTBST Mixed's long position.| Heng Leasing vs. Bangkok Commercial Asset | Heng Leasing vs. Siam Global House | Heng Leasing vs. Dohome Public | Heng Leasing vs. JMT Network Services |
| KTBST Mixed vs. Ticon Freehold and | KTBST Mixed vs. CPN Retail Growth | KTBST Mixed vs. Golden Ventures Leasehold | KTBST Mixed vs. Impact Growth REIT |
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 Global Correlations module to find global opportunities by holding instruments from different markets.
Other Complementary Tools
| Risk-Return Analysis View associations between returns expected from investment and the risk you assume | |
| Economic Indicators Top statistical indicators that provide insights into how an economy is performing | |
| Portfolio Volatility Check portfolio volatility and analyze historical return density to properly model market risk | |
| Theme Ratings Determine theme ratings based on digital equity recommendations. Macroaxis theme ratings are based on combination of fundamental analysis and risk-adjusted market performance | |
| Efficient Frontier Plot and analyze your portfolio and positions against risk-return landscape of the market. |