Correlation Between Hydrogen Freehold and MFC Nichada
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By analyzing existing cross correlation between Hydrogen Freehold Leasehold and MFC Nichada Thani Property, you can compare the effects of market volatilities on Hydrogen Freehold and MFC Nichada 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 Hydrogen Freehold with a short position of MFC Nichada. Check out your portfolio center. Please also check ongoing floating volatility patterns of Hydrogen Freehold and MFC Nichada.
Diversification Opportunities for Hydrogen Freehold and MFC Nichada
-0.09 | Correlation Coefficient |
Good diversification
The 3 months correlation between Hydrogen and MFC is -0.09. Overlapping area represents the amount of risk that can be diversified away by holding Hydrogen Freehold Leasehold and MFC Nichada Thani Property in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on MFC Nichada Thani and Hydrogen Freehold 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 Hydrogen Freehold Leasehold are associated (or correlated) with MFC Nichada. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of MFC Nichada Thani has no effect on the direction of Hydrogen Freehold i.e., Hydrogen Freehold and MFC Nichada go up and down completely randomly.
Pair Corralation between Hydrogen Freehold and MFC Nichada
Assuming the 90 days trading horizon Hydrogen Freehold is expected to generate 2224.13 times less return on investment than MFC Nichada. But when comparing it to its historical volatility, Hydrogen Freehold Leasehold is 232.54 times less risky than MFC Nichada. It trades about 0.04 of its potential returns per unit of risk. MFC Nichada Thani Property is currently generating about 0.35 of returns per unit of risk over similar time horizon. If you would invest 485.00 in MFC Nichada Thani Property on September 2, 2024 and sell it today you would earn a total of 60.00 from holding MFC Nichada Thani Property or generate 12.37% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 75.31% |
| Values | Daily Returns |
Hydrogen Freehold Leasehold vs. MFC Nichada Thani Property
Performance |
| Timeline |
| Hydrogen Freehold |
| MFC Nichada Thani |
Hydrogen Freehold and MFC Nichada Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Hydrogen Freehold and MFC Nichada
The main advantage of trading using opposite Hydrogen Freehold and MFC Nichada positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Hydrogen Freehold position performs unexpectedly, MFC Nichada 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 MFC Nichada will offset losses from the drop in MFC Nichada's long position.| Hydrogen Freehold vs. LH Shopping Centers | Hydrogen Freehold vs. HEMARAJ INDUSTRIAL PROPERTY | Hydrogen Freehold vs. Land and Houses |
| MFC Nichada vs. MFC Strategic Storage | MFC Nichada vs. MFC Nichada Thani Property | MFC Nichada vs. HEMARAJ INDUSTRIAL PROPERTY | MFC Nichada vs. Land and Houses |
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 Forecasting module to use basic forecasting models to generate price predictions and determine price momentum.
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