Correlation Between Triller and Grab Holdings
Can any of the company-specific risk be diversified away by investing in both Triller and Grab Holdings at the same time? Although using a correlation coefficient on its own may not help to predict future stock returns, this module helps to understand the diversifiable risk of combining Triller and Grab Holdings into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Triller Group and Grab Holdings, you can compare the effects of market volatilities on Triller and Grab Holdings 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 Triller with a short position of Grab Holdings. Check out your portfolio center. Please also check ongoing floating volatility patterns of Triller and Grab Holdings.
Diversification Opportunities for Triller and Grab Holdings
-0.3 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Triller and Grab is -0.3. Overlapping area represents the amount of risk that can be diversified away by holding Triller Group and Grab Holdings in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Grab Holdings and Triller 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 Triller Group are associated (or correlated) with Grab Holdings. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Grab Holdings has no effect on the direction of Triller i.e., Triller and Grab Holdings go up and down completely randomly.
Pair Corralation between Triller and Grab Holdings
Assuming the 90 days horizon Triller Group is expected to under-perform the Grab Holdings. In addition to that, Triller is 6.63 times more volatile than Grab Holdings. It trades about -0.05 of its total potential returns per unit of risk. Grab Holdings is currently generating about -0.04 per unit of volatility. If you would invest 474.00 in Grab Holdings on November 2, 2024 and sell it today you would lose (10.00) from holding Grab Holdings or give up 2.11% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Triller Group vs. Grab Holdings
Performance |
| Timeline |
| Triller Group |
| Grab Holdings |
Triller and Grab Holdings Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Triller and Grab Holdings
The main advantage of trading using opposite Triller and Grab Holdings positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Triller position performs unexpectedly, Grab Holdings 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 Grab Holdings will offset losses from the drop in Grab Holdings' long position.| Triller vs. Ralph Lauren Corp | Triller vs. Compania Cervecerias Unidas | Triller vs. Molson Coors Brewing | Triller vs. Philip Morris International |
| Grab Holdings vs. LYFT Inc | Grab Holdings vs. Kingsoft Cloud Holdings | Grab Holdings vs. AMTD Digital | Grab Holdings vs. Uber Technologies |
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 Sign In To Macroaxis module to sign in to explore Macroaxis' wealth optimization platform and fintech modules.
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