Correlation Between Jasmine International and AEON Thana
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By analyzing existing cross correlation between Jasmine International Public and AEON Thana Sinsap, you can compare the effects of market volatilities on Jasmine International and AEON Thana 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 Jasmine International with a short position of AEON Thana. Check out your portfolio center. Please also check ongoing floating volatility patterns of Jasmine International and AEON Thana.
Diversification Opportunities for Jasmine International and AEON Thana
-0.04 | Correlation Coefficient |
Good diversification
The 3 months correlation between Jasmine and AEON is -0.04. Overlapping area represents the amount of risk that can be diversified away by holding Jasmine International Public and AEON Thana Sinsap in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on AEON Thana Sinsap and Jasmine International 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 Jasmine International Public are associated (or correlated) with AEON Thana. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of AEON Thana Sinsap has no effect on the direction of Jasmine International i.e., Jasmine International and AEON Thana go up and down completely randomly.
Pair Corralation between Jasmine International and AEON Thana
Assuming the 90 days trading horizon Jasmine International is expected to generate 24.01 times less return on investment than AEON Thana. But when comparing it to its historical volatility, Jasmine International Public is 21.66 times less risky than AEON Thana. It trades about 0.07 of its potential returns per unit of risk. AEON Thana Sinsap is currently generating about 0.07 of returns per unit of risk over similar time horizon. If you would invest 16,575 in AEON Thana Sinsap on September 12, 2024 and sell it today you would earn a total of 0.00 from holding AEON Thana Sinsap or generate 0.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 99.38% |
| Values | Daily Returns |
Jasmine International Public vs. AEON Thana Sinsap
Performance |
| Timeline |
| Jasmine International |
| AEON Thana Sinsap |
Jasmine International and AEON Thana Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Jasmine International and AEON Thana
The main advantage of trading using opposite Jasmine International and AEON Thana positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Jasmine International position performs unexpectedly, AEON Thana 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 AEON Thana will offset losses from the drop in AEON Thana's long position.| Jasmine International vs. Synnex Public | Jasmine International vs. SVI Public | Jasmine International vs. Interlink Communication Public | Jasmine International vs. The Erawan Group |
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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 Premium Stories module to follow Macroaxis premium stories from verified contributors across different equity types, categories and coverage scope.
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