Correlation Between Jay Mart and Bhiraj Office
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By analyzing existing cross correlation between Jay Mart Public and Bhiraj Office Leasehold, you can compare the effects of market volatilities on Jay Mart and Bhiraj Office 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 Jay Mart with a short position of Bhiraj Office. Check out your portfolio center. Please also check ongoing floating volatility patterns of Jay Mart and Bhiraj Office.
Diversification Opportunities for Jay Mart and Bhiraj Office
-0.1 | Correlation Coefficient |
Good diversification
The 3 months correlation between Jay and Bhiraj is -0.1. Overlapping area represents the amount of risk that can be diversified away by holding Jay Mart Public and Bhiraj Office Leasehold in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Bhiraj Office Leasehold and Jay Mart 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 Jay Mart Public are associated (or correlated) with Bhiraj Office. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Bhiraj Office Leasehold has no effect on the direction of Jay Mart i.e., Jay Mart and Bhiraj Office go up and down completely randomly.
Pair Corralation between Jay Mart and Bhiraj Office
Assuming the 90 days trading horizon Jay Mart Public is expected to under-perform the Bhiraj Office. In addition to that, Jay Mart is 4.12 times more volatile than Bhiraj Office Leasehold. It trades about -0.15 of its total potential returns per unit of risk. Bhiraj Office Leasehold is currently generating about 0.2 per unit of volatility. If you would invest 500.00 in Bhiraj Office Leasehold on September 12, 2024 and sell it today you would earn a total of 20.00 from holding Bhiraj Office Leasehold or generate 4.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Jay Mart Public vs. Bhiraj Office Leasehold
Performance |
| Timeline |
| Jay Mart Public |
| Bhiraj Office Leasehold |
Jay Mart and Bhiraj Office Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Jay Mart and Bhiraj Office
The main advantage of trading using opposite Jay Mart and Bhiraj Office positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Jay Mart position performs unexpectedly, Bhiraj Office 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 Bhiraj Office will offset losses from the drop in Bhiraj Office's long position.| Jay Mart vs. Jay Mart Public | Jay Mart vs. Krungthai Card Public | Jay Mart vs. Kasikornbank Public | Jay Mart vs. KERRY EXPRESS |
| Bhiraj Office vs. Siri Prime Office | Bhiraj Office vs. Quality Houses Property | Bhiraj Office vs. The Erawan Group | Bhiraj Office vs. Jay Mart Public |
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 Portfolio Volatility module to check portfolio volatility and analyze historical return density to properly model market risk.
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