Correlation Between Jay Mart and CPN Retail
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By analyzing existing cross correlation between Jay Mart Public and CPN Retail Growth, you can compare the effects of market volatilities on Jay Mart and CPN Retail 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 CPN Retail. Check out your portfolio center. Please also check ongoing floating volatility patterns of Jay Mart and CPN Retail.
Diversification Opportunities for Jay Mart and CPN Retail
-0.29 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Jay and CPN is -0.29. Overlapping area represents the amount of risk that can be diversified away by holding Jay Mart Public and CPN Retail Growth in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on CPN Retail Growth 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 CPN Retail. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of CPN Retail Growth has no effect on the direction of Jay Mart i.e., Jay Mart and CPN Retail go up and down completely randomly.
Pair Corralation between Jay Mart and CPN Retail
Assuming the 90 days trading horizon Jay Mart Public is expected to under-perform the CPN Retail. In addition to that, Jay Mart is 2.99 times more volatile than CPN Retail Growth. It trades about -0.22 of its total potential returns per unit of risk. CPN Retail Growth is currently generating about 0.1 per unit of volatility. If you would invest 1,190 in CPN Retail Growth on October 22, 2024 and sell it today you would earn a total of 30.00 from holding CPN Retail Growth or generate 2.52% 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. CPN Retail Growth
Performance |
| Timeline |
| Jay Mart Public |
| CPN Retail Growth |
Jay Mart and CPN Retail Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Jay Mart and CPN Retail
The main advantage of trading using opposite Jay Mart and CPN Retail positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Jay Mart position performs unexpectedly, CPN Retail 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 CPN Retail will offset losses from the drop in CPN Retail's long position.| Jay Mart vs. CPN Commercial Growth | Jay Mart vs. HEMARAJ INDUSTRIAL PROPERTY | Jay Mart vs. Future Park Leasehold | Jay Mart vs. The Erawan Group |
| CPN Retail vs. Central Pattana Public | CPN Retail vs. Digital Telecommunications Infrastructure | CPN Retail vs. Impact Growth REIT | CPN Retail vs. WHA Premium Growth |
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 Performance Analysis module to check effects of mean-variance optimization against your current asset allocation.
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