Correlation Between Jay Mart and Haad Thip
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By analyzing existing cross correlation between Jay Mart Public and Haad Thip Public, you can compare the effects of market volatilities on Jay Mart and Haad Thip 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 Haad Thip. Check out your portfolio center. Please also check ongoing floating volatility patterns of Jay Mart and Haad Thip.
Diversification Opportunities for Jay Mart and Haad Thip
Good diversification
The 3 months correlation between Jay and Haad is -0.12. Overlapping area represents the amount of risk that can be diversified away by holding Jay Mart Public and Haad Thip Public in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Haad Thip Public 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 Haad Thip. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Haad Thip Public has no effect on the direction of Jay Mart i.e., Jay Mart and Haad Thip go up and down completely randomly.
Pair Corralation between Jay Mart and Haad Thip
Assuming the 90 days trading horizon Jay Mart Public is expected to generate 37.38 times more return on investment than Haad Thip. However, Jay Mart is 37.38 times more volatile than Haad Thip Public. It trades about 0.05 of its potential returns per unit of risk. Haad Thip Public is currently generating about 0.04 per unit of risk. If you would invest 4,100 in Jay Mart Public on September 14, 2024 and sell it today you would lose (2,740) from holding Jay Mart Public or give up 66.83% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Jay Mart Public vs. Haad Thip Public
Performance |
| Timeline |
| Jay Mart Public |
| Haad Thip Public |
Jay Mart and Haad Thip Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Jay Mart and Haad Thip
The main advantage of trading using opposite Jay Mart and Haad Thip positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Jay Mart position performs unexpectedly, Haad Thip 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 Haad Thip will offset losses from the drop in Haad Thip'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 |
| Haad Thip vs. Charoen Pokphand Foods | Haad Thip vs. Carabao Group Public | Haad Thip vs. Home Product Center | Haad Thip vs. Ichitan Group 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 Anywhere module to track or share privately all of your investments from the convenience of any device.
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