Correlation Between Jay Mart and Siam Cement
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By analyzing existing cross correlation between Jay Mart Public and The Siam Cement, you can compare the effects of market volatilities on Jay Mart and Siam Cement 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 Siam Cement. Check out your portfolio center. Please also check ongoing floating volatility patterns of Jay Mart and Siam Cement.
Diversification Opportunities for Jay Mart and Siam Cement
0.66 | Correlation Coefficient |
Poor diversification
The 3 months correlation between Jay and Siam is 0.66. Overlapping area represents the amount of risk that can be diversified away by holding Jay Mart Public and The Siam Cement in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Siam Cement 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 Siam Cement. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Siam Cement has no effect on the direction of Jay Mart i.e., Jay Mart and Siam Cement go up and down completely randomly.
Pair Corralation between Jay Mart and Siam Cement
Assuming the 90 days trading horizon Jay Mart Public is expected to generate 203.91 times more return on investment than Siam Cement. However, Jay Mart is 203.91 times more volatile than The Siam Cement. It trades about 0.43 of its potential returns per unit of risk. The Siam Cement is currently generating about -0.22 per unit of risk. If you would invest 1,340 in Jay Mart Public on December 4, 2024 and sell it today you would lose (300.00) from holding Jay Mart Public or give up 22.39% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Significant |
| Accuracy | 20.0% |
| Values | Daily Returns |
Jay Mart Public vs. The Siam Cement
Performance |
| Timeline |
| Jay Mart Public |
Risk-Adjusted Performance
OK
Weak | Strong |
| Siam Cement |
Jay Mart and Siam Cement Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Jay Mart and Siam Cement
The main advantage of trading using opposite Jay Mart and Siam Cement positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Jay Mart position performs unexpectedly, Siam Cement 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 Siam Cement will offset losses from the drop in Siam Cement's long position.| Jay Mart vs. Digital Telecommunications Infrastructure | Jay Mart vs. Prime Office Leasehold | Jay Mart vs. CPN Retail Growth | Jay Mart vs. Dynasty Ceramic Public |
| Siam Cement vs. Praram 9 Hospital | Siam Cement vs. Copperwired Public | Siam Cement vs. Bioscience Animal Health | Siam Cement vs. Porn Prom Metal |
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 Stock Tickers module to use high-impact, comprehensive, and customizable stock tickers that can be easily integrated to any websites.
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