Correlation Between KTBST Mixed and Sena Development
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By analyzing existing cross correlation between KTBST Mixed Leasehold and Sena Development Public, you can compare the effects of market volatilities on KTBST Mixed and Sena Development 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 KTBST Mixed with a short position of Sena Development. Check out your portfolio center. Please also check ongoing floating volatility patterns of KTBST Mixed and Sena Development.
Diversification Opportunities for KTBST Mixed and Sena Development
0.09 | Correlation Coefficient |
Significant diversification
The 3 months correlation between KTBST and Sena is 0.09. Overlapping area represents the amount of risk that can be diversified away by holding KTBST Mixed Leasehold and Sena Development Public in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Sena Development Public and KTBST Mixed 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 KTBST Mixed Leasehold are associated (or correlated) with Sena Development. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Sena Development Public has no effect on the direction of KTBST Mixed i.e., KTBST Mixed and Sena Development go up and down completely randomly.
Pair Corralation between KTBST Mixed and Sena Development
Assuming the 90 days trading horizon KTBST Mixed Leasehold is expected to generate 1.15 times more return on investment than Sena Development. However, KTBST Mixed is 1.15 times more volatile than Sena Development Public. It trades about 0.02 of its potential returns per unit of risk. Sena Development Public is currently generating about -0.07 per unit of risk. If you would invest 638.00 in KTBST Mixed Leasehold on September 12, 2024 and sell it today you would earn a total of 7.00 from holding KTBST Mixed Leasehold or generate 1.1% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
KTBST Mixed Leasehold vs. Sena Development Public
Performance |
| Timeline |
| KTBST Mixed Leasehold |
| Sena Development Public |
KTBST Mixed and Sena Development Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with KTBST Mixed and Sena Development
The main advantage of trading using opposite KTBST Mixed and Sena Development positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if KTBST Mixed position performs unexpectedly, Sena Development 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 Sena Development will offset losses from the drop in Sena Development's long position.| KTBST Mixed vs. Ticon Freehold and | KTBST Mixed vs. CPN Retail Growth | KTBST Mixed vs. Golden Ventures Leasehold | KTBST Mixed vs. Impact Growth REIT |
| Sena Development vs. 2S Metal Public | Sena Development vs. Golden Ventures Leasehold | Sena Development vs. Bhiraj Office Leasehold | Sena Development vs. Mitsib Leasing 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 Dashboard module to portfolio dashboard that provides centralized access to all your investments.
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