Correlation Between LH Hotel and TISCO Financial
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By analyzing existing cross correlation between LH Hotel Leasehold and TISCO Financial Group, you can compare the effects of market volatilities on LH Hotel and TISCO Financial 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 LH Hotel with a short position of TISCO Financial. Check out your portfolio center. Please also check ongoing floating volatility patterns of LH Hotel and TISCO Financial.
Diversification Opportunities for LH Hotel and TISCO Financial
0.7 | Correlation Coefficient |
Poor diversification
The 3 months correlation between LHHOTEL and TISCO is 0.7. Overlapping area represents the amount of risk that can be diversified away by holding LH Hotel Leasehold and TISCO Financial Group in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on TISCO Financial Group and LH Hotel 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 LH Hotel Leasehold are associated (or correlated) with TISCO Financial. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of TISCO Financial Group has no effect on the direction of LH Hotel i.e., LH Hotel and TISCO Financial go up and down completely randomly.
Pair Corralation between LH Hotel and TISCO Financial
Assuming the 90 days trading horizon LH Hotel Leasehold is expected to under-perform the TISCO Financial. In addition to that, LH Hotel is 3.2 times more volatile than TISCO Financial Group. It trades about -0.07 of its total potential returns per unit of risk. TISCO Financial Group is currently generating about -0.03 per unit of volatility. If you would invest 9,650 in TISCO Financial Group on August 30, 2024 and sell it today you would lose (50.00) from holding TISCO Financial Group or give up 0.52% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Significant |
| Accuracy | 100.0% |
| Values | Daily Returns |
LH Hotel Leasehold vs. TISCO Financial Group
Performance |
| Timeline |
| LH Hotel Leasehold |
| TISCO Financial Group |
LH Hotel and TISCO Financial Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with LH Hotel and TISCO Financial
The main advantage of trading using opposite LH Hotel and TISCO Financial positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if LH Hotel position performs unexpectedly, TISCO Financial 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 TISCO Financial will offset losses from the drop in TISCO Financial's long position.| LH Hotel vs. LH Shopping Centers | LH Hotel vs. Quality Houses Property | LH Hotel vs. Impact Growth REIT | LH Hotel vs. CPN Retail Growth |
| TISCO Financial vs. Kasikornbank Public | TISCO Financial vs. Kiatnakin Phatra Bank | TISCO Financial vs. SCB X Public | TISCO Financial vs. Bangkok Bank 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 Analyzer module to portfolio analysis module that provides access to portfolio diagnostics and optimization engine.
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