Correlation Between Land and CPN Retail
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By analyzing existing cross correlation between Land and Houses and CPN Retail Growth, you can compare the effects of market volatilities on Land 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 Land with a short position of CPN Retail. Check out your portfolio center. Please also check ongoing floating volatility patterns of Land and CPN Retail.
Diversification Opportunities for Land and CPN Retail
0.22 | Correlation Coefficient |
Modest diversification
The 3 months correlation between Land and CPN is 0.22. Overlapping area represents the amount of risk that can be diversified away by holding Land and Houses 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 Land 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 Land and Houses 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 Land i.e., Land and CPN Retail go up and down completely randomly.
Pair Corralation between Land and CPN Retail
Assuming the 90 days trading horizon Land and Houses is expected to generate 27.66 times more return on investment than CPN Retail. However, Land is 27.66 times more volatile than CPN Retail Growth. It trades about 0.04 of its potential returns per unit of risk. CPN Retail Growth is currently generating about -0.03 per unit of risk. If you would invest 590.00 in Land and Houses on September 3, 2024 and sell it today you would lose (590.00) from holding Land and Houses or give up 100.0% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 99.79% |
| Values | Daily Returns |
Land and Houses vs. CPN Retail Growth
Performance |
| Timeline |
| Land and Houses |
| CPN Retail Growth |
Land and CPN Retail Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Land and CPN Retail
The main advantage of trading using opposite Land and CPN Retail positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Land 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.| Land vs. Quality Houses Hotel | Land vs. Major Cineplex Lifestyle | Land vs. Quality Houses Property | Land vs. LH Shopping Centers |
| 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 Price Ceiling Movement module to calculate and plot Price Ceiling Movement for different equity instruments.
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