Correlation Between MFC Nichada and Delta Electronics
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By analyzing existing cross correlation between MFC Nichada Thani Property and Delta Electronics Public, you can compare the effects of market volatilities on MFC Nichada and Delta Electronics 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 MFC Nichada with a short position of Delta Electronics. Check out your portfolio center. Please also check ongoing floating volatility patterns of MFC Nichada and Delta Electronics.
Diversification Opportunities for MFC Nichada and Delta Electronics
0.08 | Correlation Coefficient |
Significant diversification
The 3 months correlation between MFC and Delta is 0.08. Overlapping area represents the amount of risk that can be diversified away by holding MFC Nichada Thani Property and Delta Electronics Public in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Delta Electronics Public and MFC Nichada 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 MFC Nichada Thani Property are associated (or correlated) with Delta Electronics. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Delta Electronics Public has no effect on the direction of MFC Nichada i.e., MFC Nichada and Delta Electronics go up and down completely randomly.
Pair Corralation between MFC Nichada and Delta Electronics
Assuming the 90 days trading horizon MFC Nichada Thani Property is expected to generate 44.43 times more return on investment than Delta Electronics. However, MFC Nichada is 44.43 times more volatile than Delta Electronics Public. It trades about 0.63 of its potential returns per unit of risk. Delta Electronics Public is currently generating about 0.22 per unit of risk. If you would invest 0.00 in MFC Nichada Thani Property on September 12, 2024 and sell it today you would earn a total of 474.00 from holding MFC Nichada Thani Property or generate 9.223372036854776E16% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 66.67% |
| Values | Daily Returns |
MFC Nichada Thani Property vs. Delta Electronics Public
Performance |
| Timeline |
| MFC Nichada Thani |
| Delta Electronics Public |
MFC Nichada and Delta Electronics Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with MFC Nichada and Delta Electronics
The main advantage of trading using opposite MFC Nichada and Delta Electronics positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if MFC Nichada position performs unexpectedly, Delta Electronics 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 Delta Electronics will offset losses from the drop in Delta Electronics' long position.| MFC Nichada vs. Siri Prime Office | MFC Nichada vs. Quality Houses Property | MFC Nichada vs. The Erawan Group | MFC Nichada vs. Jay Mart Public |
| Delta Electronics vs. Delta Electronics Public | Delta Electronics vs. PTT Public | Delta Electronics vs. CP ALL Public | Delta Electronics vs. The Siam Commercial |
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 Positions Ratings module to determine portfolio positions ratings based on digital equity recommendations. Macroaxis instant position ratings are based on combination of fundamental analysis and risk-adjusted market performance.
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