Correlation Between Namwiwat Medical and INET Leasehold
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By analyzing existing cross correlation between Namwiwat Medical and INET Leasehold REIT, you can compare the effects of market volatilities on Namwiwat Medical and INET Leasehold 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 Namwiwat Medical with a short position of INET Leasehold. Check out your portfolio center. Please also check ongoing floating volatility patterns of Namwiwat Medical and INET Leasehold.
Diversification Opportunities for Namwiwat Medical and INET Leasehold
-0.06 | Correlation Coefficient |
Good diversification
The 3 months correlation between Namwiwat and INET is -0.06. Overlapping area represents the amount of risk that can be diversified away by holding Namwiwat Medical and INET Leasehold REIT in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on INET Leasehold REIT and Namwiwat Medical 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 Namwiwat Medical are associated (or correlated) with INET Leasehold. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of INET Leasehold REIT has no effect on the direction of Namwiwat Medical i.e., Namwiwat Medical and INET Leasehold go up and down completely randomly.
Pair Corralation between Namwiwat Medical and INET Leasehold
Assuming the 90 days trading horizon Namwiwat Medical is expected to under-perform the INET Leasehold. In addition to that, Namwiwat Medical is 1.12 times more volatile than INET Leasehold REIT. It trades about -0.19 of its total potential returns per unit of risk. INET Leasehold REIT is currently generating about 0.19 per unit of volatility. If you would invest 845.00 in INET Leasehold REIT on November 27, 2024 and sell it today you would earn a total of 30.00 from holding INET Leasehold REIT or generate 3.55% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Namwiwat Medical vs. INET Leasehold REIT
Performance |
| Timeline |
| Namwiwat Medical |
| INET Leasehold REIT |
Namwiwat Medical and INET Leasehold Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Namwiwat Medical and INET Leasehold
The main advantage of trading using opposite Namwiwat Medical and INET Leasehold positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Namwiwat Medical position performs unexpectedly, INET Leasehold 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 INET Leasehold will offset losses from the drop in INET Leasehold's long position.| Namwiwat Medical vs. Chularat Hospital Public | Namwiwat Medical vs. Nonthavej Hospital Public | Namwiwat Medical vs. Bhiraj Office Leasehold | Namwiwat Medical vs. Wattanapat Hospital Trang |
| INET Leasehold vs. Impact Growth REIT | INET Leasehold vs. Internet Thailand Public | INET Leasehold vs. CPN Retail Growth | INET Leasehold vs. Golden Ventures Leasehold |
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 Equity Analysis module to research over 250,000 global equities including funds, stocks and ETFs to find investment opportunities.
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