Correlation Between OSOTSPA PCL and CP ALL
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By analyzing existing cross correlation between OSOTSPA PCL NVDR and CP ALL Public, you can compare the effects of market volatilities on OSOTSPA PCL and CP ALL 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 OSOTSPA PCL with a short position of CP ALL. Check out your portfolio center. Please also check ongoing floating volatility patterns of OSOTSPA PCL and CP ALL.
Diversification Opportunities for OSOTSPA PCL and CP ALL
0.09 | Correlation Coefficient |
Significant diversification
The 3 months correlation between OSOTSPA and CPALL-R is 0.09. Overlapping area represents the amount of risk that can be diversified away by holding OSOTSPA PCL NVDR and CP ALL Public in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on CP ALL Public and OSOTSPA PCL 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 OSOTSPA PCL NVDR are associated (or correlated) with CP ALL. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of CP ALL Public has no effect on the direction of OSOTSPA PCL i.e., OSOTSPA PCL and CP ALL go up and down completely randomly.
Pair Corralation between OSOTSPA PCL and CP ALL
Assuming the 90 days trading horizon OSOTSPA PCL NVDR is expected to under-perform the CP ALL. In addition to that, OSOTSPA PCL is 5.07 times more volatile than CP ALL Public. It trades about -0.2 of its total potential returns per unit of risk. CP ALL Public is currently generating about -0.13 per unit of volatility. If you would invest 6,425 in CP ALL Public on August 28, 2024 and sell it today you would lose (200.00) from holding CP ALL Public or give up 3.11% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
OSOTSPA PCL NVDR vs. CP ALL Public
Performance |
| Timeline |
| OSOTSPA PCL NVDR |
| CP ALL Public |
OSOTSPA PCL and CP ALL Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with OSOTSPA PCL and CP ALL
The main advantage of trading using opposite OSOTSPA PCL and CP ALL positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if OSOTSPA PCL position performs unexpectedly, CP ALL 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 CP ALL will offset losses from the drop in CP ALL's long position.| OSOTSPA PCL vs. Delta Electronics Public | OSOTSPA PCL vs. Delta Electronics Public | OSOTSPA PCL vs. Airports of Thailand | OSOTSPA PCL vs. Airports of Thailand |
| CP ALL vs. S P V | CP ALL vs. Mega Lifesciences Public | CP ALL vs. TAC Consumer Public | CP ALL vs. Com7 PCL |
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 Risk-Return Analysis module to view associations between returns expected from investment and the risk you assume.
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