Correlation Between Premier Marketing and Bhiraj Office
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By analyzing existing cross correlation between Premier Marketing Public and Bhiraj Office Leasehold, you can compare the effects of market volatilities on Premier Marketing and Bhiraj Office 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 Premier Marketing with a short position of Bhiraj Office. Check out your portfolio center. Please also check ongoing floating volatility patterns of Premier Marketing and Bhiraj Office.
Diversification Opportunities for Premier Marketing and Bhiraj Office
0.66 | Correlation Coefficient |
Poor diversification
The 3 months correlation between Premier and Bhiraj is 0.66. Overlapping area represents the amount of risk that can be diversified away by holding Premier Marketing Public and Bhiraj Office Leasehold in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Bhiraj Office Leasehold and Premier Marketing 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 Premier Marketing Public are associated (or correlated) with Bhiraj Office. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Bhiraj Office Leasehold has no effect on the direction of Premier Marketing i.e., Premier Marketing and Bhiraj Office go up and down completely randomly.
Pair Corralation between Premier Marketing and Bhiraj Office
Assuming the 90 days horizon Premier Marketing Public is expected to generate 1.38 times more return on investment than Bhiraj Office. However, Premier Marketing is 1.38 times more volatile than Bhiraj Office Leasehold. It trades about 0.08 of its potential returns per unit of risk. Bhiraj Office Leasehold is currently generating about 0.07 per unit of risk. If you would invest 786.00 in Premier Marketing Public on August 29, 2024 and sell it today you would earn a total of 129.00 from holding Premier Marketing Public or generate 16.41% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Significant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Premier Marketing Public vs. Bhiraj Office Leasehold
Performance |
| Timeline |
| Premier Marketing Public |
| Bhiraj Office Leasehold |
Premier Marketing and Bhiraj Office Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Premier Marketing and Bhiraj Office
The main advantage of trading using opposite Premier Marketing and Bhiraj Office positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Premier Marketing position performs unexpectedly, Bhiraj Office 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 Bhiraj Office will offset losses from the drop in Bhiraj Office's long position.| Premier Marketing vs. Haad Thip Public | Premier Marketing vs. MK Restaurant Group | Premier Marketing vs. Thai Union Group | Premier Marketing vs. Taokaenoi Food Marketing |
| Bhiraj Office vs. Quality Houses Hotel | Bhiraj Office vs. Quality Houses Property | Bhiraj Office vs. CK Power Public | Bhiraj Office vs. Thai Metal Drum |
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 Theme Ratings module to determine theme ratings based on digital equity recommendations. Macroaxis theme ratings are based on combination of fundamental analysis and risk-adjusted market performance.
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