Correlation Between Prime Office and Thaicom Public
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By analyzing existing cross correlation between Prime Office Leasehold and Thaicom Public, you can compare the effects of market volatilities on Prime Office and Thaicom Public 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 Prime Office with a short position of Thaicom Public. Check out your portfolio center. Please also check ongoing floating volatility patterns of Prime Office and Thaicom Public.
Diversification Opportunities for Prime Office and Thaicom Public
0.32 | Correlation Coefficient |
Weak diversification
The 3 months correlation between Prime and Thaicom is 0.32. Overlapping area represents the amount of risk that can be diversified away by holding Prime Office Leasehold and Thaicom Public in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Thaicom Public and Prime Office 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 Prime Office Leasehold are associated (or correlated) with Thaicom Public. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Thaicom Public has no effect on the direction of Prime Office i.e., Prime Office and Thaicom Public go up and down completely randomly.
Pair Corralation between Prime Office and Thaicom Public
Assuming the 90 days trading horizon Prime Office Leasehold is expected to generate 0.25 times more return on investment than Thaicom Public. However, Prime Office Leasehold is 4.02 times less risky than Thaicom Public. It trades about 0.06 of its potential returns per unit of risk. Thaicom Public is currently generating about -0.07 per unit of risk. If you would invest 630.00 in Prime Office Leasehold on October 25, 2024 and sell it today you would earn a total of 5.00 from holding Prime Office Leasehold or generate 0.79% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 95.24% |
| Values | Daily Returns |
Prime Office Leasehold vs. Thaicom Public
Performance |
| Timeline |
| Prime Office Leasehold |
| Thaicom Public |
Prime Office and Thaicom Public Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Prime Office and Thaicom Public
The main advantage of trading using opposite Prime Office and Thaicom Public positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Prime Office position performs unexpectedly, Thaicom Public 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 Thaicom Public will offset losses from the drop in Thaicom Public's long position.| Prime Office vs. CPN Commercial Growth | Prime Office vs. Quality Houses Property | Prime Office vs. LH Shopping Centers |
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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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