Correlation Between Quality Houses and Grande Hospitality
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By analyzing existing cross correlation between Quality Houses Property and Grande Hospitality Real, you can compare the effects of market volatilities on Quality Houses and Grande Hospitality 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 Quality Houses with a short position of Grande Hospitality. Check out your portfolio center. Please also check ongoing floating volatility patterns of Quality Houses and Grande Hospitality.
Diversification Opportunities for Quality Houses and Grande Hospitality
0.03 | Correlation Coefficient |
Significant diversification
The 3 months correlation between Quality and Grande is 0.03. Overlapping area represents the amount of risk that can be diversified away by holding Quality Houses Property and Grande Hospitality Real in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Grande Hospitality Real and Quality Houses 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 Quality Houses Property are associated (or correlated) with Grande Hospitality. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Grande Hospitality Real has no effect on the direction of Quality Houses i.e., Quality Houses and Grande Hospitality go up and down completely randomly.
Pair Corralation between Quality Houses and Grande Hospitality
Assuming the 90 days trading horizon Quality Houses Property is expected to under-perform the Grande Hospitality. But the fund apears to be less risky and, when comparing its historical volatility, Quality Houses Property is 1.41 times less risky than Grande Hospitality. The fund trades about -0.26 of its potential returns per unit of risk. The Grande Hospitality Real is currently generating about -0.02 of returns per unit of risk over similar time horizon. If you would invest 655.00 in Grande Hospitality Real on September 1, 2024 and sell it today you would lose (5.00) from holding Grande Hospitality Real or give up 0.76% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Quality Houses Property vs. Grande Hospitality Real
Performance |
| Timeline |
| Quality Houses Property |
| Grande Hospitality Real |
Quality Houses and Grande Hospitality Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Quality Houses and Grande Hospitality
The main advantage of trading using opposite Quality Houses and Grande Hospitality positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Quality Houses position performs unexpectedly, Grande Hospitality 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 Grande Hospitality will offset losses from the drop in Grande Hospitality's long position.| Quality Houses vs. Quality Houses Hotel | Quality Houses vs. LH Shopping Centers | Quality Houses vs. LH Hotel Leasehold | Quality Houses vs. Future Park Leasehold |
| Grande Hospitality vs. Warrix Sport PCL | Grande Hospitality vs. CHAOSUA FOODS INDUSTRY | Grande Hospitality vs. Food Moments PCL | Grande Hospitality vs. NSL Foods Public |
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 Funds Screener module to find actively-traded funds from around the world traded on over 30 global exchanges.
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