Correlation Between Quality Houses and Thaicom Public
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By analyzing existing cross correlation between Quality Houses Property and Thaicom Public, you can compare the effects of market volatilities on Quality Houses 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 Quality Houses with a short position of Thaicom Public. Check out your portfolio center. Please also check ongoing floating volatility patterns of Quality Houses and Thaicom Public.
Diversification Opportunities for Quality Houses and Thaicom Public
-0.1 | Correlation Coefficient |
Good diversification
The 3 months correlation between Quality and Thaicom is -0.1. Overlapping area represents the amount of risk that can be diversified away by holding Quality Houses Property and Thaicom Public in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Thaicom Public 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 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 Quality Houses i.e., Quality Houses and Thaicom Public go up and down completely randomly.
Pair Corralation between Quality Houses and Thaicom Public
Assuming the 90 days trading horizon Quality Houses Property is expected to under-perform the Thaicom Public. But the fund apears to be less risky and, when comparing its historical volatility, Quality Houses Property is 36.2 times less risky than Thaicom Public. The fund trades about 0.0 of its potential returns per unit of risk. The Thaicom Public is currently generating about 0.07 of returns per unit of risk over similar time horizon. If you would invest 1,238 in Thaicom Public on September 12, 2024 and sell it today you would earn a total of 202.00 from holding Thaicom Public or generate 16.32% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 99.69% |
| Values | Daily Returns |
Quality Houses Property vs. Thaicom Public
Performance |
| Timeline |
| Quality Houses Property |
| Thaicom Public |
Quality Houses and Thaicom Public Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Quality Houses and Thaicom Public
The main advantage of trading using opposite Quality Houses and Thaicom Public positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Quality Houses 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.| Quality Houses vs. Quality Houses Hotel | Quality Houses vs. LH Shopping Centers | Quality Houses vs. LH Hotel Leasehold | Quality Houses vs. Future Park Leasehold |
| Thaicom Public vs. Siri Prime Office | Thaicom Public vs. Quality Houses Property | Thaicom Public vs. The Erawan Group | Thaicom Public vs. Jay Mart 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 Portfolio Holdings module to check your current holdings and cash postion to detemine if your portfolio needs rebalancing.
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