Correlation Between RS Public and LH Hotel
Specify exactly 2 symbols:
By analyzing existing cross correlation between RS Public and LH Hotel Leasehold, you can compare the effects of market volatilities on RS Public and LH Hotel 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 RS Public with a short position of LH Hotel. Check out your portfolio center. Please also check ongoing floating volatility patterns of RS Public and LH Hotel.
Diversification Opportunities for RS Public and LH Hotel
Very good diversification
The 3 months correlation between RS Public and LHHOTEL is -0.35. Overlapping area represents the amount of risk that can be diversified away by holding RS Public and LH Hotel Leasehold in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on LH Hotel Leasehold and RS Public 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 RS Public are associated (or correlated) with LH Hotel. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of LH Hotel Leasehold has no effect on the direction of RS Public i.e., RS Public and LH Hotel go up and down completely randomly.
Pair Corralation between RS Public and LH Hotel
Assuming the 90 days horizon RS Public is expected to under-perform the LH Hotel. In addition to that, RS Public is 15.14 times more volatile than LH Hotel Leasehold. It trades about -0.54 of its total potential returns per unit of risk. LH Hotel Leasehold is currently generating about -0.08 per unit of volatility. If you would invest 1,350 in LH Hotel Leasehold on November 3, 2024 and sell it today you would lose (20.00) from holding LH Hotel Leasehold or give up 1.48% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
RS Public vs. LH Hotel Leasehold
Performance |
| Timeline |
| RS Public |
| LH Hotel Leasehold |
RS Public and LH Hotel Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with RS Public and LH Hotel
The main advantage of trading using opposite RS Public and LH Hotel positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if RS Public position performs unexpectedly, LH Hotel 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 LH Hotel will offset losses from the drop in LH Hotel's long position.| RS Public vs. Bangkok Bank Public | RS Public vs. Kasikornbank Public | RS Public vs. Kasikornbank Public | RS Public vs. Krung Thai Bank |
| LH Hotel vs. LH Shopping Centers | LH Hotel vs. Quality Houses Property | LH Hotel vs. Impact Growth REIT | LH Hotel vs. CPN Retail Growth |
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 Earnings Calls module to check upcoming earnings announcements updated hourly across public exchanges.
Other Complementary Tools
| Pair Correlation Compare performance and examine fundamental relationship between any two equity instruments | |
| AI Portfolio Architect Use AI to generate optimal portfolios and find profitable investment opportunities | |
| Piotroski F Score Get Piotroski F Score based on the binary analysis strategy of nine different fundamentals | |
| Earnings Calls Check upcoming earnings announcements updated hourly across public exchanges | |
| Investing Opportunities Build portfolios using our predefined set of ideas and optimize them against your investing preferences |