Correlation Between SAFEROADS HLDGS and FRASERS PROPERTY
Can any of the company-specific risk be diversified away by investing in both SAFEROADS HLDGS and FRASERS PROPERTY at the same time? Although using a correlation coefficient on its own may not help to predict future stock returns, this module helps to understand the diversifiable risk of combining SAFEROADS HLDGS and FRASERS PROPERTY into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between SAFEROADS HLDGS and FRASERS PROPERTY, you can compare the effects of market volatilities on SAFEROADS HLDGS and FRASERS PROPERTY 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 SAFEROADS HLDGS with a short position of FRASERS PROPERTY. Check out your portfolio center. Please also check ongoing floating volatility patterns of SAFEROADS HLDGS and FRASERS PROPERTY.
Diversification Opportunities for SAFEROADS HLDGS and FRASERS PROPERTY
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between SAFEROADS and FRASERS is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding SAFEROADS HLDGS and FRASERS PROPERTY in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on FRASERS PROPERTY and SAFEROADS HLDGS 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 SAFEROADS HLDGS are associated (or correlated) with FRASERS PROPERTY. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of FRASERS PROPERTY has no effect on the direction of SAFEROADS HLDGS i.e., SAFEROADS HLDGS and FRASERS PROPERTY go up and down completely randomly.
Pair Corralation between SAFEROADS HLDGS and FRASERS PROPERTY
If you would invest 13.00 in SAFEROADS HLDGS on December 8, 2024 and sell it today you would earn a total of 0.00 from holding SAFEROADS HLDGS or generate 0.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 95.65% |
| Values | Daily Returns |
SAFEROADS HLDGS vs. FRASERS PROPERTY
Performance |
| Timeline |
| SAFEROADS HLDGS |
| FRASERS PROPERTY |
SAFEROADS HLDGS and FRASERS PROPERTY Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with SAFEROADS HLDGS and FRASERS PROPERTY
The main advantage of trading using opposite SAFEROADS HLDGS and FRASERS PROPERTY positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if SAFEROADS HLDGS position performs unexpectedly, FRASERS PROPERTY 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 FRASERS PROPERTY will offset losses from the drop in FRASERS PROPERTY's long position.| SAFEROADS HLDGS vs. PARKEN Sport Entertainment | ||
| SAFEROADS HLDGS vs. UNITED UTILITIES GR | ||
| SAFEROADS HLDGS vs. DICKS Sporting Goods | ||
| SAFEROADS HLDGS vs. ANTA Sports Products |
| FRASERS PROPERTY vs. Suntory Beverage Food | ||
| FRASERS PROPERTY vs. REVO INSURANCE SPA | ||
| FRASERS PROPERTY vs. Erste Group Bank | ||
| FRASERS PROPERTY vs. Fevertree Drinks PLC |
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 Volatility Analysis module to get historical volatility and risk analysis based on latest market data.
Other Complementary Tools
| Alpha Finder Use alpha and beta coefficients to find investment opportunities after accounting for the risk | |
| Stock Screener Find equities using a custom stock filter or screen asymmetry in trading patterns, price, volume, or investment outlook. | |
| Content Syndication Quickly integrate customizable finance content to your own investment portal | |
| Companies Directory Evaluate performance of over 100,000 Stocks, Funds, and ETFs against different fundamentals | |
| Balance Of Power Check stock momentum by analyzing Balance Of Power indicator and other technical ratios |