Correlation Between Siamese Asset and Property Perfect
Can any of the company-specific risk be diversified away by investing in both Siamese Asset and Property Perfect 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 Siamese Asset and Property Perfect into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Siamese Asset Public and Property Perfect Public, you can compare the effects of market volatilities on Siamese Asset and Property Perfect 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 Siamese Asset with a short position of Property Perfect. Check out your portfolio center. Please also check ongoing floating volatility patterns of Siamese Asset and Property Perfect.
Diversification Opportunities for Siamese Asset and Property Perfect
0.24 | Correlation Coefficient |
Modest diversification
The 3 months correlation between Siamese and Property is 0.24. Overlapping area represents the amount of risk that can be diversified away by holding Siamese Asset Public and Property Perfect Public in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Property Perfect Public and Siamese Asset 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 Siamese Asset Public are associated (or correlated) with Property Perfect. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Property Perfect Public has no effect on the direction of Siamese Asset i.e., Siamese Asset and Property Perfect go up and down completely randomly.
Pair Corralation between Siamese Asset and Property Perfect
Assuming the 90 days horizon Siamese Asset is expected to generate 2.74 times less return on investment than Property Perfect. But when comparing it to its historical volatility, Siamese Asset Public is 5.55 times less risky than Property Perfect. It trades about 0.04 of its potential returns per unit of risk. Property Perfect Public is currently generating about 0.02 of returns per unit of risk over similar time horizon. If you would invest 14.00 in Property Perfect Public on November 2, 2024 and sell it today you would earn a total of 0.00 from holding Property Perfect Public or generate 0.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 95.45% |
| Values | Daily Returns |
Siamese Asset Public vs. Property Perfect Public
Performance |
| Timeline |
| Siamese Asset Public |
| Property Perfect Public |
Siamese Asset and Property Perfect Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Siamese Asset and Property Perfect
The main advantage of trading using opposite Siamese Asset and Property Perfect positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Siamese Asset position performs unexpectedly, Property Perfect 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 Property Perfect will offset losses from the drop in Property Perfect's long position.| Siamese Asset vs. Singha Estate Public | Siamese Asset vs. AP Public | Siamese Asset vs. Quality Houses Public | Siamese Asset vs. Raimon Land Public |
| Property Perfect vs. Land and Houses | Property Perfect vs. Quality Houses Public | Property Perfect vs. LPN Development Public | Property Perfect vs. Siri Prime Office |
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 Fundamental Analysis module to view fundamental data based on most recent published financial statements.
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