Correlation Between SAF Special and Future Park
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By analyzing existing cross correlation between SAF Special Steel and Future Park Leasehold, you can compare the effects of market volatilities on SAF Special and Future Park 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 SAF Special with a short position of Future Park. Check out your portfolio center. Please also check ongoing floating volatility patterns of SAF Special and Future Park.
Diversification Opportunities for SAF Special and Future Park
-0.09 | Correlation Coefficient |
Good diversification
The 3 months correlation between SAF and Future is -0.09. Overlapping area represents the amount of risk that can be diversified away by holding SAF Special Steel and Future Park Leasehold in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Future Park Leasehold and SAF Special 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 SAF Special Steel are associated (or correlated) with Future Park. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Future Park Leasehold has no effect on the direction of SAF Special i.e., SAF Special and Future Park go up and down completely randomly.
Pair Corralation between SAF Special and Future Park
Assuming the 90 days trading horizon SAF Special Steel is expected to under-perform the Future Park. But the stock apears to be less risky and, when comparing its historical volatility, SAF Special Steel is 30.51 times less risky than Future Park. The stock trades about -0.03 of its potential returns per unit of risk. The Future Park Leasehold is currently generating about 0.1 of returns per unit of risk over similar time horizon. If you would invest 1,160 in Future Park Leasehold on September 3, 2024 and sell it today you would lose (1,160) from holding Future Park Leasehold or give up 100.0% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 96.67% |
| Values | Daily Returns |
SAF Special Steel vs. Future Park Leasehold
Performance |
| Timeline |
| SAF Special Steel |
| Future Park Leasehold |
SAF Special and Future Park Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with SAF Special and Future Park
The main advantage of trading using opposite SAF Special and Future Park positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if SAF Special position performs unexpectedly, Future Park 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 Future Park will offset losses from the drop in Future Park's long position.| SAF Special vs. Diamond Building Products | SAF Special vs. MCS Steel Public | SAF Special vs. Asia Green Energy | SAF Special vs. Hwa Fong Rubber |
| Future Park vs. SAF Special Steel | Future Park vs. Pato Chemical Industry | Future Park vs. Central Retail | Future Park vs. CPR Gomu Industrial |
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 ETFs module to find actively traded Exchange Traded Funds (ETF) from around the world.
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