Correlation Between Saksiam Leasing and INET Leasehold
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By analyzing existing cross correlation between Saksiam Leasing Public and INET Leasehold REIT, you can compare the effects of market volatilities on Saksiam Leasing and INET Leasehold 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 Saksiam Leasing with a short position of INET Leasehold. Check out your portfolio center. Please also check ongoing floating volatility patterns of Saksiam Leasing and INET Leasehold.
Diversification Opportunities for Saksiam Leasing and INET Leasehold
0.21 | Correlation Coefficient |
Modest diversification
The 3 months correlation between Saksiam and INET is 0.21. Overlapping area represents the amount of risk that can be diversified away by holding Saksiam Leasing Public and INET Leasehold REIT in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on INET Leasehold REIT and Saksiam Leasing 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 Saksiam Leasing Public are associated (or correlated) with INET Leasehold. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of INET Leasehold REIT has no effect on the direction of Saksiam Leasing i.e., Saksiam Leasing and INET Leasehold go up and down completely randomly.
Pair Corralation between Saksiam Leasing and INET Leasehold
Assuming the 90 days trading horizon Saksiam Leasing Public is expected to under-perform the INET Leasehold. In addition to that, Saksiam Leasing is 4.07 times more volatile than INET Leasehold REIT. It trades about -0.04 of its total potential returns per unit of risk. INET Leasehold REIT is currently generating about 0.04 per unit of volatility. If you would invest 850.00 in INET Leasehold REIT on August 29, 2024 and sell it today you would earn a total of 5.00 from holding INET Leasehold REIT or generate 0.59% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Saksiam Leasing Public vs. INET Leasehold REIT
Performance |
| Timeline |
| Saksiam Leasing Public |
| INET Leasehold REIT |
Saksiam Leasing and INET Leasehold Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Saksiam Leasing and INET Leasehold
The main advantage of trading using opposite Saksiam Leasing and INET Leasehold positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Saksiam Leasing position performs unexpectedly, INET Leasehold 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 INET Leasehold will offset losses from the drop in INET Leasehold's long position.| Saksiam Leasing vs. Srisawad Power 1979 | Saksiam Leasing vs. Muangthai Capital Public | Saksiam Leasing vs. Micro Leasing Public | Saksiam Leasing vs. Krungthai Card PCL |
| INET Leasehold vs. Delta Electronics Public | INET Leasehold vs. Delta Electronics Public | INET Leasehold vs. Airports of Thailand | INET Leasehold vs. Airports of Thailand |
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.
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