Correlation Between Stock Exchange and Advanced Info
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By analyzing existing cross correlation between Stock Exchange Of and Advanced Info Service, you can compare the effects of market volatilities on Stock Exchange and Advanced Info 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 Stock Exchange with a short position of Advanced Info. Check out your portfolio center. Please also check ongoing floating volatility patterns of Stock Exchange and Advanced Info.
Diversification Opportunities for Stock Exchange and Advanced Info
0.07 | Correlation Coefficient |
Significant diversification
The 3 months correlation between Stock and Advanced is 0.07. Overlapping area represents the amount of risk that can be diversified away by holding Stock Exchange Of and Advanced Info Service in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Advanced Info Service and Stock Exchange 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 Stock Exchange Of are associated (or correlated) with Advanced Info. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Advanced Info Service has no effect on the direction of Stock Exchange i.e., Stock Exchange and Advanced Info go up and down completely randomly.
Pair Corralation between Stock Exchange and Advanced Info
Assuming the 90 days trading horizon Stock Exchange Of is expected to under-perform the Advanced Info. But the index apears to be less risky and, when comparing its historical volatility, Stock Exchange Of is 398.28 times less risky than Advanced Info. The index trades about -0.2 of its potential returns per unit of risk. The Advanced Info Service is currently generating about 0.21 of returns per unit of risk over similar time horizon. If you would invest 22,216 in Advanced Info Service on September 1, 2024 and sell it today you would earn a total of 6,684 from holding Advanced Info Service or generate 30.09% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 81.82% |
| Values | Daily Returns |
Stock Exchange Of vs. Advanced Info Service
Performance |
| Timeline |
Stock Exchange and Advanced Info Volatility Contrast
Predicted Return Density |
| Returns |
Stock Exchange Of
Pair trading matchups for Stock Exchange
Advanced Info Service
Pair trading matchups for Advanced Info
Pair Trading with Stock Exchange and Advanced Info
The main advantage of trading using opposite Stock Exchange and Advanced Info positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Stock Exchange position performs unexpectedly, Advanced Info 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 Advanced Info will offset losses from the drop in Advanced Info's long position.| Stock Exchange vs. Porn Prom Metal | Stock Exchange vs. WHA Industrial Leasehold | Stock Exchange vs. 2S Metal Public | Stock Exchange vs. Turnkey Communication Services |
| Advanced Info vs. Intouch Holdings Public | Advanced Info vs. True Public | Advanced Info vs. Airports of Thailand | Advanced Info vs. The Siam Cement |
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 Stock Screener module to find equities using a custom stock filter or screen asymmetry in trading patterns, price, volume, or investment outlook..
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