Correlation Between Stock Exchange and Inter Far
Can any of the company-specific risk be diversified away by investing in both Stock Exchange and Inter Far 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 Stock Exchange and Inter Far into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Stock Exchange Of and Inter Far East, you can compare the effects of market volatilities on Stock Exchange and Inter Far 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 Inter Far. Check out your portfolio center. Please also check ongoing floating volatility patterns of Stock Exchange and Inter Far.
Diversification Opportunities for Stock Exchange and Inter Far
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Stock and Inter is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Stock Exchange Of and Inter Far East in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Inter Far East 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 Inter Far. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Inter Far East has no effect on the direction of Stock Exchange i.e., Stock Exchange and Inter Far go up and down completely randomly.
Pair Corralation between Stock Exchange and Inter Far
If you would invest 140,170 in Stock Exchange Of on September 19, 2024 and sell it today you would lose (275.00) from holding Stock Exchange Of or give up 0.2% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 0.0% |
| Values | Daily Returns |
Stock Exchange Of vs. Inter Far East
Performance |
| Timeline |
Stock Exchange and Inter Far Volatility Contrast
Predicted Return Density |
| Returns |
Stock Exchange Of
Pair trading matchups for Stock Exchange
Inter Far East
Pair trading matchups for Inter Far
Pair Trading with Stock Exchange and Inter Far
The main advantage of trading using opposite Stock Exchange and Inter Far positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Stock Exchange position performs unexpectedly, Inter Far 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 Inter Far will offset losses from the drop in Inter Far's long position.| Stock Exchange vs. Stars Microelectronics Public | Stock Exchange vs. CHAOSUA FOODS INDUSTRY | Stock Exchange vs. TMT Steel Public | Stock Exchange vs. Chiangmai Frozen Foods |
| Inter Far vs. TMT Steel Public | Inter Far vs. AJ Advance Technology | Inter Far vs. Surapon Foods Public | Inter Far vs. Siam Steel Service |
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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