Correlation Between S Khonkaen and Grande Hospitality
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By analyzing existing cross correlation between S Khonkaen Foods and Grande Hospitality Real, you can compare the effects of market volatilities on S Khonkaen and Grande Hospitality 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 S Khonkaen with a short position of Grande Hospitality. Check out your portfolio center. Please also check ongoing floating volatility patterns of S Khonkaen and Grande Hospitality.
Diversification Opportunities for S Khonkaen and Grande Hospitality
0.34 | Correlation Coefficient |
Weak diversification
The 3 months correlation between SORKON and Grande is 0.34. Overlapping area represents the amount of risk that can be diversified away by holding S Khonkaen Foods and Grande Hospitality Real in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Grande Hospitality Real and S Khonkaen 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 S Khonkaen Foods are associated (or correlated) with Grande Hospitality. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Grande Hospitality Real has no effect on the direction of S Khonkaen i.e., S Khonkaen and Grande Hospitality go up and down completely randomly.
Pair Corralation between S Khonkaen and Grande Hospitality
Assuming the 90 days trading horizon S Khonkaen Foods is expected to generate 63.82 times more return on investment than Grande Hospitality. However, S Khonkaen is 63.82 times more volatile than Grande Hospitality Real. It trades about 0.06 of its potential returns per unit of risk. Grande Hospitality Real is currently generating about -0.02 per unit of risk. If you would invest 412.00 in S Khonkaen Foods on September 14, 2024 and sell it today you would earn a total of 16.00 from holding S Khonkaen Foods or generate 3.88% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
S Khonkaen Foods vs. Grande Hospitality Real
Performance |
| Timeline |
| S Khonkaen Foods |
| Grande Hospitality Real |
S Khonkaen and Grande Hospitality Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with S Khonkaen and Grande Hospitality
The main advantage of trading using opposite S Khonkaen and Grande Hospitality positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if S Khonkaen position performs unexpectedly, Grande Hospitality 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 Grande Hospitality will offset losses from the drop in Grande Hospitality's long position.| S Khonkaen vs. Thaitheparos Public | S Khonkaen vs. Surapon Foods Public | S Khonkaen vs. Tipco Foods Public | S Khonkaen vs. Haad Thip Public |
| Grande Hospitality vs. S Hotels and | Grande Hospitality vs. S Khonkaen Foods | Grande Hospitality vs. LH Hotel Leasehold | Grande Hospitality vs. Central Retail |
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 Crypto Correlations module to use cryptocurrency correlation module to diversify your cryptocurrency portfolio across multiple coins.
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