Correlation Between Supalai Public and Asian Sea
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By analyzing existing cross correlation between Supalai Public and Asian Sea, you can compare the effects of market volatilities on Supalai Public and Asian Sea 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 Supalai Public with a short position of Asian Sea. Check out your portfolio center. Please also check ongoing floating volatility patterns of Supalai Public and Asian Sea.
Diversification Opportunities for Supalai Public and Asian Sea
0.07 | Correlation Coefficient |
Significant diversification
The 3 months correlation between Supalai and Asian is 0.07. Overlapping area represents the amount of risk that can be diversified away by holding Supalai Public and Asian Sea in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Asian Sea and Supalai Public 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 Supalai Public are associated (or correlated) with Asian Sea. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Asian Sea has no effect on the direction of Supalai Public i.e., Supalai Public and Asian Sea go up and down completely randomly.
Pair Corralation between Supalai Public and Asian Sea
Assuming the 90 days trading horizon Supalai Public is expected to under-perform the Asian Sea. In addition to that, Supalai Public is 1.67 times more volatile than Asian Sea. It trades about -0.22 of its total potential returns per unit of risk. Asian Sea is currently generating about -0.26 per unit of volatility. If you would invest 915.00 in Asian Sea on August 31, 2024 and sell it today you would lose (65.00) from holding Asian Sea or give up 7.1% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 95.65% |
| Values | Daily Returns |
Supalai Public vs. Asian Sea
Performance |
| Timeline |
| Supalai Public |
| Asian Sea |
Supalai Public and Asian Sea Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Supalai Public and Asian Sea
The main advantage of trading using opposite Supalai Public and Asian Sea positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Supalai Public position performs unexpectedly, Asian Sea 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 Asian Sea will offset losses from the drop in Asian Sea's long position.| Supalai Public vs. Frasers Property Public | Supalai Public vs. Asset Five Group | Supalai Public vs. PINTHONG INDUSTRIAL PARK | Supalai Public vs. Arinsiri Land Public |
| Asian Sea vs. GFPT Public | Asian Sea vs. Carabao Group Public | Asian Sea vs. Thai Union Group | Asian Sea vs. Agripure Holdings Public |
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 Companies Directory module to evaluate performance of over 100,000 Stocks, Funds, and ETFs against different fundamentals.
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