Correlation Between Supalai Public and Frasers Property
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By analyzing existing cross correlation between Supalai Public and Frasers Property Public, you can compare the effects of market volatilities on Supalai Public and Frasers Property 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 Frasers Property. Check out your portfolio center. Please also check ongoing floating volatility patterns of Supalai Public and Frasers Property.
Diversification Opportunities for Supalai Public and Frasers Property
-0.13 | Correlation Coefficient |
Good diversification
The 3 months correlation between Supalai and Frasers is -0.13. Overlapping area represents the amount of risk that can be diversified away by holding Supalai Public and Frasers Property Public in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Frasers Property Public 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 Frasers Property. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Frasers Property Public has no effect on the direction of Supalai Public i.e., Supalai Public and Frasers Property go up and down completely randomly.
Pair Corralation between Supalai Public and Frasers Property
Assuming the 90 days trading horizon Supalai Public is expected to under-perform the Frasers Property. In addition to that, Supalai Public is 1.84 times more volatile than Frasers Property Public. It trades about -0.22 of its total potential returns per unit of risk. Frasers Property Public is currently generating about -0.15 per unit of volatility. If you would invest 1,269 in Frasers Property Public on August 31, 2024 and sell it today you would lose (49.00) from holding Frasers Property Public or give up 3.86% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Supalai Public vs. Frasers Property Public
Performance |
| Timeline |
| Supalai Public |
| Frasers Property Public |
Supalai Public and Frasers Property Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Supalai Public and Frasers Property
The main advantage of trading using opposite Supalai Public and Frasers Property positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Supalai Public position performs unexpectedly, Frasers Property 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 Frasers Property will offset losses from the drop in Frasers Property'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 |
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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 Investing Opportunities module to build portfolios using our predefined set of ideas and optimize them against your investing preferences.
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