Correlation Between SPCG Public and B GRIMM
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By analyzing existing cross correlation between SPCG Public and B GRIMM POWER, you can compare the effects of market volatilities on SPCG Public and B GRIMM 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 SPCG Public with a short position of B GRIMM. Check out your portfolio center. Please also check ongoing floating volatility patterns of SPCG Public and B GRIMM.
Diversification Opportunities for SPCG Public and B GRIMM
0.55 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between SPCG and BGRIM-R is 0.55. Overlapping area represents the amount of risk that can be diversified away by holding SPCG Public and B GRIMM POWER in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on B GRIMM POWER and SPCG 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 SPCG Public are associated (or correlated) with B GRIMM. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of B GRIMM POWER has no effect on the direction of SPCG Public i.e., SPCG Public and B GRIMM go up and down completely randomly.
Pair Corralation between SPCG Public and B GRIMM
Assuming the 90 days trading horizon SPCG Public is expected to generate 0.42 times more return on investment than B GRIMM. However, SPCG Public is 2.37 times less risky than B GRIMM. It trades about -0.07 of its potential returns per unit of risk. B GRIMM POWER is currently generating about -0.04 per unit of risk. If you would invest 1,140 in SPCG Public on September 14, 2024 and sell it today you would lose (290.00) from holding SPCG Public or give up 25.44% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 99.62% |
| Values | Daily Returns |
SPCG Public vs. B GRIMM POWER
Performance |
| Timeline |
| SPCG Public |
| B GRIMM POWER |
SPCG Public and B GRIMM Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with SPCG Public and B GRIMM
The main advantage of trading using opposite SPCG Public and B GRIMM positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if SPCG Public position performs unexpectedly, B GRIMM 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 B GRIMM will offset losses from the drop in B GRIMM's long position.| SPCG Public vs. BCPG Public | SPCG Public vs. TPI Polene Power | SPCG Public vs. BTS Group Holdings | SPCG Public vs. Energy Absolute Public |
| B GRIMM vs. BGrimm Power Public | B GRIMM vs. Bangkok Dusit Medical | B GRIMM vs. Electricity Generating Public | B GRIMM vs. PTT 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 Earnings Calls module to check upcoming earnings announcements updated hourly across public exchanges.
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