Correlation Between Sriracha Construction and Bhiraj Office
Specify exactly 2 symbols:
By analyzing existing cross correlation between Sriracha Construction Public and Bhiraj Office Leasehold, you can compare the effects of market volatilities on Sriracha Construction and Bhiraj Office 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 Sriracha Construction with a short position of Bhiraj Office. Check out your portfolio center. Please also check ongoing floating volatility patterns of Sriracha Construction and Bhiraj Office.
Diversification Opportunities for Sriracha Construction and Bhiraj Office
0.01 | Correlation Coefficient |
Significant diversification
The 3 months correlation between Sriracha and Bhiraj is 0.01. Overlapping area represents the amount of risk that can be diversified away by holding Sriracha Construction Public and Bhiraj Office Leasehold in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Bhiraj Office Leasehold and Sriracha Construction 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 Sriracha Construction Public are associated (or correlated) with Bhiraj Office. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Bhiraj Office Leasehold has no effect on the direction of Sriracha Construction i.e., Sriracha Construction and Bhiraj Office go up and down completely randomly.
Pair Corralation between Sriracha Construction and Bhiraj Office
Assuming the 90 days trading horizon Sriracha Construction Public is expected to under-perform the Bhiraj Office. In addition to that, Sriracha Construction is 2.49 times more volatile than Bhiraj Office Leasehold. It trades about -0.04 of its total potential returns per unit of risk. Bhiraj Office Leasehold is currently generating about -0.04 per unit of volatility. If you would invest 630.00 in Bhiraj Office Leasehold on August 26, 2024 and sell it today you would lose (132.00) from holding Bhiraj Office Leasehold or give up 20.95% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Sriracha Construction Public vs. Bhiraj Office Leasehold
Performance |
| Timeline |
| Sriracha Construction |
| Bhiraj Office Leasehold |
Sriracha Construction and Bhiraj Office Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Sriracha Construction and Bhiraj Office
The main advantage of trading using opposite Sriracha Construction and Bhiraj Office positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Sriracha Construction position performs unexpectedly, Bhiraj Office 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 Bhiraj Office will offset losses from the drop in Bhiraj Office's long position.| Sriracha Construction vs. Tata Steel Public | Sriracha Construction vs. Thaifoods Group Public | Sriracha Construction vs. TMT Steel Public | Sriracha Construction vs. The Erawan Group |
| Bhiraj Office vs. Delta Electronics Public | Bhiraj Office vs. Delta Electronics Public | Bhiraj Office vs. Airports of Thailand | Bhiraj Office vs. Airports of Thailand |
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 Fundamental Analysis module to view fundamental data based on most recent published financial statements.
Other Complementary Tools
| Global Markets Map Get a quick overview of global market snapshot using zoomable world map. Drill down to check world indexes | |
| Bonds Directory Find actively traded corporate debentures issued by US companies | |
| Idea Analyzer Analyze all characteristics, volatility and risk-adjusted return of Macroaxis ideas | |
| Theme Ratings Determine theme ratings based on digital equity recommendations. Macroaxis theme ratings are based on combination of fundamental analysis and risk-adjusted market performance | |
| Stocks Directory Find actively traded stocks across global markets |