Correlation Between Sri Panwa and CK Power
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By analyzing existing cross correlation between Sri panwa Hospitality and CK Power Public, you can compare the effects of market volatilities on Sri Panwa and CK Power 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 Sri Panwa with a short position of CK Power. Check out your portfolio center. Please also check ongoing floating volatility patterns of Sri Panwa and CK Power.
Diversification Opportunities for Sri Panwa and CK Power
Very good diversification
The 3 months correlation between Sri and CKP-R is -0.25. Overlapping area represents the amount of risk that can be diversified away by holding Sri panwa Hospitality and CK Power Public in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on CK Power Public and Sri Panwa 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 Sri panwa Hospitality are associated (or correlated) with CK Power. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of CK Power Public has no effect on the direction of Sri Panwa i.e., Sri Panwa and CK Power go up and down completely randomly.
Pair Corralation between Sri Panwa and CK Power
Assuming the 90 days trading horizon Sri panwa Hospitality is expected to generate 0.87 times more return on investment than CK Power. However, Sri panwa Hospitality is 1.15 times less risky than CK Power. It trades about 0.02 of its potential returns per unit of risk. CK Power Public is currently generating about -0.01 per unit of risk. If you would invest 528.00 in Sri panwa Hospitality on September 12, 2024 and sell it today you would earn a total of 42.00 from holding Sri panwa Hospitality or generate 7.95% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Sri panwa Hospitality vs. CK Power Public
Performance |
| Timeline |
| Sri panwa Hospitality |
| CK Power Public |
Sri Panwa and CK Power Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Sri Panwa and CK Power
The main advantage of trading using opposite Sri Panwa and CK Power positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Sri Panwa position performs unexpectedly, CK Power 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 CK Power will offset losses from the drop in CK Power's long position.| Sri Panwa vs. Dusit Thani Freehold | Sri Panwa vs. LH Hotel Leasehold | Sri Panwa vs. LH Shopping Centers | Sri Panwa vs. Grande Hospitality Real |
| CK Power vs. Sri panwa Hospitality | CK Power vs. Bumrungrad Hospital Public | CK Power vs. Ramkhamhaeng Hospital Public | CK Power vs. Quality Hospitality Leasehold |
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 Technical Analysis module to check basic technical indicators and analysis based on most latest market data.
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