Correlation Between Sri Panwa and Dusit Thani
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By analyzing existing cross correlation between Sri panwa Hospitality and Dusit Thani Freehold, you can compare the effects of market volatilities on Sri Panwa and Dusit Thani 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 Dusit Thani. Check out your portfolio center. Please also check ongoing floating volatility patterns of Sri Panwa and Dusit Thani.
Diversification Opportunities for Sri Panwa and Dusit Thani
0.35 | Correlation Coefficient |
Weak diversification
The 3 months correlation between Sri and Dusit is 0.35. Overlapping area represents the amount of risk that can be diversified away by holding Sri panwa Hospitality and Dusit Thani Freehold in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Dusit Thani Freehold 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 Dusit Thani. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Dusit Thani Freehold has no effect on the direction of Sri Panwa i.e., Sri Panwa and Dusit Thani go up and down completely randomly.
Pair Corralation between Sri Panwa and Dusit Thani
Assuming the 90 days trading horizon Sri panwa Hospitality is expected to under-perform the Dusit Thani. But the stock apears to be less risky and, when comparing its historical volatility, Sri panwa Hospitality is 28.77 times less risky than Dusit Thani. The stock trades about -0.01 of its potential returns per unit of risk. The Dusit Thani Freehold is currently generating about 0.04 of returns per unit of risk over similar time horizon. If you would invest 498.00 in Dusit Thani Freehold on September 4, 2024 and sell it today you would earn a total of 7.00 from holding Dusit Thani Freehold or generate 1.41% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Sri panwa Hospitality vs. Dusit Thani Freehold
Performance |
| Timeline |
| Sri panwa Hospitality |
| Dusit Thani Freehold |
Sri Panwa and Dusit Thani Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Sri Panwa and Dusit Thani
The main advantage of trading using opposite Sri Panwa and Dusit Thani positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Sri Panwa position performs unexpectedly, Dusit Thani 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 Dusit Thani will offset losses from the drop in Dusit Thani'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 |
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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 Balance Of Power module to check stock momentum by analyzing Balance Of Power indicator and other technical ratios.
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