Correlation Between Super Energy and B GRIMM
Specify exactly 2 symbols:
By analyzing existing cross correlation between Super Energy and B GRIMM POWER, you can compare the effects of market volatilities on Super Energy 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 Super Energy with a short position of B GRIMM. Check out your portfolio center. Please also check ongoing floating volatility patterns of Super Energy and B GRIMM.
Diversification Opportunities for Super Energy and B GRIMM
0.44 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between Super and BGRIM-R is 0.44. Overlapping area represents the amount of risk that can be diversified away by holding Super Energy 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 Super Energy 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 Super Energy 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 Super Energy i.e., Super Energy and B GRIMM go up and down completely randomly.
Pair Corralation between Super Energy and B GRIMM
Assuming the 90 days trading horizon Super Energy is expected to generate 18.04 times more return on investment than B GRIMM. However, Super Energy is 18.04 times more volatile than B GRIMM POWER. It trades about 0.06 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 41.00 in Super Energy on September 14, 2024 and sell it today you would lose (14.00) from holding Super Energy or give up 34.15% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Super Energy vs. B GRIMM POWER
Performance |
| Timeline |
| Super Energy |
| B GRIMM POWER |
Super Energy and B GRIMM Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Super Energy and B GRIMM
The main advantage of trading using opposite Super Energy and B GRIMM positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Super Energy 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.| Super Energy vs. WHA Public | Super Energy vs. Global Power Synergy | Super Energy vs. TPI Polene Power | Super Energy vs. Bangkok Expressway and |
| 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 Volatility Analysis module to get historical volatility and risk analysis based on latest market data.
Other Complementary Tools
| Commodity Directory Find actively traded commodities issued by global exchanges | |
| Positions Ratings Determine portfolio positions ratings based on digital equity recommendations. Macroaxis instant position ratings are based on combination of fundamental analysis and risk-adjusted market performance | |
| Premium Stories Follow Macroaxis premium stories from verified contributors across different equity types, categories and coverage scope | |
| Aroon Oscillator Analyze current equity momentum using Aroon Oscillator and other momentum ratios | |
| AI Portfolio Architect Use AI to generate optimal portfolios and find profitable investment opportunities |