Correlation Between PUBLIC and CapitaLand Investment
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By analyzing existing cross correlation between PUBLIC SVC O and CapitaLand Investment Limited, you can compare the effects of market volatilities on PUBLIC and CapitaLand Investment 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 PUBLIC with a short position of CapitaLand Investment. Check out your portfolio center. Please also check ongoing floating volatility patterns of PUBLIC and CapitaLand Investment.
Diversification Opportunities for PUBLIC and CapitaLand Investment
0.04 | Correlation Coefficient |
Significant diversification
The 3 months correlation between PUBLIC and CapitaLand is 0.04. Overlapping area represents the amount of risk that can be diversified away by holding PUBLIC SVC O and CapitaLand Investment Limited in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on CapitaLand Investment and 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 PUBLIC SVC O are associated (or correlated) with CapitaLand Investment. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of CapitaLand Investment has no effect on the direction of PUBLIC i.e., PUBLIC and CapitaLand Investment go up and down completely randomly.
Pair Corralation between PUBLIC and CapitaLand Investment
Assuming the 90 days trading horizon PUBLIC SVC O is expected to under-perform the CapitaLand Investment. But the bond apears to be less risky and, when comparing its historical volatility, PUBLIC SVC O is 3.18 times less risky than CapitaLand Investment. The bond trades about -0.01 of its potential returns per unit of risk. The CapitaLand Investment Limited is currently generating about 0.02 of returns per unit of risk over similar time horizon. If you would invest 226.00 in CapitaLand Investment Limited on September 12, 2024 and sell it today you would lose (27.00) from holding CapitaLand Investment Limited or give up 11.95% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 49.6% |
| Values | Daily Returns |
PUBLIC SVC O vs. CapitaLand Investment Limited
Performance |
| Timeline |
| PUBLIC SVC O |
| CapitaLand Investment |
PUBLIC and CapitaLand Investment Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with PUBLIC and CapitaLand Investment
The main advantage of trading using opposite PUBLIC and CapitaLand Investment positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if PUBLIC position performs unexpectedly, CapitaLand Investment 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 CapitaLand Investment will offset losses from the drop in CapitaLand Investment's long position.| PUBLIC vs. Lipocine | PUBLIC vs. Analog Devices | PUBLIC vs. Red Branch Technologies | PUBLIC vs. Apogee Enterprises |
| CapitaLand Investment vs. IRSA Inversiones Y | CapitaLand Investment vs. Anywhere Real Estate | CapitaLand Investment vs. Newmark Group | CapitaLand Investment vs. Wharf Real Estate |
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 Latest Portfolios module to quick portfolio dashboard that showcases your latest portfolios.
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