Correlation Between Vastned Retail and Internet Thailand
Can any of the company-specific risk be diversified away by investing in both Vastned Retail and Internet Thailand at the same time? Although using a correlation coefficient on its own may not help to predict future stock returns, this module helps to understand the diversifiable risk of combining Vastned Retail and Internet Thailand into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Vastned Retail NV and Internet Thailand PCL, you can compare the effects of market volatilities on Vastned Retail and Internet Thailand 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 Vastned Retail with a short position of Internet Thailand. Check out your portfolio center. Please also check ongoing floating volatility patterns of Vastned Retail and Internet Thailand.
Diversification Opportunities for Vastned Retail and Internet Thailand
-0.03 | Correlation Coefficient |
Good diversification
The 3 months correlation between Vastned and Internet is -0.03. Overlapping area represents the amount of risk that can be diversified away by holding Vastned Retail NV and Internet Thailand PCL in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Internet Thailand PCL and Vastned Retail 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 Vastned Retail NV are associated (or correlated) with Internet Thailand. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Internet Thailand PCL has no effect on the direction of Vastned Retail i.e., Vastned Retail and Internet Thailand go up and down completely randomly.
Pair Corralation between Vastned Retail and Internet Thailand
Assuming the 90 days horizon Vastned Retail NV is expected to under-perform the Internet Thailand. But the stock apears to be less risky and, when comparing its historical volatility, Vastned Retail NV is 7.49 times less risky than Internet Thailand. The stock trades about -0.13 of its potential returns per unit of risk. The Internet Thailand PCL is currently generating about 0.42 of returns per unit of risk over similar time horizon. If you would invest 11.00 in Internet Thailand PCL on August 25, 2024 and sell it today you would earn a total of 8.00 from holding Internet Thailand PCL or generate 72.73% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Vastned Retail NV vs. Internet Thailand PCL
Performance |
| Timeline |
| Vastned Retail NV |
| Internet Thailand PCL |
Vastned Retail and Internet Thailand Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Vastned Retail and Internet Thailand
The main advantage of trading using opposite Vastned Retail and Internet Thailand positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Vastned Retail position performs unexpectedly, Internet Thailand 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 Internet Thailand will offset losses from the drop in Internet Thailand's long position.| Vastned Retail vs. Simon Property Group | Vastned Retail vs. Vicinity Centres | Vastned Retail vs. Superior Plus Corp | Vastned Retail vs. NMI Holdings |
| Internet Thailand vs. Gladstone Investment | Internet Thailand vs. ECHO INVESTMENT ZY | Internet Thailand vs. Vastned Retail NV | Internet Thailand vs. AOYAMA TRADING |
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 Top Crypto Exchanges module to search and analyze digital assets across top global cryptocurrency exchanges.
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