Correlation Between WHA Premium and Future Park
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By analyzing existing cross correlation between WHA Premium Growth and Future Park Leasehold, you can compare the effects of market volatilities on WHA Premium and Future Park 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 WHA Premium with a short position of Future Park. Check out your portfolio center. Please also check ongoing floating volatility patterns of WHA Premium and Future Park.
Diversification Opportunities for WHA Premium and Future Park
-0.3 | Correlation Coefficient |
Very good diversification
The 3 months correlation between WHA and Future is -0.3. Overlapping area represents the amount of risk that can be diversified away by holding WHA Premium Growth and Future Park Leasehold in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Future Park Leasehold and WHA Premium 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 WHA Premium Growth are associated (or correlated) with Future Park. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Future Park Leasehold has no effect on the direction of WHA Premium i.e., WHA Premium and Future Park go up and down completely randomly.
Pair Corralation between WHA Premium and Future Park
Assuming the 90 days trading horizon WHA Premium Growth is expected to generate 0.06 times more return on investment than Future Park. However, WHA Premium Growth is 16.72 times less risky than Future Park. It trades about -0.03 of its potential returns per unit of risk. Future Park Leasehold is currently generating about -0.21 per unit of risk. If you would invest 1,011 in WHA Premium Growth on September 1, 2024 and sell it today you would lose (11.00) from holding WHA Premium Growth or give up 1.09% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
WHA Premium Growth vs. Future Park Leasehold
Performance |
| Timeline |
| WHA Premium Growth |
| Future Park Leasehold |
WHA Premium and Future Park Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with WHA Premium and Future Park
The main advantage of trading using opposite WHA Premium and Future Park positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if WHA Premium position performs unexpectedly, Future Park 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 Future Park will offset losses from the drop in Future Park's long position.| WHA Premium vs. Quality Houses Property | WHA Premium vs. Land and Houses | WHA Premium vs. LH Hotel Leasehold | WHA Premium vs. LH Shopping Centers |
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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 Portfolio Comparator module to compare the composition, asset allocations and performance of any two portfolios in your account.
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