Correlation Between Wyncoast Industrial and AEON Thana
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By analyzing existing cross correlation between Wyncoast Industrial Park and AEON Thana Sinsap, you can compare the effects of market volatilities on Wyncoast Industrial and AEON Thana 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 Wyncoast Industrial with a short position of AEON Thana. Check out your portfolio center. Please also check ongoing floating volatility patterns of Wyncoast Industrial and AEON Thana.
Diversification Opportunities for Wyncoast Industrial and AEON Thana
-0.02 | Correlation Coefficient |
Good diversification
The 3 months correlation between Wyncoast and AEON is -0.02. Overlapping area represents the amount of risk that can be diversified away by holding Wyncoast Industrial Park and AEON Thana Sinsap in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on AEON Thana Sinsap and Wyncoast Industrial 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 Wyncoast Industrial Park are associated (or correlated) with AEON Thana. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of AEON Thana Sinsap has no effect on the direction of Wyncoast Industrial i.e., Wyncoast Industrial and AEON Thana go up and down completely randomly.
Pair Corralation between Wyncoast Industrial and AEON Thana
If you would invest 16,575 in AEON Thana Sinsap on September 13, 2024 and sell it today you would earn a total of 0.00 from holding AEON Thana Sinsap or generate 0.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 90.0% |
| Values | Daily Returns |
Wyncoast Industrial Park vs. AEON Thana Sinsap
Performance |
| Timeline |
| Wyncoast Industrial Park |
| AEON Thana Sinsap |
Wyncoast Industrial and AEON Thana Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Wyncoast Industrial and AEON Thana
The main advantage of trading using opposite Wyncoast Industrial and AEON Thana positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Wyncoast Industrial position performs unexpectedly, AEON Thana 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 AEON Thana will offset losses from the drop in AEON Thana's long position.| Wyncoast Industrial vs. Wave Entertainment Public | Wyncoast Industrial vs. Vibhavadi Medical Center | Wyncoast Industrial vs. VGI Public | Wyncoast Industrial vs. WHA Public |
| AEON Thana vs. Dexon Technology PCL | AEON Thana vs. Siam Technic Concrete | AEON Thana vs. Thai Coating Industrial | AEON Thana vs. Wyncoast Industrial Park |
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 Equity Valuation module to check real value of public entities based on technical and fundamental data.
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