Correlation Between Areeya Property and Amata Public
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By analyzing existing cross correlation between Areeya Property Public and Amata Public, you can compare the effects of market volatilities on Areeya Property and Amata Public 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 Areeya Property with a short position of Amata Public. Check out your portfolio center. Please also check ongoing floating volatility patterns of Areeya Property and Amata Public.
Diversification Opportunities for Areeya Property and Amata Public
-0.09 | Correlation Coefficient |
Good diversification
The 3 months correlation between Areeya and Amata is -0.09. Overlapping area represents the amount of risk that can be diversified away by holding Areeya Property Public and Amata Public in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Amata Public and Areeya Property 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 Areeya Property Public are associated (or correlated) with Amata Public. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Amata Public has no effect on the direction of Areeya Property i.e., Areeya Property and Amata Public go up and down completely randomly.
Pair Corralation between Areeya Property and Amata Public
Given the investment horizon of 90 days Areeya Property is expected to generate 2.06 times less return on investment than Amata Public. But when comparing it to its historical volatility, Areeya Property Public is 1.43 times less risky than Amata Public. It trades about 0.04 of its potential returns per unit of risk. Amata Public is currently generating about 0.06 of returns per unit of risk over similar time horizon. If you would invest 2,124 in Amata Public on September 25, 2024 and sell it today you would earn a total of 146.00 from holding Amata Public or generate 6.87% return on investment over 90 days.
Time Period | 3 Months [change] |
Direction | Moves Against |
Strength | Insignificant |
Accuracy | 97.92% |
Values | Daily Returns |
Areeya Property Public vs. Amata Public
Performance |
Timeline |
Areeya Property Public |
Amata Public |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
OK
Areeya Property and Amata Public Volatility Contrast
Predicted Return Density |
Returns |
Pair Trading with Areeya Property and Amata Public
The main advantage of trading using opposite Areeya Property and Amata Public positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Areeya Property position performs unexpectedly, Amata Public 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 Amata Public will offset losses from the drop in Amata Public's long position.Areeya Property vs. Bangkok Bank Public | Areeya Property vs. The Siam Cement | Areeya Property vs. PTT Public | Areeya Property vs. SCB X Public |
Amata Public vs. Supalai Public | Amata Public vs. Frasers Property Public | Amata Public vs. Singha Estate Public | Amata Public vs. Areeya Property 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 Commodity Channel module to use Commodity Channel Index to analyze current equity momentum.
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