Correlation Between LH Hotel and Asia Medical
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By analyzing existing cross correlation between LH Hotel Leasehold and Asia Medical Agricultural, you can compare the effects of market volatilities on LH Hotel and Asia Medical 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 LH Hotel with a short position of Asia Medical. Check out your portfolio center. Please also check ongoing floating volatility patterns of LH Hotel and Asia Medical.
Diversification Opportunities for LH Hotel and Asia Medical
0.16 | Correlation Coefficient |
Average diversification
The 3 months correlation between LHHOTEL and Asia is 0.16. Overlapping area represents the amount of risk that can be diversified away by holding LH Hotel Leasehold and Asia Medical Agricultural in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Asia Medical Agricultural and LH Hotel 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 LH Hotel Leasehold are associated (or correlated) with Asia Medical. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Asia Medical Agricultural has no effect on the direction of LH Hotel i.e., LH Hotel and Asia Medical go up and down completely randomly.
Pair Corralation between LH Hotel and Asia Medical
Assuming the 90 days trading horizon LH Hotel Leasehold is expected to generate 0.53 times more return on investment than Asia Medical. However, LH Hotel Leasehold is 1.9 times less risky than Asia Medical. It trades about 0.09 of its potential returns per unit of risk. Asia Medical Agricultural is currently generating about -0.01 per unit of risk. If you would invest 1,277 in LH Hotel Leasehold on September 15, 2024 and sell it today you would earn a total of 83.00 from holding LH Hotel Leasehold or generate 6.5% return on investment over 90 days.
Time Period | 3 Months [change] |
Direction | Moves Together |
Strength | Insignificant |
Accuracy | 100.0% |
Values | Daily Returns |
LH Hotel Leasehold vs. Asia Medical Agricultural
Performance |
Timeline |
LH Hotel Leasehold |
Asia Medical Agricultural |
LH Hotel and Asia Medical Volatility Contrast
Predicted Return Density |
Returns |
Pair Trading with LH Hotel and Asia Medical
The main advantage of trading using opposite LH Hotel and Asia Medical positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if LH Hotel position performs unexpectedly, Asia Medical 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 Asia Medical will offset losses from the drop in Asia Medical's long position.LH Hotel vs. LH Shopping Centers | LH Hotel vs. Quality Houses Property | LH Hotel vs. Impact Growth REIT | LH Hotel vs. CPN Retail Growth |
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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 Global Correlations module to find global opportunities by holding instruments from different markets.
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