Correlation Between Supalai Public and Frasers Property
Specify exactly 2 symbols:
By analyzing existing cross correlation between Supalai Public and Frasers Property Public, you can compare the effects of market volatilities on Supalai Public and Frasers Property 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 Supalai Public with a short position of Frasers Property. Check out your portfolio center. Please also check ongoing floating volatility patterns of Supalai Public and Frasers Property.
Diversification Opportunities for Supalai Public and Frasers Property
0.3 | Correlation Coefficient |
Weak diversification
The 3 months correlation between Supalai and Frasers is 0.3. Overlapping area represents the amount of risk that can be diversified away by holding Supalai Public and Frasers Property Public in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Frasers Property Public and Supalai Public 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 Supalai Public are associated (or correlated) with Frasers Property. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Frasers Property Public has no effect on the direction of Supalai Public i.e., Supalai Public and Frasers Property go up and down completely randomly.
Pair Corralation between Supalai Public and Frasers Property
Assuming the 90 days trading horizon Supalai Public is expected to generate 52.27 times more return on investment than Frasers Property. However, Supalai Public is 52.27 times more volatile than Frasers Property Public. It trades about 0.07 of its potential returns per unit of risk. Frasers Property Public is currently generating about -0.03 per unit of risk. If you would invest 2,119 in Supalai Public on September 26, 2024 and sell it today you would lose (299.00) from holding Supalai Public or give up 14.11% of portfolio value over 90 days.
Time Period | 3 Months [change] |
Direction | Moves Together |
Strength | Very Weak |
Accuracy | 100.0% |
Values | Daily Returns |
Supalai Public vs. Frasers Property Public
Performance |
Timeline |
Supalai Public |
Frasers Property Public |
Supalai Public and Frasers Property Volatility Contrast
Predicted Return Density |
Returns |
Pair Trading with Supalai Public and Frasers Property
The main advantage of trading using opposite Supalai Public and Frasers Property positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Supalai Public position performs unexpectedly, Frasers Property 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 Frasers Property will offset losses from the drop in Frasers Property's long position.Supalai Public vs. Frasers Property Public | Supalai Public vs. Singha Estate Public | Supalai Public vs. Areeya Property Public | Supalai Public vs. Asset Five Group |
Frasers Property vs. Singha Estate Public | Frasers Property vs. Areeya Property Public | Frasers Property vs. Asset Five Group | Frasers Property vs. PINTHONG 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 Price Exposure Probability module to analyze equity upside and downside potential for a given time horizon across multiple markets.
Other Complementary Tools
Balance Of Power Check stock momentum by analyzing Balance Of Power indicator and other technical ratios | |
Commodity Channel Use Commodity Channel Index to analyze current equity momentum | |
Fundamentals Comparison Compare fundamentals across multiple equities to find investing opportunities | |
Latest Portfolios Quick portfolio dashboard that showcases your latest portfolios | |
Price Transformation Use Price Transformation models to analyze the depth of different equity instruments across global markets |