Correlation Between LANDSEA GREEN and Siamgas

Specify exactly 2 symbols:
Can any of the company-specific risk be diversified away by investing in both LANDSEA GREEN and Siamgas at the same time? Although using a correlation coefficient on its own may not help to predict future stock returns, this module helps to understand the diversifiable risk of combining LANDSEA GREEN and Siamgas into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between LANDSEA GREEN MANAGEMENT and Siamgas And Petrochemicals, you can compare the effects of market volatilities on LANDSEA GREEN and Siamgas 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 LANDSEA GREEN with a short position of Siamgas. Check out your portfolio center. Please also check ongoing floating volatility patterns of LANDSEA GREEN and Siamgas.

Diversification Opportunities for LANDSEA GREEN and Siamgas

LANDSEASiamgasDiversified AwayLANDSEASiamgasDiversified Away100%
0.4
  Correlation Coefficient

Very weak diversification

The 3 months correlation between LANDSEA and Siamgas is 0.4. Overlapping area represents the amount of risk that can be diversified away by holding LANDSEA GREEN MANAGEMENT and Siamgas And Petrochemicals in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Siamgas And Petroche and LANDSEA GREEN 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 LANDSEA GREEN MANAGEMENT are associated (or correlated) with Siamgas. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Siamgas And Petroche has no effect on the direction of LANDSEA GREEN i.e., LANDSEA GREEN and Siamgas go up and down completely randomly.

Pair Corralation between LANDSEA GREEN and Siamgas

Assuming the 90 days horizon LANDSEA GREEN MANAGEMENT is expected to generate 93.88 times more return on investment than Siamgas. However, LANDSEA GREEN is 93.88 times more volatile than Siamgas And Petrochemicals. It trades about 0.16 of its potential returns per unit of risk. Siamgas And Petrochemicals is currently generating about 0.06 per unit of risk. If you would invest  0.10  in LANDSEA GREEN MANAGEMENT on November 18, 2024 and sell it today you would earn a total of  0.00  from holding LANDSEA GREEN MANAGEMENT or generate 0.0% return on investment over 90 days.
Time Period3 Months [change]
DirectionMoves Together 
StrengthWeak
Accuracy100.0%
ValuesDaily Returns

LANDSEA GREEN MANAGEMENT  vs.  Siamgas And Petrochemicals

 Performance 
JavaScript chart by amCharts 3.21.15Dec2025Feb 1,0002,0003,0004,000
JavaScript chart by amCharts 3.21.158G7 4QVA
       Timeline  
LANDSEA GREEN MANAGEMENT 

Risk-Adjusted Performance

Good

 
Weak
 
Strong
Compared to the overall equity markets, risk-adjusted returns on investments in LANDSEA GREEN MANAGEMENT are ranked lower than 12 (%) of all global equities and portfolios over the last 90 days. Despite nearly weak basic indicators, LANDSEA GREEN reported solid returns over the last few months and may actually be approaching a breakup point.
JavaScript chart by amCharts 3.21.15DecJanFebJanFeb0.00249999999999999840.0050.010.0150.020.0250.030.0350.04
Siamgas And Petroche 

Risk-Adjusted Performance

Insignificant

 
Weak
 
Strong
Compared to the overall equity markets, risk-adjusted returns on investments in Siamgas And Petrochemicals are ranked lower than 4 (%) of all global equities and portfolios over the last 90 days. In spite of comparatively weak basic indicators, Siamgas may actually be approaching a critical reversion point that can send shares even higher in March 2025.
JavaScript chart by amCharts 3.21.15DecJanFebJanFeb0.160.1650.170.1750.180.1850.19

LANDSEA GREEN and Siamgas Volatility Contrast

   Predicted Return Density   
JavaScript chart by amCharts 3.21.15-553.38-414.46-275.53-136.610.11148.35299.22450.09600.96 0.020.040.060.080.10
JavaScript chart by amCharts 3.21.158G7 4QVA
       Returns  

Pair Trading with LANDSEA GREEN and Siamgas

The main advantage of trading using opposite LANDSEA GREEN and Siamgas positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if LANDSEA GREEN position performs unexpectedly, Siamgas 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 Siamgas will offset losses from the drop in Siamgas' long position.
The idea behind LANDSEA GREEN MANAGEMENT and Siamgas And Petrochemicals pairs trading is to make the combined position market-neutral, meaning the overall market's direction will not affect its win or loss (or potential downside or upside). This can be achieved by designing a pairs trade with two highly correlated stocks or equities that operate in a similar space or sector, making it possible to obtain profits through simple and relatively low-risk investment.
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 Bond Analysis module to evaluate and analyze corporate bonds as a potential investment for your portfolios..

Other Complementary Tools

Content Syndication
Quickly integrate customizable finance content to your own investment portal
Price Exposure Probability
Analyze equity upside and downside potential for a given time horizon across multiple markets
Correlation Analysis
Reduce portfolio risk simply by holding instruments which are not perfectly correlated
Idea Breakdown
Analyze constituents of all Macroaxis ideas. Macroaxis investment ideas are predefined, sector-focused investing themes
Aroon Oscillator
Analyze current equity momentum using Aroon Oscillator and other momentum ratios