Correlation Between Com7 PCL and B GRIMM
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By analyzing existing cross correlation between Com7 PCL and B GRIMM POWER, you can compare the effects of market volatilities on Com7 PCL and B GRIMM 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 Com7 PCL with a short position of B GRIMM. Check out your portfolio center. Please also check ongoing floating volatility patterns of Com7 PCL and B GRIMM.
Diversification Opportunities for Com7 PCL and B GRIMM
Very good diversification
The 3 months correlation between Com7 and BGRIM-R is -0.47. Overlapping area represents the amount of risk that can be diversified away by holding Com7 PCL and B GRIMM POWER in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on B GRIMM POWER and Com7 PCL 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 Com7 PCL are associated (or correlated) with B GRIMM. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of B GRIMM POWER has no effect on the direction of Com7 PCL i.e., Com7 PCL and B GRIMM go up and down completely randomly.
Pair Corralation between Com7 PCL and B GRIMM
Assuming the 90 days trading horizon Com7 PCL is expected to generate 0.88 times more return on investment than B GRIMM. However, Com7 PCL is 1.14 times less risky than B GRIMM. It trades about -0.01 of its potential returns per unit of risk. B GRIMM POWER is currently generating about -0.04 per unit of risk. If you would invest 3,295 in Com7 PCL on September 24, 2024 and sell it today you would lose (620.00) from holding Com7 PCL or give up 18.82% of portfolio value over 90 days.
Time Period | 3 Months [change] |
Direction | Moves Against |
Strength | Very Weak |
Accuracy | 100.0% |
Values | Daily Returns |
Com7 PCL vs. B GRIMM POWER
Performance |
Timeline |
Com7 PCL |
B GRIMM POWER |
Com7 PCL and B GRIMM Volatility Contrast
Predicted Return Density |
Returns |
Pair Trading with Com7 PCL and B GRIMM
The main advantage of trading using opposite Com7 PCL and B GRIMM positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Com7 PCL position performs unexpectedly, B GRIMM 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 B GRIMM will offset losses from the drop in B GRIMM's long position.Com7 PCL vs. CP ALL Public | Com7 PCL vs. Home Product Center | Com7 PCL vs. Minor International Public | Com7 PCL vs. Bangkok Dusit Medical |
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