Correlation Between CPN Retail and LH Shopping
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By analyzing existing cross correlation between CPN Retail Growth and LH Shopping Centers, you can compare the effects of market volatilities on CPN Retail and LH Shopping 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 CPN Retail with a short position of LH Shopping. Check out your portfolio center. Please also check ongoing floating volatility patterns of CPN Retail and LH Shopping.
Diversification Opportunities for CPN Retail and LH Shopping
0.29 | Correlation Coefficient |
Modest diversification
The 3 months correlation between CPN and LHSC is 0.29. Overlapping area represents the amount of risk that can be diversified away by holding CPN Retail Growth and LH Shopping Centers in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on LH Shopping Centers and CPN Retail 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 CPN Retail Growth are associated (or correlated) with LH Shopping. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of LH Shopping Centers has no effect on the direction of CPN Retail i.e., CPN Retail and LH Shopping go up and down completely randomly.
Pair Corralation between CPN Retail and LH Shopping
Assuming the 90 days trading horizon CPN Retail is expected to generate 1.4 times less return on investment than LH Shopping. In addition to that, CPN Retail is 1.84 times more volatile than LH Shopping Centers. It trades about 0.03 of its total potential returns per unit of risk. LH Shopping Centers is currently generating about 0.08 per unit of volatility. If you would invest 1,105 in LH Shopping Centers on November 23, 2024 and sell it today you would earn a total of 35.00 from holding LH Shopping Centers or generate 3.17% return on investment over 90 days.
Time Period | 3 Months [change] |
Direction | Moves Together |
Strength | Very Weak |
Accuracy | 100.0% |
Values | Daily Returns |
CPN Retail Growth vs. LH Shopping Centers
Performance |
Timeline |
CPN Retail Growth |
LH Shopping Centers |
CPN Retail and LH Shopping Volatility Contrast
Predicted Return Density |
Returns |
Pair Trading with CPN Retail and LH Shopping
The main advantage of trading using opposite CPN Retail and LH Shopping positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if CPN Retail position performs unexpectedly, LH Shopping 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 LH Shopping will offset losses from the drop in LH Shopping's long position.CPN Retail vs. Central Pattana Public | ||
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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 Portfolio File Import module to quickly import all of your third-party portfolios from your local drive in csv format.
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