Correlation Between CPN Retail and Thailand Prime
Specify exactly 2 symbols:
By analyzing existing cross correlation between CPN Retail Growth and Thailand Prime Property, you can compare the effects of market volatilities on CPN Retail and Thailand Prime 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 Thailand Prime. Check out your portfolio center. Please also check ongoing floating volatility patterns of CPN Retail and Thailand Prime.
Diversification Opportunities for CPN Retail and Thailand Prime
0.28 | Correlation Coefficient |
Modest diversification
The 3 months correlation between CPN and Thailand is 0.28. Overlapping area represents the amount of risk that can be diversified away by holding CPN Retail Growth and Thailand Prime Property in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Thailand Prime Property 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 Thailand Prime. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Thailand Prime Property has no effect on the direction of CPN Retail i.e., CPN Retail and Thailand Prime go up and down completely randomly.
Pair Corralation between CPN Retail and Thailand Prime
Assuming the 90 days trading horizon CPN Retail Growth is expected to generate 0.65 times more return on investment than Thailand Prime. However, CPN Retail Growth is 1.54 times less risky than Thailand Prime. It trades about 0.03 of its potential returns per unit of risk. Thailand Prime Property is currently generating about 0.01 per unit of risk. If you would invest 1,208 in CPN Retail Growth on November 23, 2024 and sell it today you would earn a total of 22.00 from holding CPN Retail Growth or generate 1.82% 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. Thailand Prime Property
Performance |
Timeline |
CPN Retail Growth |
Thailand Prime Property |
CPN Retail and Thailand Prime Volatility Contrast
Predicted Return Density |
Returns |
Pair Trading with CPN Retail and Thailand Prime
The main advantage of trading using opposite CPN Retail and Thailand Prime positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if CPN Retail position performs unexpectedly, Thailand Prime 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 Thailand Prime will offset losses from the drop in Thailand Prime's long position.CPN Retail vs. Central Pattana Public | ||
CPN Retail vs. Digital Telecommunications Infrastructure | ||
CPN Retail vs. Impact Growth REIT | ||
CPN Retail vs. WHA Premium Growth |
Thailand Prime vs. Amata Summit Growth | ||
Thailand Prime vs. CPN Commercial Growth | ||
Thailand Prime vs. Alucon Public | ||
Thailand Prime vs. Golden Ventures Leasehold |
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 Equity Valuation module to check real value of public entities based on technical and fundamental data.
Other Complementary Tools
Transaction History View history of all your transactions and understand their impact on performance | |
Bond Analysis Evaluate and analyze corporate bonds as a potential investment for your portfolios. | |
Fundamental Analysis View fundamental data based on most recent published financial statements | |
Idea Breakdown Analyze constituents of all Macroaxis ideas. Macroaxis investment ideas are predefined, sector-focused investing themes | |
Commodity Directory Find actively traded commodities issued by global exchanges |