Correlation Between Delta Electronics and ALL ENERGY
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By analyzing existing cross correlation between Delta Electronics Public and ALL ENERGY UTILITIES, you can compare the effects of market volatilities on Delta Electronics and ALL ENERGY 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 Delta Electronics with a short position of ALL ENERGY. Check out your portfolio center. Please also check ongoing floating volatility patterns of Delta Electronics and ALL ENERGY.
Diversification Opportunities for Delta Electronics and ALL ENERGY
-0.77 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Delta and ALL is -0.77. Overlapping area represents the amount of risk that can be diversified away by holding Delta Electronics Public and ALL ENERGY UTILITIES in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on ALL ENERGY UTILITIES and Delta Electronics 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 Delta Electronics Public are associated (or correlated) with ALL ENERGY. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of ALL ENERGY UTILITIES has no effect on the direction of Delta Electronics i.e., Delta Electronics and ALL ENERGY go up and down completely randomly.
Pair Corralation between Delta Electronics and ALL ENERGY
Assuming the 90 days trading horizon Delta Electronics Public is expected to generate 0.39 times more return on investment than ALL ENERGY. However, Delta Electronics Public is 2.59 times less risky than ALL ENERGY. It trades about 0.13 of its potential returns per unit of risk. ALL ENERGY UTILITIES is currently generating about -0.08 per unit of risk. If you would invest 9,879 in Delta Electronics Public on December 1, 2024 and sell it today you would earn a total of 1,121 from holding Delta Electronics Public or generate 11.35% return on investment over 90 days.
Time Period | 3 Months [change] |
Direction | Moves Against |
Strength | Weak |
Accuracy | 100.0% |
Values | Daily Returns |
Delta Electronics Public vs. ALL ENERGY UTILITIES
Performance |
Timeline |
Delta Electronics Public |
ALL ENERGY UTILITIES |
Delta Electronics and ALL ENERGY Volatility Contrast
Predicted Return Density |
Returns |
Pair Trading with Delta Electronics and ALL ENERGY
The main advantage of trading using opposite Delta Electronics and ALL ENERGY positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Delta Electronics position performs unexpectedly, ALL ENERGY 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 ALL ENERGY will offset losses from the drop in ALL ENERGY's long position.Delta Electronics vs. Delta Electronics Public | Delta Electronics vs. PTT Public | Delta Electronics vs. CP ALL Public | Delta Electronics vs. The Siam Commercial |
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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 Pattern Recognition module to use different Pattern Recognition models to time the market across multiple global exchanges.
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