Correlation Between Future Park and Surapon Foods
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By analyzing existing cross correlation between Future Park Leasehold and Surapon Foods Public, you can compare the effects of market volatilities on Future Park and Surapon Foods 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 Future Park with a short position of Surapon Foods. Check out your portfolio center. Please also check ongoing floating volatility patterns of Future Park and Surapon Foods.
Diversification Opportunities for Future Park and Surapon Foods
-0.37 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Future and Surapon is -0.37. Overlapping area represents the amount of risk that can be diversified away by holding Future Park Leasehold and Surapon Foods Public in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Surapon Foods Public and Future Park 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 Future Park Leasehold are associated (or correlated) with Surapon Foods. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Surapon Foods Public has no effect on the direction of Future Park i.e., Future Park and Surapon Foods go up and down completely randomly.
Pair Corralation between Future Park and Surapon Foods
Assuming the 90 days trading horizon Future Park Leasehold is expected to generate 147.73 times more return on investment than Surapon Foods. However, Future Park is 147.73 times more volatile than Surapon Foods Public. It trades about 0.11 of its potential returns per unit of risk. Surapon Foods Public is currently generating about -0.07 per unit of risk. If you would invest 1,120 in Future Park Leasehold on September 14, 2024 and sell it today you would lose (1,120) from holding Future Park Leasehold or give up 100.0% of portfolio value over 90 days.
Time Period | 3 Months [change] |
Direction | Moves Against |
Strength | Insignificant |
Accuracy | 86.67% |
Values | Daily Returns |
Future Park Leasehold vs. Surapon Foods Public
Performance |
Timeline |
Future Park Leasehold |
Surapon Foods Public |
Future Park and Surapon Foods Volatility Contrast
Predicted Return Density |
Returns |
Pair Trading with Future Park and Surapon Foods
The main advantage of trading using opposite Future Park and Surapon Foods positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Future Park position performs unexpectedly, Surapon Foods 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 Surapon Foods will offset losses from the drop in Surapon Foods' long position.Future Park vs. Quality Houses Property | Future Park vs. The Erawan Group | Future Park vs. Jay Mart Public | Future Park vs. Airports of Thailand |
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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 Fundamental Analysis module to view fundamental data based on most recent published financial statements.
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