Correlation Between Jasmine International and LH Hotel
Specify exactly 2 symbols:
By analyzing existing cross correlation between Jasmine International Public and LH Hotel Leasehold, you can compare the effects of market volatilities on Jasmine International and LH Hotel 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 Jasmine International with a short position of LH Hotel. Check out your portfolio center. Please also check ongoing floating volatility patterns of Jasmine International and LH Hotel.
Diversification Opportunities for Jasmine International and LH Hotel
0.65 | Correlation Coefficient |
Poor diversification
The 3 months correlation between Jasmine and LHHOTEL is 0.65. Overlapping area represents the amount of risk that can be diversified away by holding Jasmine International Public and LH Hotel Leasehold in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on LH Hotel Leasehold and Jasmine International 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 Jasmine International Public are associated (or correlated) with LH Hotel. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of LH Hotel Leasehold has no effect on the direction of Jasmine International i.e., Jasmine International and LH Hotel go up and down completely randomly.
Pair Corralation between Jasmine International and LH Hotel
Assuming the 90 days trading horizon Jasmine International Public is expected to under-perform the LH Hotel. In addition to that, Jasmine International is 2.21 times more volatile than LH Hotel Leasehold. It trades about -0.24 of its total potential returns per unit of risk. LH Hotel Leasehold is currently generating about 0.0 per unit of volatility. If you would invest 1,350 in LH Hotel Leasehold on December 1, 2024 and sell it today you would earn a total of 0.00 from holding LH Hotel Leasehold or generate 0.0% return on investment over 90 days.
Time Period | 3 Months [change] |
Direction | Moves Together |
Strength | Significant |
Accuracy | 96.72% |
Values | Daily Returns |
Jasmine International Public vs. LH Hotel Leasehold
Performance |
Timeline |
Jasmine International |
LH Hotel Leasehold |
Jasmine International and LH Hotel Volatility Contrast
Predicted Return Density |
Returns |
Pair Trading with Jasmine International and LH Hotel
The main advantage of trading using opposite Jasmine International and LH Hotel positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Jasmine International position performs unexpectedly, LH Hotel 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 Hotel will offset losses from the drop in LH Hotel's long position.Jasmine International vs. Muang Thai Insurance | Jasmine International vs. Peerapat Technology Public | Jasmine International vs. Thai Rubber Latex | Jasmine International vs. Inoue Rubber Public |
LH Hotel vs. LH Shopping Centers | LH Hotel vs. Quality Houses Property | LH Hotel vs. Impact Growth REIT | LH Hotel vs. CPN Retail Growth |
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 Commodity Channel module to use Commodity Channel Index to analyze current equity momentum.
Other Complementary Tools
Stocks Directory Find actively traded stocks across global markets | |
Content Syndication Quickly integrate customizable finance content to your own investment portal | |
Theme Ratings Determine theme ratings based on digital equity recommendations. Macroaxis theme ratings are based on combination of fundamental analysis and risk-adjusted market performance | |
Earnings Calls Check upcoming earnings announcements updated hourly across public exchanges | |
Funds Screener Find actively-traded funds from around the world traded on over 30 global exchanges |