Correlation Between MIRAMAR HOTEL and Keck Seng
Can any of the company-specific risk be diversified away by investing in both MIRAMAR HOTEL and Keck Seng at the same time? Although using a correlation coefficient on its own may not help to predict future stock returns, this module helps to understand the diversifiable risk of combining MIRAMAR HOTEL and Keck Seng into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between MIRAMAR HOTEL INV and Keck Seng Investments, you can compare the effects of market volatilities on MIRAMAR HOTEL and Keck Seng 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 MIRAMAR HOTEL with a short position of Keck Seng. Check out your portfolio center. Please also check ongoing floating volatility patterns of MIRAMAR HOTEL and Keck Seng.
Diversification Opportunities for MIRAMAR HOTEL and Keck Seng
-0.24 | Correlation Coefficient |
Very good diversification
The 3 months correlation between MIRAMAR and Keck is -0.24. Overlapping area represents the amount of risk that can be diversified away by holding MIRAMAR HOTEL INV and Keck Seng Investments in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Keck Seng Investments and MIRAMAR HOTEL 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 MIRAMAR HOTEL INV are associated (or correlated) with Keck Seng. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Keck Seng Investments has no effect on the direction of MIRAMAR HOTEL i.e., MIRAMAR HOTEL and Keck Seng go up and down completely randomly.
Pair Corralation between MIRAMAR HOTEL and Keck Seng
Assuming the 90 days trading horizon MIRAMAR HOTEL INV is expected to generate 0.13 times more return on investment than Keck Seng. However, MIRAMAR HOTEL INV is 7.5 times less risky than Keck Seng. It trades about 0.0 of its potential returns per unit of risk. Keck Seng Investments is currently generating about -0.01 per unit of risk. If you would invest 106.00 in MIRAMAR HOTEL INV on July 22, 2025 and sell it today you would earn a total of 0.00 from holding MIRAMAR HOTEL INV or generate 0.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
MIRAMAR HOTEL INV vs. Keck Seng Investments
Performance |
| Timeline |
| MIRAMAR HOTEL INV |
| Keck Seng Investments |
MIRAMAR HOTEL and Keck Seng Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with MIRAMAR HOTEL and Keck Seng
The main advantage of trading using opposite MIRAMAR HOTEL and Keck Seng positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if MIRAMAR HOTEL position performs unexpectedly, Keck Seng 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 Keck Seng will offset losses from the drop in Keck Seng's long position.| MIRAMAR HOTEL vs. Tamburi Investment Partners | MIRAMAR HOTEL vs. MGIC INVESTMENT | MIRAMAR HOTEL vs. BRIT AMER TOBACCO | MIRAMAR HOTEL vs. PRINCIPAL FINANCIAL |
| Keck Seng vs. United Microelectronics Corp | Keck Seng vs. BYD ELECTRONIC | Keck Seng vs. Nucletron Electronic Aktiengesellschaft | Keck Seng vs. Fortescue Metals Group |
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 Comparator module to compare the composition, asset allocations and performance of any two portfolios in your account.
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