Correlation Between SM Prime and Sino Land
Can any of the company-specific risk be diversified away by investing in both SM Prime and Sino Land 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 SM Prime and Sino Land into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between SM Prime Holdings and Sino Land Co, you can compare the effects of market volatilities on SM Prime and Sino Land 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 SM Prime with a short position of Sino Land. Check out your portfolio center. Please also check ongoing floating volatility patterns of SM Prime and Sino Land.
Diversification Opportunities for SM Prime and Sino Land
Excellent diversification
The 3 months correlation between SPHXF and Sino is -0.59. Overlapping area represents the amount of risk that can be diversified away by holding SM Prime Holdings and Sino Land Co in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Sino Land and SM Prime 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 SM Prime Holdings are associated (or correlated) with Sino Land. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Sino Land has no effect on the direction of SM Prime i.e., SM Prime and Sino Land go up and down completely randomly.
Pair Corralation between SM Prime and Sino Land
Assuming the 90 days horizon SM Prime Holdings is expected to under-perform the Sino Land. In addition to that, SM Prime is 1.51 times more volatile than Sino Land Co. It trades about -0.11 of its total potential returns per unit of risk. Sino Land Co is currently generating about 0.04 per unit of volatility. If you would invest 592.00 in Sino Land Co on September 1, 2025 and sell it today you would earn a total of 33.00 from holding Sino Land Co or generate 5.57% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 98.46% |
| Values | Daily Returns |
SM Prime Holdings vs. Sino Land Co
Performance |
| Timeline |
| SM Prime Holdings |
| Sino Land |
SM Prime and Sino Land Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with SM Prime and Sino Land
The main advantage of trading using opposite SM Prime and Sino Land positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if SM Prime position performs unexpectedly, Sino Land 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 Sino Land will offset losses from the drop in Sino Land's long position.| SM Prime vs. Orbite Technologies | SM Prime vs. 1mage Software | SM Prime vs. Trio Tech International | SM Prime vs. Lithium Tech Cp |
| Sino Land vs. E Home Household Service | Sino Land vs. InterContinental Hotels Group | Sino Land vs. Xenia Hotels Resorts | Sino Land vs. Hyatt Hotels |
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 Stock Screener module to find equities using a custom stock filter or screen asymmetry in trading patterns, price, volume, or investment outlook..
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