Correlation Between SANOK RUBBER and AOI Electronics
Can any of the company-specific risk be diversified away by investing in both SANOK RUBBER and AOI Electronics 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 SANOK RUBBER and AOI Electronics into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between SANOK RUBBER ZY and AOI Electronics Co, you can compare the effects of market volatilities on SANOK RUBBER and AOI Electronics 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 SANOK RUBBER with a short position of AOI Electronics. Check out your portfolio center. Please also check ongoing floating volatility patterns of SANOK RUBBER and AOI Electronics.
Diversification Opportunities for SANOK RUBBER and AOI Electronics
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between SANOK and AOI is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding SANOK RUBBER ZY and AOI Electronics Co in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on AOI Electronics and SANOK RUBBER 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 SANOK RUBBER ZY are associated (or correlated) with AOI Electronics. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of AOI Electronics has no effect on the direction of SANOK RUBBER i.e., SANOK RUBBER and AOI Electronics go up and down completely randomly.
Pair Corralation between SANOK RUBBER and AOI Electronics
If you would invest 496.00 in SANOK RUBBER ZY on November 9, 2024 and sell it today you would earn a total of 14.00 from holding SANOK RUBBER ZY or generate 2.82% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
SANOK RUBBER ZY vs. AOI Electronics Co
Performance |
| Timeline |
| SANOK RUBBER ZY |
| AOI Electronics |
SANOK RUBBER and AOI Electronics Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with SANOK RUBBER and AOI Electronics
The main advantage of trading using opposite SANOK RUBBER and AOI Electronics positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if SANOK RUBBER position performs unexpectedly, AOI Electronics 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 AOI Electronics will offset losses from the drop in AOI Electronics' long position.| SANOK RUBBER vs. Siamgas And Petrochemicals | SANOK RUBBER vs. SILICON LABORATOR | SANOK RUBBER vs. Nufarm Limited | SANOK RUBBER vs. China BlueChemical |
| AOI Electronics vs. Zijin Mining Group | AOI Electronics vs. ARDAGH METAL PACDL 0001 | AOI Electronics vs. Lamar Advertising | AOI Electronics vs. Pembina Pipeline Corp |
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 Efficient Frontier module to plot and analyze your portfolio and positions against risk-return landscape of the market..
Other Complementary Tools
| Portfolio Volatility Check portfolio volatility and analyze historical return density to properly model market risk | |
| Equity Analysis Research over 250,000 global equities including funds, stocks and ETFs to find investment opportunities | |
| My Watchlist Analysis Analyze my current watchlist and to refresh optimization strategy. Macroaxis watchlist is based on self-learning algorithm to remember stocks you like | |
| Latest Portfolios Quick portfolio dashboard that showcases your latest portfolios | |
| Share Portfolio Track or share privately all of your investments from the convenience of any device |