Correlation Between EPSILON HEALTHCARE and TMBThanachart Bank
Can any of the company-specific risk be diversified away by investing in both EPSILON HEALTHCARE and TMBThanachart Bank 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 EPSILON HEALTHCARE and TMBThanachart Bank into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between EPSILON HEALTHCARE LTD and TMBThanachart Bank Public, you can compare the effects of market volatilities on EPSILON HEALTHCARE and TMBThanachart Bank 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 EPSILON HEALTHCARE with a short position of TMBThanachart Bank. Check out your portfolio center. Please also check ongoing floating volatility patterns of EPSILON HEALTHCARE and TMBThanachart Bank.
Diversification Opportunities for EPSILON HEALTHCARE and TMBThanachart Bank
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between EPSILON and TMBThanachart is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding EPSILON HEALTHCARE LTD and TMBThanachart Bank Public in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on TMBThanachart Bank Public and EPSILON HEALTHCARE 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 EPSILON HEALTHCARE LTD are associated (or correlated) with TMBThanachart Bank. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of TMBThanachart Bank Public has no effect on the direction of EPSILON HEALTHCARE i.e., EPSILON HEALTHCARE and TMBThanachart Bank go up and down completely randomly.
Pair Corralation between EPSILON HEALTHCARE and TMBThanachart Bank
If you would invest 0.75 in EPSILON HEALTHCARE LTD on September 3, 2024 and sell it today you would earn a total of 0.00 from holding EPSILON HEALTHCARE LTD or generate 0.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 97.67% |
| Values | Daily Returns |
EPSILON HEALTHCARE LTD vs. TMBThanachart Bank Public
Performance |
| Timeline |
| EPSILON HEALTHCARE LTD |
| TMBThanachart Bank Public |
EPSILON HEALTHCARE and TMBThanachart Bank Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with EPSILON HEALTHCARE and TMBThanachart Bank
The main advantage of trading using opposite EPSILON HEALTHCARE and TMBThanachart Bank positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if EPSILON HEALTHCARE position performs unexpectedly, TMBThanachart Bank 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 TMBThanachart Bank will offset losses from the drop in TMBThanachart Bank's long position.| EPSILON HEALTHCARE vs. Scientific Games | EPSILON HEALTHCARE vs. Entravision Communications | EPSILON HEALTHCARE vs. Zoom Video Communications | EPSILON HEALTHCARE vs. China Communications Services |
| TMBThanachart Bank vs. CVS Health | TMBThanachart Bank vs. EPSILON HEALTHCARE LTD | TMBThanachart Bank vs. Liberty Broadband | TMBThanachart Bank vs. Gold Road Resources |
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 File Import module to quickly import all of your third-party portfolios from your local drive in csv format.
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