Correlation Between Autocorp Holding and Ichitan Group
Can any of the company-specific risk be diversified away by investing in both Autocorp Holding and Ichitan Group 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 Autocorp Holding and Ichitan Group into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Autocorp Holding Public and Ichitan Group Public, you can compare the effects of market volatilities on Autocorp Holding and Ichitan Group 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 Autocorp Holding with a short position of Ichitan Group. Check out your portfolio center. Please also check ongoing floating volatility patterns of Autocorp Holding and Ichitan Group.
Diversification Opportunities for Autocorp Holding and Ichitan Group
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Autocorp and Ichitan is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Autocorp Holding Public and Ichitan Group Public in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Ichitan Group Public and Autocorp Holding 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 Autocorp Holding Public are associated (or correlated) with Ichitan Group. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Ichitan Group Public has no effect on the direction of Autocorp Holding i.e., Autocorp Holding and Ichitan Group go up and down completely randomly.
Pair Corralation between Autocorp Holding and Ichitan Group
If you would invest 148.00 in Autocorp Holding Public on September 23, 2024 and sell it today you would lose (57.00) from holding Autocorp Holding Public or give up 38.51% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 0.0% |
| Values | Daily Returns |
Autocorp Holding Public vs. Ichitan Group Public
Performance |
| Timeline |
| Autocorp Holding Public |
| Ichitan Group Public |
Autocorp Holding and Ichitan Group Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Autocorp Holding and Ichitan Group
The main advantage of trading using opposite Autocorp Holding and Ichitan Group positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Autocorp Holding position performs unexpectedly, Ichitan Group 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 Ichitan Group will offset losses from the drop in Ichitan Group's long position.| Autocorp Holding vs. Amanah Leasing Public | Autocorp Holding vs. Asia Fiber Public | Autocorp Holding vs. Ingress Industrial Public | Autocorp Holding vs. Ekarat Engineering Public |
| Ichitan Group vs. Ichitan Group Public | Ichitan Group vs. The Siam Commercial | Ichitan Group vs. Rojana Industrial Park | Ichitan Group vs. WHA Utilities and |
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 Price Transformation module to use Price Transformation models to analyze the depth of different equity instruments across global markets.
Other Complementary Tools
| Top Crypto Exchanges Search and analyze digital assets across top global cryptocurrency exchanges | |
| Price Exposure Probability Analyze equity upside and downside potential for a given time horizon across multiple markets | |
| Pattern Recognition Use different Pattern Recognition models to time the market across multiple global exchanges | |
| Portfolio Volatility Check portfolio volatility and analyze historical return density to properly model market risk | |
| Commodity Channel Use Commodity Channel Index to analyze current equity momentum |