Correlation Between Advanced Info and Ekachai Medical
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By analyzing existing cross correlation between Advanced Info Service and Ekachai Medical Care, you can compare the effects of market volatilities on Advanced Info and Ekachai Medical 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 Advanced Info with a short position of Ekachai Medical. Check out your portfolio center. Please also check ongoing floating volatility patterns of Advanced Info and Ekachai Medical.
Diversification Opportunities for Advanced Info and Ekachai Medical
-0.1 | Correlation Coefficient |
Good diversification
The 3 months correlation between Advanced and Ekachai is -0.1. Overlapping area represents the amount of risk that can be diversified away by holding Advanced Info Service and Ekachai Medical Care in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Ekachai Medical Care and Advanced Info 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 Advanced Info Service are associated (or correlated) with Ekachai Medical. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Ekachai Medical Care has no effect on the direction of Advanced Info i.e., Advanced Info and Ekachai Medical go up and down completely randomly.
Pair Corralation between Advanced Info and Ekachai Medical
Assuming the 90 days trading horizon Advanced Info Service is expected to generate 275.09 times more return on investment than Ekachai Medical. However, Advanced Info is 275.09 times more volatile than Ekachai Medical Care. It trades about 0.21 of its potential returns per unit of risk. Ekachai Medical Care is currently generating about -0.15 per unit of risk. If you would invest 22,216 in Advanced Info Service on September 1, 2024 and sell it today you would earn a total of 6,684 from holding Advanced Info Service or generate 30.09% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 81.82% |
| Values | Daily Returns |
Advanced Info Service vs. Ekachai Medical Care
Performance |
| Timeline |
| Advanced Info Service |
| Ekachai Medical Care |
Advanced Info and Ekachai Medical Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Advanced Info and Ekachai Medical
The main advantage of trading using opposite Advanced Info and Ekachai Medical positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Advanced Info position performs unexpectedly, Ekachai Medical 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 Ekachai Medical will offset losses from the drop in Ekachai Medical's long position.| Advanced Info vs. Intouch Holdings Public | Advanced Info vs. True Public | Advanced Info vs. Airports of Thailand | Advanced Info vs. The Siam Cement |
| Ekachai Medical vs. AP Public | Ekachai Medical vs. Advanced Information Technology | Ekachai Medical vs. AJ Plast Public | Ekachai Medical vs. Berli Jucker Public |
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 Balance Of Power module to check stock momentum by analyzing Balance Of Power indicator and other technical ratios.
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