Correlation Between AEON Thana and RB FOOD
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By analyzing existing cross correlation between AEON Thana Sinsap and RB FOOD SUPPLY, you can compare the effects of market volatilities on AEON Thana and RB FOOD 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 AEON Thana with a short position of RB FOOD. Check out your portfolio center. Please also check ongoing floating volatility patterns of AEON Thana and RB FOOD.
Diversification Opportunities for AEON Thana and RB FOOD
0.1 | Correlation Coefficient |
Average diversification
The 3 months correlation between AEON and RBF-R is 0.1. Overlapping area represents the amount of risk that can be diversified away by holding AEON Thana Sinsap and RB FOOD SUPPLY in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on RB FOOD SUPPLY and AEON Thana 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 AEON Thana Sinsap are associated (or correlated) with RB FOOD. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of RB FOOD SUPPLY has no effect on the direction of AEON Thana i.e., AEON Thana and RB FOOD go up and down completely randomly.
Pair Corralation between AEON Thana and RB FOOD
Assuming the 90 days trading horizon AEON Thana Sinsap is expected to generate 25.59 times more return on investment than RB FOOD. However, AEON Thana is 25.59 times more volatile than RB FOOD SUPPLY. It trades about 0.22 of its potential returns per unit of risk. RB FOOD SUPPLY is currently generating about -0.14 per unit of risk. If you would invest 16,575 in AEON Thana Sinsap on September 5, 2024 and sell it today you would lose (4,075) from holding AEON Thana Sinsap or give up 24.59% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 69.57% |
| Values | Daily Returns |
AEON Thana Sinsap vs. RB FOOD SUPPLY
Performance |
| Timeline |
| AEON Thana Sinsap |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Good
| RB FOOD SUPPLY |
AEON Thana and RB FOOD Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with AEON Thana and RB FOOD
The main advantage of trading using opposite AEON Thana and RB FOOD positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if AEON Thana position performs unexpectedly, RB FOOD 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 RB FOOD will offset losses from the drop in RB FOOD's long position.| AEON Thana vs. City Sports and | AEON Thana vs. Charan Insurance Public | AEON Thana vs. Plan B Media | AEON Thana vs. Mena Transport Public |
| RB FOOD vs. Kingsmen CMTI Public | RB FOOD vs. Hydrotek Public | RB FOOD vs. Karmarts Public | RB FOOD vs. KC Metalsheet 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 Stocks Directory module to find actively traded stocks across global markets.
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