Correlation Between Asia Fiber and Thaire Life
Can any of the company-specific risk be diversified away by investing in both Asia Fiber and Thaire Life 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 Asia Fiber and Thaire Life into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Asia Fiber Public and Thaire Life Assurance, you can compare the effects of market volatilities on Asia Fiber and Thaire Life 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 Asia Fiber with a short position of Thaire Life. Check out your portfolio center. Please also check ongoing floating volatility patterns of Asia Fiber and Thaire Life.
Diversification Opportunities for Asia Fiber and Thaire Life
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Asia and Thaire is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Asia Fiber Public and Thaire Life Assurance in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Thaire Life Assurance and Asia Fiber 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 Asia Fiber Public are associated (or correlated) with Thaire Life. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Thaire Life Assurance has no effect on the direction of Asia Fiber i.e., Asia Fiber and Thaire Life go up and down completely randomly.
Pair Corralation between Asia Fiber and Thaire Life
If you would invest (100.00) in Thaire Life Assurance on November 4, 2024 and sell it today you would earn a total of 100.00 from holding Thaire Life Assurance or generate -100.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 0.0% |
| Values | Daily Returns |
Asia Fiber Public vs. Thaire Life Assurance
Performance |
| Timeline |
| Asia Fiber Public |
| Thaire Life Assurance |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
Asia Fiber and Thaire Life Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Asia Fiber and Thaire Life
The main advantage of trading using opposite Asia Fiber and Thaire Life positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Asia Fiber position performs unexpectedly, Thaire Life 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 Thaire Life will offset losses from the drop in Thaire Life's long position.| Asia Fiber vs. Aikchol Hospital Public | Asia Fiber vs. Allianz Ayudhya Capital | Asia Fiber vs. Advanced Information Technology |
| Thaire Life vs. Thai Reinsurance Public | Thaire Life vs. Ratchthani Leasing Public | Thaire Life vs. Thanachart Capital Public | Thaire Life vs. TISCO Financial Group |
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 Money Flow Index module to determine momentum by analyzing Money Flow Index and other technical indicators.
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