Correlation Between Ekarat Engineering and Kasikornbank Public
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By analyzing existing cross correlation between Ekarat Engineering Public and Kasikornbank Public, you can compare the effects of market volatilities on Ekarat Engineering and Kasikornbank Public 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 Ekarat Engineering with a short position of Kasikornbank Public. Check out your portfolio center. Please also check ongoing floating volatility patterns of Ekarat Engineering and Kasikornbank Public.
Diversification Opportunities for Ekarat Engineering and Kasikornbank Public
0.27 | Correlation Coefficient |
Modest diversification
The 3 months correlation between Ekarat and Kasikornbank is 0.27. Overlapping area represents the amount of risk that can be diversified away by holding Ekarat Engineering Public and Kasikornbank Public in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Kasikornbank Public and Ekarat Engineering 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 Ekarat Engineering Public are associated (or correlated) with Kasikornbank Public. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Kasikornbank Public has no effect on the direction of Ekarat Engineering i.e., Ekarat Engineering and Kasikornbank Public go up and down completely randomly.
Pair Corralation between Ekarat Engineering and Kasikornbank Public
Assuming the 90 days trading horizon Ekarat Engineering Public is expected to generate 57.68 times more return on investment than Kasikornbank Public. However, Ekarat Engineering is 57.68 times more volatile than Kasikornbank Public. It trades about 0.06 of its potential returns per unit of risk. Kasikornbank Public is currently generating about 0.07 per unit of risk. If you would invest 76.00 in Ekarat Engineering Public on September 12, 2024 and sell it today you would earn a total of 19.00 from holding Ekarat Engineering Public or generate 25.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Ekarat Engineering Public vs. Kasikornbank Public
Performance |
| Timeline |
| Ekarat Engineering Public |
| Kasikornbank Public |
Ekarat Engineering and Kasikornbank Public Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Ekarat Engineering and Kasikornbank Public
The main advantage of trading using opposite Ekarat Engineering and Kasikornbank Public positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Ekarat Engineering position performs unexpectedly, Kasikornbank Public 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 Kasikornbank Public will offset losses from the drop in Kasikornbank Public's long position.| Ekarat Engineering vs. Kasikornbank Public | Ekarat Engineering vs. Siamgas and Petrochemicals | Ekarat Engineering vs. Rich Sport Public | Ekarat Engineering vs. Bangkok Bank Public |
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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 Sign In To Macroaxis module to sign in to explore Macroaxis' wealth optimization platform and fintech modules.
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