Correlation Between Amata Public and Bangkok Dusit
Specify exactly 2 symbols:
By analyzing existing cross correlation between Amata Public and Bangkok Dusit Medical, you can compare the effects of market volatilities on Amata Public and Bangkok Dusit 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 Amata Public with a short position of Bangkok Dusit. Check out your portfolio center. Please also check ongoing floating volatility patterns of Amata Public and Bangkok Dusit.
Diversification Opportunities for Amata Public and Bangkok Dusit
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Amata and Bangkok is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Amata Public and Bangkok Dusit Medical in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Bangkok Dusit Medical and Amata Public 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 Amata Public are associated (or correlated) with Bangkok Dusit. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Bangkok Dusit Medical has no effect on the direction of Amata Public i.e., Amata Public and Bangkok Dusit go up and down completely randomly.
Pair Corralation between Amata Public and Bangkok Dusit
Assuming the 90 days trading horizon Amata Public is expected to generate 166.75 times more return on investment than Bangkok Dusit. However, Amata Public is 166.75 times more volatile than Bangkok Dusit Medical. It trades about 0.22 of its potential returns per unit of risk. Bangkok Dusit Medical is currently generating about -0.28 per unit of risk. If you would invest 2,270 in Amata Public on September 2, 2024 and sell it today you would earn a total of 780.00 from holding Amata Public or generate 34.36% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 77.27% |
| Values | Daily Returns |
Amata Public vs. Bangkok Dusit Medical
Performance |
| Timeline |
| Amata Public |
| Bangkok Dusit Medical |
Amata Public and Bangkok Dusit Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Amata Public and Bangkok Dusit
The main advantage of trading using opposite Amata Public and Bangkok Dusit positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Amata Public position performs unexpectedly, Bangkok Dusit 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 Bangkok Dusit will offset losses from the drop in Bangkok Dusit's long position.| Amata Public vs. KT Medical Service | Amata Public vs. 3BB INTERNET INFRASTRUCTURE | Amata Public vs. Bangkok Dusit Medical | Amata Public vs. Asia Medical Agricultural |
| Bangkok Dusit vs. AP Public | Bangkok Dusit vs. Advanced Information Technology | Bangkok Dusit vs. AJ Plast Public | Bangkok Dusit 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 Share Portfolio module to track or share privately all of your investments from the convenience of any device.
Other Complementary Tools
| My Watchlist Analysis Analyze my current watchlist and to refresh optimization strategy. Macroaxis watchlist is based on self-learning algorithm to remember stocks you like | |
| Sync Your Broker Sync your existing holdings, watchlists, positions or portfolios from thousands of online brokerage services, banks, investment account aggregators and robo-advisors. | |
| Portfolio Dashboard Portfolio dashboard that provides centralized access to all your investments | |
| USA ETFs Find actively traded Exchange Traded Funds (ETF) in USA | |
| Equity Valuation Check real value of public entities based on technical and fundamental data |