Correlation Between Airports and Intouch Holdings
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By analyzing existing cross correlation between Airports of Thailand and Intouch Holdings Public, you can compare the effects of market volatilities on Airports and Intouch Holdings 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 Airports with a short position of Intouch Holdings. Check out your portfolio center. Please also check ongoing floating volatility patterns of Airports and Intouch Holdings.
Diversification Opportunities for Airports and Intouch Holdings
-0.04 | Correlation Coefficient |
Good diversification
The 3 months correlation between Airports and Intouch is -0.04. Overlapping area represents the amount of risk that can be diversified away by holding Airports of Thailand and Intouch Holdings Public in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Intouch Holdings Public and Airports 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 Airports of Thailand are associated (or correlated) with Intouch Holdings. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Intouch Holdings Public has no effect on the direction of Airports i.e., Airports and Intouch Holdings go up and down completely randomly.
Pair Corralation between Airports and Intouch Holdings
Assuming the 90 days trading horizon Airports of Thailand is expected to under-perform the Intouch Holdings. In addition to that, Airports is 1.99 times more volatile than Intouch Holdings Public. It trades about -0.18 of its total potential returns per unit of risk. Intouch Holdings Public is currently generating about -0.11 per unit of volatility. If you would invest 10,450 in Intouch Holdings Public on August 28, 2024 and sell it today you would lose (450.00) from holding Intouch Holdings Public or give up 4.31% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 95.45% |
| Values | Daily Returns |
Airports of Thailand vs. Intouch Holdings Public
Performance |
| Timeline |
| Airports of Thailand |
| Intouch Holdings Public |
Airports and Intouch Holdings Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Airports and Intouch Holdings
The main advantage of trading using opposite Airports and Intouch Holdings positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Airports position performs unexpectedly, Intouch Holdings 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 Intouch Holdings will offset losses from the drop in Intouch Holdings' long position.| Airports vs. CP ALL Public | Airports vs. PTT Public | Airports vs. Bangkok Dusit Medical | Airports vs. The Siam Cement |
| Intouch Holdings vs. Advanced Info Service | Intouch Holdings vs. True Public | Intouch Holdings vs. CP ALL Public | Intouch Holdings vs. The Siam Cement |
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 Insider Screener module to find insiders across different sectors to evaluate their impact on performance.
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