Correlation Between Airports and Kasikornbank Public
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By analyzing existing cross correlation between Airports of Thailand and Kasikornbank Public, you can compare the effects of market volatilities on Airports 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 Airports with a short position of Kasikornbank Public. Check out your portfolio center. Please also check ongoing floating volatility patterns of Airports and Kasikornbank Public.
Diversification Opportunities for Airports and Kasikornbank Public
0.05 | Correlation Coefficient |
Significant diversification
The 3 months correlation between Airports and Kasikornbank is 0.05. Overlapping area represents the amount of risk that can be diversified away by holding Airports of Thailand and Kasikornbank Public in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Kasikornbank 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 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 Airports i.e., Airports and Kasikornbank Public go up and down completely randomly.
Pair Corralation between Airports and Kasikornbank Public
Assuming the 90 days trading horizon Airports of Thailand is expected to under-perform the Kasikornbank Public. In addition to that, Airports is 4.42 times more volatile than Kasikornbank Public. It trades about -0.18 of its total potential returns per unit of risk. Kasikornbank Public is currently generating about 0.05 per unit of volatility. If you would invest 14,900 in Kasikornbank Public on August 28, 2024 and sell it today you would earn a total of 100.00 from holding Kasikornbank Public or generate 0.67% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Airports of Thailand vs. Kasikornbank Public
Performance |
| Timeline |
| Airports of Thailand |
| Kasikornbank Public |
Airports and Kasikornbank Public Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Airports and Kasikornbank Public
The main advantage of trading using opposite Airports and Kasikornbank Public positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Airports 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.| Airports vs. CP ALL Public | Airports vs. PTT Public | Airports vs. Bangkok Dusit Medical | Airports vs. The Siam Cement |
| Kasikornbank Public vs. PTT Public | Kasikornbank Public vs. CP ALL Public | Kasikornbank Public vs. SCB X Public | Kasikornbank Public vs. Airports of Thailand |
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 Efficient Frontier module to plot and analyze your portfolio and positions against risk-return landscape of the market..
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