Correlation Between ATP 30 and CP ALL
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By analyzing existing cross correlation between ATP 30 Public and CP ALL Public, you can compare the effects of market volatilities on ATP 30 and CP ALL 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 ATP 30 with a short position of CP ALL. Check out your portfolio center. Please also check ongoing floating volatility patterns of ATP 30 and CP ALL.
Diversification Opportunities for ATP 30 and CP ALL
Modest diversification
The 3 months correlation between ATP and CPALL-R is 0.25. Overlapping area represents the amount of risk that can be diversified away by holding ATP 30 Public and CP ALL Public in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on CP ALL Public and ATP 30 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 ATP 30 Public are associated (or correlated) with CP ALL. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of CP ALL Public has no effect on the direction of ATP 30 i.e., ATP 30 and CP ALL go up and down completely randomly.
Pair Corralation between ATP 30 and CP ALL
Assuming the 90 days trading horizon ATP 30 Public is expected to generate 2.17 times more return on investment than CP ALL. However, ATP 30 is 2.17 times more volatile than CP ALL Public. It trades about 0.24 of its potential returns per unit of risk. CP ALL Public is currently generating about -0.04 per unit of risk. If you would invest 93.00 in ATP 30 Public on September 4, 2024 and sell it today you would earn a total of 13.00 from holding ATP 30 Public or generate 13.98% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
ATP 30 Public vs. CP ALL Public
Performance |
| Timeline |
| ATP 30 Public |
| CP ALL Public |
ATP 30 and CP ALL Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with ATP 30 and CP ALL
The main advantage of trading using opposite ATP 30 and CP ALL positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if ATP 30 position performs unexpectedly, CP ALL 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 CP ALL will offset losses from the drop in CP ALL's long position.| ATP 30 vs. CP ALL Public | ATP 30 vs. Airports of Thailand | ATP 30 vs. The Erawan Group | ATP 30 vs. Autocorp Holding Public |
| CP ALL vs. Airports of Thailand | CP ALL vs. CP ALL Public | CP ALL vs. Charoen Pokphand Foods | CP ALL vs. Bangkok Dusit Medical |
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 Portfolio Dashboard module to portfolio dashboard that provides centralized access to all your investments.
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