Correlation Between Bangkok Dusit and PTT Exploration
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By analyzing existing cross correlation between Bangkok Dusit Medical and PTT Exploration and, you can compare the effects of market volatilities on Bangkok Dusit and PTT Exploration 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 Bangkok Dusit with a short position of PTT Exploration. Check out your portfolio center. Please also check ongoing floating volatility patterns of Bangkok Dusit and PTT Exploration.
Diversification Opportunities for Bangkok Dusit and PTT Exploration
1.0 | Correlation Coefficient |
No risk reduction
The 3 months correlation between Bangkok and PTT is 1.0. Overlapping area represents the amount of risk that can be diversified away by holding Bangkok Dusit Medical and PTT Exploration and in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on PTT Exploration and Bangkok Dusit 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 Bangkok Dusit Medical are associated (or correlated) with PTT Exploration. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of PTT Exploration has no effect on the direction of Bangkok Dusit i.e., Bangkok Dusit and PTT Exploration go up and down completely randomly.
Pair Corralation between Bangkok Dusit and PTT Exploration
Assuming the 90 days trading horizon Bangkok Dusit Medical is expected to generate 0.44 times more return on investment than PTT Exploration. However, Bangkok Dusit Medical is 2.27 times less risky than PTT Exploration. It trades about -0.21 of its potential returns per unit of risk. PTT Exploration and is currently generating about -0.21 per unit of risk. If you would invest 2,800 in Bangkok Dusit Medical on August 29, 2024 and sell it today you would lose (225.00) from holding Bangkok Dusit Medical or give up 8.04% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Strong |
| Accuracy | 100.0% |
| Values | Daily Returns |
Bangkok Dusit Medical vs. PTT Exploration and
Performance |
| Timeline |
| Bangkok Dusit Medical |
| PTT Exploration |
Bangkok Dusit and PTT Exploration Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Bangkok Dusit and PTT Exploration
The main advantage of trading using opposite Bangkok Dusit and PTT Exploration positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Bangkok Dusit position performs unexpectedly, PTT Exploration 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 PTT Exploration will offset losses from the drop in PTT Exploration's long position.| Bangkok Dusit vs. Syntec Construction Public | Bangkok Dusit vs. Quality Construction Products | Bangkok Dusit vs. Turnkey Communication Services | Bangkok Dusit vs. CHUWIT FARM PUBLIC |
| PTT Exploration vs. PTT Public | PTT Exploration vs. CP ALL Public | PTT Exploration vs. Airports of Thailand | PTT Exploration vs. PTT Exploration and |
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 Bonds Directory module to find actively traded corporate debentures issued by US companies.
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