Correlation Between B GRIMM and BANPU POWER
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By analyzing existing cross correlation between B GRIMM POWER and BANPU POWER, you can compare the effects of market volatilities on B GRIMM and BANPU POWER 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 B GRIMM with a short position of BANPU POWER. Check out your portfolio center. Please also check ongoing floating volatility patterns of B GRIMM and BANPU POWER.
Diversification Opportunities for B GRIMM and BANPU POWER
0.74 | Correlation Coefficient |
Poor diversification
The 3 months correlation between BGRIM-R and BANPU is 0.74. Overlapping area represents the amount of risk that can be diversified away by holding B GRIMM POWER and BANPU POWER in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on BANPU POWER and B GRIMM 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 B GRIMM POWER are associated (or correlated) with BANPU POWER. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of BANPU POWER has no effect on the direction of B GRIMM i.e., B GRIMM and BANPU POWER go up and down completely randomly.
Pair Corralation between B GRIMM and BANPU POWER
Assuming the 90 days trading horizon B GRIMM POWER is expected to under-perform the BANPU POWER. In addition to that, B GRIMM is 2.78 times more volatile than BANPU POWER. It trades about -0.03 of its total potential returns per unit of risk. BANPU POWER is currently generating about -0.02 per unit of volatility. If you would invest 1,333 in BANPU POWER on September 12, 2024 and sell it today you would lose (103.00) from holding BANPU POWER or give up 7.73% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Significant |
| Accuracy | 100.0% |
| Values | Daily Returns |
B GRIMM POWER vs. BANPU POWER
Performance |
| Timeline |
| B GRIMM POWER |
| BANPU POWER |
B GRIMM and BANPU POWER Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with B GRIMM and BANPU POWER
The main advantage of trading using opposite B GRIMM and BANPU POWER positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if B GRIMM position performs unexpectedly, BANPU POWER 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 BANPU POWER will offset losses from the drop in BANPU POWER's long position.| B GRIMM vs. BGrimm Power Public | B GRIMM vs. Bangkok Dusit Medical | B GRIMM vs. Electricity Generating Public | B GRIMM vs. PTT Public |
| BANPU POWER vs. Charoen Pokphand Foods | BANPU POWER vs. The Siam Cement | BANPU POWER vs. Ratch Group Public | BANPU POWER vs. Amata 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 Cryptocurrency Center module to build and monitor diversified portfolio of extremely risky digital assets and cryptocurrency.
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