Correlation Between B GRIMM and PTT Public
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By analyzing existing cross correlation between B GRIMM POWER and PTT Public, you can compare the effects of market volatilities on B GRIMM and PTT 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 B GRIMM with a short position of PTT Public. Check out your portfolio center. Please also check ongoing floating volatility patterns of B GRIMM and PTT Public.
Diversification Opportunities for B GRIMM and PTT Public
0.44 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between BGRIM-R and PTT is 0.44. Overlapping area represents the amount of risk that can be diversified away by holding B GRIMM POWER and PTT Public in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on PTT Public 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 PTT Public. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of PTT Public has no effect on the direction of B GRIMM i.e., B GRIMM and PTT Public go up and down completely randomly.
Pair Corralation between B GRIMM and PTT Public
Assuming the 90 days trading horizon B GRIMM POWER is expected to under-perform the PTT Public. In addition to that, B GRIMM is 1.78 times more volatile than PTT Public. It trades about -0.61 of its total potential returns per unit of risk. PTT Public is currently generating about 0.07 per unit of volatility. If you would invest 3,100 in PTT Public on December 4, 2024 and sell it today you would earn a total of 50.00 from holding PTT Public or generate 1.61% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
B GRIMM POWER vs. PTT Public
Performance |
| Timeline |
| B GRIMM POWER |
| PTT Public |
B GRIMM and PTT Public Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with B GRIMM and PTT Public
The main advantage of trading using opposite B GRIMM and PTT Public positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if B GRIMM position performs unexpectedly, PTT 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 PTT Public will offset losses from the drop in PTT Public'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 |
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 Volatility module to check portfolio volatility and analyze historical return density to properly model market risk.
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