Correlation Between Berli Jucker and Saha Pathanapibul
Can any of the company-specific risk be diversified away by investing in both Berli Jucker and Saha Pathanapibul at the same time? Although using a correlation coefficient on its own may not help to predict future stock returns, this module helps to understand the diversifiable risk of combining Berli Jucker and Saha Pathanapibul into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Berli Jucker Public and Saha Pathanapibul Public, you can compare the effects of market volatilities on Berli Jucker and Saha Pathanapibul 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 Berli Jucker with a short position of Saha Pathanapibul. Check out your portfolio center. Please also check ongoing floating volatility patterns of Berli Jucker and Saha Pathanapibul.
Diversification Opportunities for Berli Jucker and Saha Pathanapibul
0.2 | Correlation Coefficient |
Modest diversification
The 3 months correlation between Berli and Saha is 0.2. Overlapping area represents the amount of risk that can be diversified away by holding Berli Jucker Public and Saha Pathanapibul Public in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Saha Pathanapibul Public and Berli Jucker 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 Berli Jucker Public are associated (or correlated) with Saha Pathanapibul. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Saha Pathanapibul Public has no effect on the direction of Berli Jucker i.e., Berli Jucker and Saha Pathanapibul go up and down completely randomly.
Pair Corralation between Berli Jucker and Saha Pathanapibul
Assuming the 90 days trading horizon Berli Jucker Public is expected to under-perform the Saha Pathanapibul. In addition to that, Berli Jucker is 3.41 times more volatile than Saha Pathanapibul Public. It trades about -0.04 of its total potential returns per unit of risk. Saha Pathanapibul Public is currently generating about -0.08 per unit of volatility. If you would invest 5,800 in Saha Pathanapibul Public on November 3, 2024 and sell it today you would lose (50.00) from holding Saha Pathanapibul Public or give up 0.86% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Berli Jucker Public vs. Saha Pathanapibul Public
Performance |
| Timeline |
| Berli Jucker Public |
| Saha Pathanapibul Public |
Berli Jucker and Saha Pathanapibul Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Berli Jucker and Saha Pathanapibul
The main advantage of trading using opposite Berli Jucker and Saha Pathanapibul positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Berli Jucker position performs unexpectedly, Saha Pathanapibul 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 Saha Pathanapibul will offset losses from the drop in Saha Pathanapibul's long position.| Berli Jucker vs. CP ALL Public | Berli Jucker vs. Bangkok Dusit Medical | Berli Jucker vs. BTS Group Holdings | Berli Jucker vs. Central Pattana Public |
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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 Analyzer module to portfolio analysis module that provides access to portfolio diagnostics and optimization engine.
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