Correlation Between BCAP SET100 and ABF Thailand
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By analyzing existing cross correlation between BCAP SET100 and The ABF Thailand, you can compare the effects of market volatilities on BCAP SET100 and ABF Thailand 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 BCAP SET100 with a short position of ABF Thailand. Check out your portfolio center. Please also check ongoing floating volatility patterns of BCAP SET100 and ABF Thailand.
Diversification Opportunities for BCAP SET100 and ABF Thailand
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between BCAP and ABF is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding BCAP SET100 and The ABF Thailand in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on ABF Thailand and BCAP SET100 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 BCAP SET100 are associated (or correlated) with ABF Thailand. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of ABF Thailand has no effect on the direction of BCAP SET100 i.e., BCAP SET100 and ABF Thailand go up and down completely randomly.
Pair Corralation between BCAP SET100 and ABF Thailand
Assuming the 90 days trading horizon BCAP SET100 is expected to generate 0.47 times more return on investment than ABF Thailand. However, BCAP SET100 is 2.12 times less risky than ABF Thailand. It trades about 0.05 of its potential returns per unit of risk. The ABF Thailand is currently generating about 0.01 per unit of risk. If you would invest 958.00 in BCAP SET100 on September 12, 2024 and sell it today you would earn a total of 20.00 from holding BCAP SET100 or generate 2.09% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
BCAP SET100 vs. The ABF Thailand
Performance |
| Timeline |
| BCAP SET100 |
| ABF Thailand |
BCAP SET100 and ABF Thailand Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with BCAP SET100 and ABF Thailand
The main advantage of trading using opposite BCAP SET100 and ABF Thailand positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if BCAP SET100 position performs unexpectedly, ABF Thailand 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 ABF Thailand will offset losses from the drop in ABF Thailand's long position.The idea behind BCAP SET100 and The ABF Thailand pairs trading is to make the combined position market-neutral, meaning the overall market's direction will not affect its win or loss (or potential downside or upside). This can be achieved by designing a pairs trade with two highly correlated stocks or equities that operate in a similar space or sector, making it possible to obtain profits through simple and relatively low-risk investment.| ABF Thailand vs. United Hero ETF | ABF Thailand vs. BCAP SET100 | ABF Thailand vs. WISE KTAM CSI | ABF Thailand vs. KTAM Gold ETF |
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 ETF Categories module to list of ETF categories grouped based on various criteria, such as the investment strategy or type of investments.
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