Correlation Between Com7 PCL and Moshi Moshi
Can any of the company-specific risk be diversified away by investing in both Com7 PCL and Moshi Moshi 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 Com7 PCL and Moshi Moshi into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Com7 PCL and Moshi Moshi Retail, you can compare the effects of market volatilities on Com7 PCL and Moshi Moshi 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 Com7 PCL with a short position of Moshi Moshi. Check out your portfolio center. Please also check ongoing floating volatility patterns of Com7 PCL and Moshi Moshi.
Diversification Opportunities for Com7 PCL and Moshi Moshi
0.34 | Correlation Coefficient |
Weak diversification
The 3 months correlation between Com7 and Moshi is 0.34. Overlapping area represents the amount of risk that can be diversified away by holding Com7 PCL and Moshi Moshi Retail in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Moshi Moshi Retail and Com7 PCL 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 Com7 PCL are associated (or correlated) with Moshi Moshi. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Moshi Moshi Retail has no effect on the direction of Com7 PCL i.e., Com7 PCL and Moshi Moshi go up and down completely randomly.
Pair Corralation between Com7 PCL and Moshi Moshi
Assuming the 90 days trading horizon Com7 PCL is expected to generate 116.59 times less return on investment than Moshi Moshi. But when comparing it to its historical volatility, Com7 PCL is 53.42 times less risky than Moshi Moshi. It trades about 0.06 of its potential returns per unit of risk. Moshi Moshi Retail is currently generating about 0.13 of returns per unit of risk over similar time horizon. If you would invest 0.00 in Moshi Moshi Retail on September 3, 2024 and sell it today you would earn a total of 4,675 from holding Moshi Moshi Retail or generate 9.223372036854776E16% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Com7 PCL vs. Moshi Moshi Retail
Performance |
| Timeline |
| Com7 PCL |
| Moshi Moshi Retail |
Com7 PCL and Moshi Moshi Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Com7 PCL and Moshi Moshi
The main advantage of trading using opposite Com7 PCL and Moshi Moshi positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Com7 PCL position performs unexpectedly, Moshi Moshi 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 Moshi Moshi will offset losses from the drop in Moshi Moshi's long position.| Com7 PCL vs. Central Pattana Public | Com7 PCL vs. CP ALL Public | Com7 PCL vs. Bangkok Dusit Medical | Com7 PCL vs. Airports of Thailand |
| Moshi Moshi vs. Central Retail | Moshi Moshi vs. The Erawan Group | Moshi Moshi vs. Autocorp Holding Public | Moshi Moshi vs. XSpring Capital 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 Global Markets Map module to get a quick overview of global market snapshot using zoomable world map. Drill down to check world indexes.
Other Complementary Tools
| Money Managers Screen money managers from public funds and ETFs managed around the world | |
| Pair Correlation Compare performance and examine fundamental relationship between any two equity instruments | |
| Performance Analysis Check effects of mean-variance optimization against your current asset allocation | |
| Watchlist Optimization Optimize watchlists to build efficient portfolios or rebalance existing positions based on the mean-variance optimization algorithm | |
| Portfolio Comparator Compare the composition, asset allocations and performance of any two portfolios in your account |