Correlation Between CP ALL and Kasikornbank Public
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By analyzing existing cross correlation between CP ALL Public and Kasikornbank Public, you can compare the effects of market volatilities on CP ALL and Kasikornbank 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 CP ALL with a short position of Kasikornbank Public. Check out your portfolio center. Please also check ongoing floating volatility patterns of CP ALL and Kasikornbank Public.
Diversification Opportunities for CP ALL and Kasikornbank Public
0.75 | Correlation Coefficient |
Poor diversification
The 3 months correlation between CPALL-R and Kasikornbank is 0.75. Overlapping area represents the amount of risk that can be diversified away by holding CP ALL Public and Kasikornbank Public in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Kasikornbank Public and CP ALL 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 CP ALL Public are associated (or correlated) with Kasikornbank Public. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Kasikornbank Public has no effect on the direction of CP ALL i.e., CP ALL and Kasikornbank Public go up and down completely randomly.
Pair Corralation between CP ALL and Kasikornbank Public
Assuming the 90 days trading horizon CP ALL is expected to generate 1.83 times less return on investment than Kasikornbank Public. In addition to that, CP ALL is 1.09 times more volatile than Kasikornbank Public. It trades about 0.01 of its total potential returns per unit of risk. Kasikornbank Public is currently generating about 0.01 per unit of volatility. If you would invest 14,250 in Kasikornbank Public on August 28, 2024 and sell it today you would earn a total of 750.00 from holding Kasikornbank Public or generate 5.26% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Significant |
| Accuracy | 100.0% |
| Values | Daily Returns |
CP ALL Public vs. Kasikornbank Public
Performance |
| Timeline |
| CP ALL Public |
| Kasikornbank Public |
CP ALL and Kasikornbank Public Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with CP ALL and Kasikornbank Public
The main advantage of trading using opposite CP ALL and Kasikornbank Public positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if CP ALL position performs unexpectedly, Kasikornbank 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 Kasikornbank Public will offset losses from the drop in Kasikornbank Public's long position.| CP ALL vs. Airports of Thailand | CP ALL vs. CP ALL Public | CP ALL vs. Charoen Pokphand Foods | CP ALL vs. Bangkok Dusit Medical |
| Kasikornbank Public vs. PTT Public | Kasikornbank Public vs. CP ALL Public | Kasikornbank Public vs. SCB X Public | Kasikornbank Public vs. Airports of Thailand |
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 Content Syndication module to quickly integrate customizable finance content to your own investment portal.
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