Correlation Between Delta Electronics and Intouch Holdings
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By analyzing existing cross correlation between Delta Electronics Public and Intouch Holdings Public, you can compare the effects of market volatilities on Delta Electronics and Intouch Holdings 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 Delta Electronics with a short position of Intouch Holdings. Check out your portfolio center. Please also check ongoing floating volatility patterns of Delta Electronics and Intouch Holdings.
Diversification Opportunities for Delta Electronics and Intouch Holdings
0.63 | Correlation Coefficient |
Poor diversification
The 3 months correlation between Delta and Intouch is 0.63. Overlapping area represents the amount of risk that can be diversified away by holding Delta Electronics Public and Intouch Holdings Public in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Intouch Holdings Public and Delta Electronics 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 Delta Electronics Public are associated (or correlated) with Intouch Holdings. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Intouch Holdings Public has no effect on the direction of Delta Electronics i.e., Delta Electronics and Intouch Holdings go up and down completely randomly.
Pair Corralation between Delta Electronics and Intouch Holdings
Assuming the 90 days trading horizon Delta Electronics Public is expected to generate 1.58 times more return on investment than Intouch Holdings. However, Delta Electronics is 1.58 times more volatile than Intouch Holdings Public. It trades about 0.21 of its potential returns per unit of risk. Intouch Holdings Public is currently generating about 0.09 per unit of risk. If you would invest 10,950 in Delta Electronics Public on August 28, 2024 and sell it today you would earn a total of 3,600 from holding Delta Electronics Public or generate 32.88% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Significant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Delta Electronics Public vs. Intouch Holdings Public
Performance |
| Timeline |
| Delta Electronics Public |
| Intouch Holdings Public |
Delta Electronics and Intouch Holdings Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Delta Electronics and Intouch Holdings
The main advantage of trading using opposite Delta Electronics and Intouch Holdings positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Delta Electronics position performs unexpectedly, Intouch Holdings 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 Intouch Holdings will offset losses from the drop in Intouch Holdings' long position.| Delta Electronics vs. Airports of Thailand | Delta Electronics vs. Hana Microelectronics Public | Delta Electronics vs. Advanced Info Service | Delta Electronics vs. Kasikornbank Public |
| Intouch Holdings vs. Advanced Info Service | Intouch Holdings vs. True Public | Intouch Holdings vs. CP ALL Public | Intouch Holdings vs. The Siam Cement |
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 Funds Screener module to find actively-traded funds from around the world traded on over 30 global exchanges.
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