Correlation Between Ekachai Medical and Intouch Holdings
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By analyzing existing cross correlation between Ekachai Medical Care and Intouch Holdings Public, you can compare the effects of market volatilities on Ekachai Medical 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 Ekachai Medical with a short position of Intouch Holdings. Check out your portfolio center. Please also check ongoing floating volatility patterns of Ekachai Medical and Intouch Holdings.
Diversification Opportunities for Ekachai Medical and Intouch Holdings
-0.46 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Ekachai and Intouch is -0.46. Overlapping area represents the amount of risk that can be diversified away by holding Ekachai Medical Care 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 Ekachai Medical 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 Ekachai Medical Care 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 Ekachai Medical i.e., Ekachai Medical and Intouch Holdings go up and down completely randomly.
Pair Corralation between Ekachai Medical and Intouch Holdings
Assuming the 90 days trading horizon Ekachai Medical Care is expected to under-perform the Intouch Holdings. But the stock apears to be less risky and, when comparing its historical volatility, Ekachai Medical Care is 2.22 times less risky than Intouch Holdings. The stock trades about -0.11 of its potential returns per unit of risk. The Intouch Holdings Public is currently generating about 0.01 of returns per unit of risk over similar time horizon. If you would invest 10,000 in Intouch Holdings Public on September 14, 2024 and sell it today you would earn a total of 0.00 from holding Intouch Holdings Public or generate 0.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Ekachai Medical Care vs. Intouch Holdings Public
Performance |
| Timeline |
| Ekachai Medical Care |
| Intouch Holdings Public |
Ekachai Medical and Intouch Holdings Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Ekachai Medical and Intouch Holdings
The main advantage of trading using opposite Ekachai Medical and Intouch Holdings positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Ekachai Medical 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.| Ekachai Medical vs. Chularat Hospital Public | Ekachai Medical vs. Bangkok Chain Hospital | Ekachai Medical vs. Bangkok Dusit Medical | Ekachai Medical vs. Rajthanee Hospital Public |
| Intouch Holdings vs. Hana Microelectronics Public | Intouch Holdings vs. Ekachai Medical Care | Intouch Holdings vs. Megachem Public | Intouch Holdings vs. Diamond Building Products |
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 Diagnostics module to use generated alerts and portfolio events aggregator to diagnose current holdings.
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