Correlation Between Forth Smart and AEON Thana
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By analyzing existing cross correlation between Forth Smart Service and AEON Thana Sinsap, you can compare the effects of market volatilities on Forth Smart and AEON Thana 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 Forth Smart with a short position of AEON Thana. Check out your portfolio center. Please also check ongoing floating volatility patterns of Forth Smart and AEON Thana.
Diversification Opportunities for Forth Smart and AEON Thana
0.04 | Correlation Coefficient |
Significant diversification
The 3 months correlation between Forth and AEON is 0.04. Overlapping area represents the amount of risk that can be diversified away by holding Forth Smart Service and AEON Thana Sinsap in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on AEON Thana Sinsap and Forth Smart 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 Forth Smart Service are associated (or correlated) with AEON Thana. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of AEON Thana Sinsap has no effect on the direction of Forth Smart i.e., Forth Smart and AEON Thana go up and down completely randomly.
Pair Corralation between Forth Smart and AEON Thana
If you would invest 660.00 in Forth Smart Service on September 12, 2024 and sell it today you would earn a total of 160.00 from holding Forth Smart Service or generate 24.24% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 86.36% |
| Values | Daily Returns |
Forth Smart Service vs. AEON Thana Sinsap
Performance |
| Timeline |
| Forth Smart Service |
| AEON Thana Sinsap |
Forth Smart and AEON Thana Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Forth Smart and AEON Thana
The main advantage of trading using opposite Forth Smart and AEON Thana positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Forth Smart position performs unexpectedly, AEON Thana 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 AEON Thana will offset losses from the drop in AEON Thana's long position.| Forth Smart vs. Forth Public | Forth Smart vs. Hana Microelectronics Public | Forth Smart vs. AP Public | Forth Smart vs. Home Product Center |
| AEON Thana vs. Srisawad Power 1979 | AEON Thana vs. Muangthai Capital Public | AEON Thana vs. Micro Leasing Public | AEON Thana vs. Krungthai Card PCL |
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 Price Transformation module to use Price Transformation models to analyze the depth of different equity instruments across global markets.
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