Correlation Between Siam Global and Winner Group
Can any of the company-specific risk be diversified away by investing in both Siam Global and Winner Group 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 Siam Global and Winner Group into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Siam Global House and Winner Group Enterprise, you can compare the effects of market volatilities on Siam Global and Winner Group 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 Siam Global with a short position of Winner Group. Check out your portfolio center. Please also check ongoing floating volatility patterns of Siam Global and Winner Group.
Diversification Opportunities for Siam Global and Winner Group
0.25 | Correlation Coefficient |
Modest diversification
The 3 months correlation between Siam and Winner is 0.25. Overlapping area represents the amount of risk that can be diversified away by holding Siam Global House and Winner Group Enterprise in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Winner Group Enterprise and Siam Global 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 Siam Global House are associated (or correlated) with Winner Group. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Winner Group Enterprise has no effect on the direction of Siam Global i.e., Siam Global and Winner Group go up and down completely randomly.
Pair Corralation between Siam Global and Winner Group
Assuming the 90 days trading horizon Siam Global House is expected to under-perform the Winner Group. But the stock apears to be less risky and, when comparing its historical volatility, Siam Global House is 24.9 times less risky than Winner Group. The stock trades about -0.01 of its potential returns per unit of risk. The Winner Group Enterprise is currently generating about 0.04 of returns per unit of risk over similar time horizon. If you would invest 210.00 in Winner Group Enterprise on August 26, 2024 and sell it today you would lose (4.00) from holding Winner Group Enterprise or give up 1.9% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Siam Global House vs. Winner Group Enterprise
Performance |
| Timeline |
| Siam Global House |
| Winner Group Enterprise |
Siam Global and Winner Group Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Siam Global and Winner Group
The main advantage of trading using opposite Siam Global and Winner Group positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Siam Global position performs unexpectedly, Winner Group 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 Winner Group will offset losses from the drop in Winner Group's long position.| Siam Global vs. SCB X Public | Siam Global vs. Kasikornbank Public | Siam Global vs. PTT Public | Siam Global vs. Kasikornbank Public |
| Winner Group vs. Chamni Eye PCL | Winner Group vs. Siam Global House | Winner Group vs. The Erawan Group | Winner Group vs. Ditto 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 Sign In To Macroaxis module to sign in to explore Macroaxis' wealth optimization platform and fintech modules.
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