Correlation Between Humanica Public and Siam Global
Can any of the company-specific risk be diversified away by investing in both Humanica Public and Siam Global 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 Humanica Public and Siam Global into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Humanica Public and Siam Global House, you can compare the effects of market volatilities on Humanica Public and Siam Global 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 Humanica Public with a short position of Siam Global. Check out your portfolio center. Please also check ongoing floating volatility patterns of Humanica Public and Siam Global.
Diversification Opportunities for Humanica Public and Siam Global
-0.12 | Correlation Coefficient |
Good diversification
The 3 months correlation between Humanica and Siam is -0.12. Overlapping area represents the amount of risk that can be diversified away by holding Humanica Public and Siam Global House in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Siam Global House and Humanica Public 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 Humanica Public are associated (or correlated) with Siam Global. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Siam Global House has no effect on the direction of Humanica Public i.e., Humanica Public and Siam Global go up and down completely randomly.
Pair Corralation between Humanica Public and Siam Global
Assuming the 90 days trading horizon Humanica Public is expected to under-perform the Siam Global. In addition to that, Humanica Public is 1.29 times more volatile than Siam Global House. It trades about -0.37 of its total potential returns per unit of risk. Siam Global House is currently generating about 0.05 per unit of volatility. If you would invest 1,560 in Siam Global House on August 28, 2024 and sell it today you would earn a total of 20.00 from holding Siam Global House or generate 1.28% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Humanica Public vs. Siam Global House
Performance |
| Timeline |
| Humanica Public |
| Siam Global House |
Humanica Public and Siam Global Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Humanica Public and Siam Global
The main advantage of trading using opposite Humanica Public and Siam Global positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Humanica Public position performs unexpectedly, Siam Global 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 Siam Global will offset losses from the drop in Siam Global's long position.| Humanica Public vs. AP Public | Humanica Public vs. Jasmine International Public | Humanica Public vs. Asia Plus Group | Humanica Public vs. Bangkok Aviation Fuel |
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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 Premium Stories module to follow Macroaxis premium stories from verified contributors across different equity types, categories and coverage scope.
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