Correlation Between Intouch Holdings and Advanced Info
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By analyzing existing cross correlation between Intouch Holdings Public and Advanced Info Service, you can compare the effects of market volatilities on Intouch Holdings and Advanced Info 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 Intouch Holdings with a short position of Advanced Info. Check out your portfolio center. Please also check ongoing floating volatility patterns of Intouch Holdings and Advanced Info.
Diversification Opportunities for Intouch Holdings and Advanced Info
0.09 | Correlation Coefficient |
Significant diversification
The 3 months correlation between Intouch and Advanced is 0.09. Overlapping area represents the amount of risk that can be diversified away by holding Intouch Holdings Public and Advanced Info Service in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Advanced Info Service and Intouch Holdings 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 Intouch Holdings Public are associated (or correlated) with Advanced Info. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Advanced Info Service has no effect on the direction of Intouch Holdings i.e., Intouch Holdings and Advanced Info go up and down completely randomly.
Pair Corralation between Intouch Holdings and Advanced Info
Assuming the 90 days trading horizon Intouch Holdings Public is expected to under-perform the Advanced Info. But the stock apears to be less risky and, when comparing its historical volatility, Intouch Holdings Public is 128.98 times less risky than Advanced Info. The stock trades about -0.11 of its potential returns per unit of risk. The Advanced Info Service is currently generating about 0.19 of returns per unit of risk over similar time horizon. If you would invest 22,216 in Advanced Info Service on August 28, 2024 and sell it today you would earn a total of 6,684 from holding Advanced Info Service or generate 30.09% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 95.45% |
| Values | Daily Returns |
Intouch Holdings Public vs. Advanced Info Service
Performance |
| Timeline |
| Intouch Holdings Public |
| Advanced Info Service |
Intouch Holdings and Advanced Info Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Intouch Holdings and Advanced Info
The main advantage of trading using opposite Intouch Holdings and Advanced Info positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Intouch Holdings position performs unexpectedly, Advanced Info 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 Advanced Info will offset losses from the drop in Advanced Info's long position.| Intouch Holdings vs. Advanced Info Service | Intouch Holdings vs. True Public | Intouch Holdings vs. CP ALL Public | Intouch Holdings vs. The Siam Cement |
| Advanced Info vs. Hana Microelectronics Public | Advanced Info vs. Ekachai Medical Care | Advanced Info vs. Megachem Public | Advanced Info 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 Funds Screener module to find actively-traded funds from around the world traded on over 30 global exchanges.
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