Correlation Between Intouch Holdings and Airports
Specify exactly 2 symbols:
By analyzing existing cross correlation between Intouch Holdings Public and Airports of Thailand, you can compare the effects of market volatilities on Intouch Holdings and Airports 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 Airports. Check out your portfolio center. Please also check ongoing floating volatility patterns of Intouch Holdings and Airports.
Diversification Opportunities for Intouch Holdings and Airports
0.21 | Correlation Coefficient |
Modest diversification
The 3 months correlation between Intouch and Airports is 0.21. Overlapping area represents the amount of risk that can be diversified away by holding Intouch Holdings Public and Airports of Thailand in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Airports of Thailand 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 Airports. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Airports of Thailand has no effect on the direction of Intouch Holdings i.e., Intouch Holdings and Airports go up and down completely randomly.
Pair Corralation between Intouch Holdings and Airports
Assuming the 90 days trading horizon Intouch Holdings Public is expected to under-perform the Airports. In addition to that, Intouch Holdings is 1.43 times more volatile than Airports of Thailand. It trades about -0.11 of its total potential returns per unit of risk. Airports of Thailand is currently generating about -0.01 per unit of volatility. If you would invest 6,175 in Airports of Thailand on August 28, 2024 and sell it today you would lose (25.00) from holding Airports of Thailand or give up 0.4% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Intouch Holdings Public vs. Airports of Thailand
Performance |
| Timeline |
| Intouch Holdings Public |
| Airports of Thailand |
Intouch Holdings and Airports Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Intouch Holdings and Airports
The main advantage of trading using opposite Intouch Holdings and Airports positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Intouch Holdings position performs unexpectedly, Airports 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 Airports will offset losses from the drop in Airports' 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 |
| Airports vs. Tata Steel Public | Airports vs. Thaifoods Group Public | Airports vs. TMT Steel Public | Airports vs. The Erawan Group |
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 Rebalancing module to analyze risk-adjusted returns against different time horizons to find asset-allocation targets.
Other Complementary Tools
| Theme Ratings Determine theme ratings based on digital equity recommendations. Macroaxis theme ratings are based on combination of fundamental analysis and risk-adjusted market performance | |
| Bonds Directory Find actively traded corporate debentures issued by US companies | |
| Stock Screener Find equities using a custom stock filter or screen asymmetry in trading patterns, price, volume, or investment outlook. | |
| Options Analysis Analyze and evaluate options and option chains as a potential hedge for your portfolios | |
| Risk-Return Analysis View associations between returns expected from investment and the risk you assume |