Correlation Between Intouch Holdings and Bangkok Expressway
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By analyzing existing cross correlation between Intouch Holdings Public and Bangkok Expressway and, you can compare the effects of market volatilities on Intouch Holdings and Bangkok Expressway 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 Bangkok Expressway. Check out your portfolio center. Please also check ongoing floating volatility patterns of Intouch Holdings and Bangkok Expressway.
Diversification Opportunities for Intouch Holdings and Bangkok Expressway
0.22 | Correlation Coefficient |
Modest diversification
The 3 months correlation between Intouch and Bangkok is 0.22. Overlapping area represents the amount of risk that can be diversified away by holding Intouch Holdings Public and Bangkok Expressway and in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Bangkok Expressway and 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 Bangkok Expressway. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Bangkok Expressway and has no effect on the direction of Intouch Holdings i.e., Intouch Holdings and Bangkok Expressway go up and down completely randomly.
Pair Corralation between Intouch Holdings and Bangkok Expressway
Assuming the 90 days trading horizon Intouch Holdings Public is expected to under-perform the Bangkok Expressway. In addition to that, Intouch Holdings is 1.78 times more volatile than Bangkok Expressway and. It trades about -0.18 of its total potential returns per unit of risk. Bangkok Expressway and is currently generating about -0.18 per unit of volatility. If you would invest 680.00 in Bangkok Expressway and on November 28, 2024 and sell it today you would lose (40.00) from holding Bangkok Expressway and or give up 5.88% 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. Bangkok Expressway and
Performance |
| Timeline |
| Intouch Holdings Public |
| Bangkok Expressway and |
Intouch Holdings and Bangkok Expressway Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Intouch Holdings and Bangkok Expressway
The main advantage of trading using opposite Intouch Holdings and Bangkok Expressway positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Intouch Holdings position performs unexpectedly, Bangkok Expressway 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 Bangkok Expressway will offset losses from the drop in Bangkok Expressway's long position.| Intouch Holdings vs. True Public | Intouch Holdings vs. CP ALL Public | Intouch Holdings vs. The Siam Cement | Intouch Holdings vs. Charoen Pokphand Foods |
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 Money Managers module to screen money managers from public funds and ETFs managed around the world.
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