Correlation Between Intouch Holdings and Better World
Specify exactly 2 symbols:
By analyzing existing cross correlation between Intouch Holdings Public and Better World Green, you can compare the effects of market volatilities on Intouch Holdings and Better World 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 Better World. Check out your portfolio center. Please also check ongoing floating volatility patterns of Intouch Holdings and Better World.
Diversification Opportunities for Intouch Holdings and Better World
-0.48 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Intouch and Better is -0.48. Overlapping area represents the amount of risk that can be diversified away by holding Intouch Holdings Public and Better World Green in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Better World Green 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 Better World. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Better World Green has no effect on the direction of Intouch Holdings i.e., Intouch Holdings and Better World go up and down completely randomly.
Pair Corralation between Intouch Holdings and Better World
Assuming the 90 days trading horizon Intouch Holdings Public is expected to generate 0.98 times more return on investment than Better World. However, Intouch Holdings Public is 1.02 times less risky than Better World. It trades about 0.05 of its potential returns per unit of risk. Better World Green is currently generating about -0.18 per unit of risk. If you would invest 9,850 in Intouch Holdings Public on September 18, 2024 and sell it today you would earn a total of 150.00 from holding Intouch Holdings Public or generate 1.52% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Intouch Holdings Public vs. Better World Green
Performance |
| Timeline |
| Intouch Holdings Public |
| Better World Green |
Intouch Holdings and Better World Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Intouch Holdings and Better World
The main advantage of trading using opposite Intouch Holdings and Better World positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Intouch Holdings position performs unexpectedly, Better World 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 Better World will offset losses from the drop in Better World'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 |
| Better World vs. Tata Steel Public | Better World vs. Thaifoods Group Public | Better World vs. TMT Steel 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 Premium Stories module to follow Macroaxis premium stories from verified contributors across different equity types, categories and coverage scope.
Other Complementary Tools
| Price Transformation Use Price Transformation models to analyze the depth of different equity instruments across global markets | |
| Risk-Return Analysis View associations between returns expected from investment and the risk you assume | |
| Stocks Directory Find actively traded stocks across global markets | |
| Technical Analysis Check basic technical indicators and analysis based on most latest market data | |
| Money Flow Index Determine momentum by analyzing Money Flow Index and other technical indicators |