Correlation Between Intouch Holdings and Global Power
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By analyzing existing cross correlation between Intouch Holdings Public and Global Power Synergy, you can compare the effects of market volatilities on Intouch Holdings and Global Power 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 Global Power. Check out your portfolio center. Please also check ongoing floating volatility patterns of Intouch Holdings and Global Power.
Diversification Opportunities for Intouch Holdings and Global Power
0.06 | Correlation Coefficient |
Significant diversification
The 3 months correlation between Intouch and Global is 0.06. Overlapping area represents the amount of risk that can be diversified away by holding Intouch Holdings Public and Global Power Synergy in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Global Power Synergy 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 Global Power. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Global Power Synergy has no effect on the direction of Intouch Holdings i.e., Intouch Holdings and Global Power go up and down completely randomly.
Pair Corralation between Intouch Holdings and Global Power
Assuming the 90 days trading horizon Intouch Holdings Public is expected to generate 1.1 times more return on investment than Global Power. However, Intouch Holdings is 1.1 times more volatile than Global Power Synergy. It trades about 0.11 of its potential returns per unit of risk. Global Power Synergy is currently generating about 0.07 per unit of risk. If you would invest 8,250 in Intouch Holdings Public on September 2, 2024 and sell it today you would earn a total of 1,250 from holding Intouch Holdings Public or generate 15.15% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Intouch Holdings Public vs. Global Power Synergy
Performance |
| Timeline |
| Intouch Holdings Public |
| Global Power Synergy |
Intouch Holdings and Global Power Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Intouch Holdings and Global Power
The main advantage of trading using opposite Intouch Holdings and Global Power positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Intouch Holdings position performs unexpectedly, Global Power 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 Global Power will offset losses from the drop in Global Power'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 |
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 Sectors module to list of equity sectors categorizing publicly traded companies based on their primary business activities.
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