Correlation Between Intouch Holdings and Ichitan Group
Specify exactly 2 symbols:
By analyzing existing cross correlation between Intouch Holdings Public and Ichitan Group Public, you can compare the effects of market volatilities on Intouch Holdings and Ichitan Group 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 Ichitan Group. Check out your portfolio center. Please also check ongoing floating volatility patterns of Intouch Holdings and Ichitan Group.
Diversification Opportunities for Intouch Holdings and Ichitan Group
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Intouch and Ichitan is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Intouch Holdings Public and Ichitan Group Public in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Ichitan Group Public 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 Ichitan Group. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Ichitan Group Public has no effect on the direction of Intouch Holdings i.e., Intouch Holdings and Ichitan Group go up and down completely randomly.
Pair Corralation between Intouch Holdings and Ichitan Group
Assuming the 90 days trading horizon Intouch Holdings Public is expected to generate 0.74 times more return on investment than Ichitan Group. However, Intouch Holdings Public is 1.36 times less risky than Ichitan Group. It trades about 0.13 of its potential returns per unit of risk. Ichitan Group Public is currently generating about -0.21 per unit of risk. If you would invest 9,375 in Intouch Holdings Public on November 3, 2024 and sell it today you would earn a total of 350.00 from holding Intouch Holdings Public or generate 3.73% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Intouch Holdings Public vs. Ichitan Group Public
Performance |
| Timeline |
| Intouch Holdings Public |
| Ichitan Group Public |
Intouch Holdings and Ichitan Group Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Intouch Holdings and Ichitan Group
The main advantage of trading using opposite Intouch Holdings and Ichitan Group positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Intouch Holdings position performs unexpectedly, Ichitan Group 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 Ichitan Group will offset losses from the drop in Ichitan Group'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 |
| Ichitan Group vs. Multi National Residence | Ichitan Group vs. Quality Houses Property | Ichitan Group vs. The Erawan Group | Ichitan Group vs. Autocorp Holding 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 Global Markets Map module to get a quick overview of global market snapshot using zoomable world map. Drill down to check world indexes.
Other Complementary Tools
| Competition Analyzer Analyze and compare many basic indicators for a group of related or unrelated entities | |
| Sectors List of equity sectors categorizing publicly traded companies based on their primary business activities | |
| Stock Screener Find equities using a custom stock filter or screen asymmetry in trading patterns, price, volume, or investment outlook. | |
| Bollinger Bands Use Bollinger Bands indicator to analyze target price for a given investing horizon | |
| Portfolio File Import Quickly import all of your third-party portfolios from your local drive in csv format |