Correlation Between Intouch Holdings and Itthirit Nice
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By analyzing existing cross correlation between Intouch Holdings Public and Itthirit Nice Corp, you can compare the effects of market volatilities on Intouch Holdings and Itthirit Nice 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 Itthirit Nice. Check out your portfolio center. Please also check ongoing floating volatility patterns of Intouch Holdings and Itthirit Nice.
Diversification Opportunities for Intouch Holdings and Itthirit Nice
-0.35 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Intouch and Itthirit is -0.35. Overlapping area represents the amount of risk that can be diversified away by holding Intouch Holdings Public and Itthirit Nice Corp in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Itthirit Nice Corp 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 Itthirit Nice. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Itthirit Nice Corp has no effect on the direction of Intouch Holdings i.e., Intouch Holdings and Itthirit Nice go up and down completely randomly.
Pair Corralation between Intouch Holdings and Itthirit Nice
Assuming the 90 days trading horizon Intouch Holdings is expected to generate 24.28 times less return on investment than Itthirit Nice. But when comparing it to its historical volatility, Intouch Holdings Public is 40.68 times less risky than Itthirit Nice. It trades about 0.1 of its potential returns per unit of risk. Itthirit Nice Corp is currently generating about 0.06 of returns per unit of risk over similar time horizon. If you would invest 152.00 in Itthirit Nice Corp on September 20, 2024 and sell it today you would earn a total of 17.00 from holding Itthirit Nice Corp or generate 11.18% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Intouch Holdings Public vs. Itthirit Nice Corp
Performance |
| Timeline |
| Intouch Holdings Public |
| Itthirit Nice Corp |
Intouch Holdings and Itthirit Nice Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Intouch Holdings and Itthirit Nice
The main advantage of trading using opposite Intouch Holdings and Itthirit Nice positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Intouch Holdings position performs unexpectedly, Itthirit Nice 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 Itthirit Nice will offset losses from the drop in Itthirit Nice's long position.| Intouch Holdings vs. Hana Microelectronics Public | Intouch Holdings vs. Ekachai Medical Care | Intouch Holdings vs. Megachem Public | Intouch Holdings vs. Diamond Building Products |
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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 Idea Optimizer module to use advanced portfolio builder with pre-computed micro ideas to build optimal portfolio .
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