Correlation Between Intouch Holdings and Neo Corporate
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By analyzing existing cross correlation between Intouch Holdings Public and Neo Corporate Pcl, you can compare the effects of market volatilities on Intouch Holdings and Neo Corporate 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 Neo Corporate. Check out your portfolio center. Please also check ongoing floating volatility patterns of Intouch Holdings and Neo Corporate.
Diversification Opportunities for Intouch Holdings and Neo Corporate
-0.42 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Intouch and Neo is -0.42. Overlapping area represents the amount of risk that can be diversified away by holding Intouch Holdings Public and Neo Corporate Pcl in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Neo Corporate Pcl 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 Neo Corporate. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Neo Corporate Pcl has no effect on the direction of Intouch Holdings i.e., Intouch Holdings and Neo Corporate go up and down completely randomly.
Pair Corralation between Intouch Holdings and Neo Corporate
Assuming the 90 days trading horizon Intouch Holdings is expected to generate 166.8 times less return on investment than Neo Corporate. But when comparing it to its historical volatility, Intouch Holdings Public is 96.39 times less risky than Neo Corporate. It trades about 0.07 of its potential returns per unit of risk. Neo Corporate Pcl is currently generating about 0.12 of returns per unit of risk over similar time horizon. If you would invest 3,900 in Neo Corporate Pcl on September 13, 2024 and sell it today you would lose (750.00) from holding Neo Corporate Pcl or give up 19.23% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 34.58% |
| Values | Daily Returns |
Intouch Holdings Public vs. Neo Corporate Pcl
Performance |
| Timeline |
| Intouch Holdings Public |
| Neo Corporate Pcl |
Intouch Holdings and Neo Corporate Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Intouch Holdings and Neo Corporate
The main advantage of trading using opposite Intouch Holdings and Neo Corporate positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Intouch Holdings position performs unexpectedly, Neo Corporate 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 Neo Corporate will offset losses from the drop in Neo Corporate'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 |
| Neo Corporate vs. Thai Coating Industrial | Neo Corporate vs. Fine Metal Technologies | Neo Corporate vs. K W Metal | Neo Corporate vs. Rojana Industrial Park |
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 Portfolio Analyzer module to portfolio analysis module that provides access to portfolio diagnostics and optimization engine.
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