Correlation Between Intouch Holdings and Thachang Green
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By analyzing existing cross correlation between Intouch Holdings Public and Thachang Green Energy, you can compare the effects of market volatilities on Intouch Holdings and Thachang Green 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 Thachang Green. Check out your portfolio center. Please also check ongoing floating volatility patterns of Intouch Holdings and Thachang Green.
Diversification Opportunities for Intouch Holdings and Thachang Green
0.14 | Correlation Coefficient |
Average diversification
The 3 months correlation between Intouch and Thachang is 0.14. Overlapping area represents the amount of risk that can be diversified away by holding Intouch Holdings Public and Thachang Green Energy in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Thachang Green Energy 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 Thachang Green. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Thachang Green Energy has no effect on the direction of Intouch Holdings i.e., Intouch Holdings and Thachang Green go up and down completely randomly.
Pair Corralation between Intouch Holdings and Thachang Green
Assuming the 90 days trading horizon Intouch Holdings Public is expected to under-perform the Thachang Green. In addition to that, Intouch Holdings is 1.05 times more volatile than Thachang Green Energy. It trades about -0.21 of its total potential returns per unit of risk. Thachang Green Energy is currently generating about -0.11 per unit of volatility. If you would invest 230.00 in Thachang Green Energy on October 7, 2024 and sell it today you would lose (8.00) from holding Thachang Green Energy or give up 3.48% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Intouch Holdings Public vs. Thachang Green Energy
Performance |
| Timeline |
| Intouch Holdings Public |
| Thachang Green Energy |
Intouch Holdings and Thachang Green Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Intouch Holdings and Thachang Green
The main advantage of trading using opposite Intouch Holdings and Thachang Green positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Intouch Holdings position performs unexpectedly, Thachang Green 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 Thachang Green will offset losses from the drop in Thachang Green'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 |
| Thachang Green vs. TKS Technologies Public | Thachang Green vs. Susco Public | Thachang Green vs. Gulf Energy Development | Thachang Green vs. The Erawan Group |
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 Technical Analysis module to check basic technical indicators and analysis based on most latest market data.
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