Correlation Between Intouch Holdings and VGI Public
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By analyzing existing cross correlation between Intouch Holdings Public and VGI Public, you can compare the effects of market volatilities on Intouch Holdings and VGI Public 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 VGI Public. Check out your portfolio center. Please also check ongoing floating volatility patterns of Intouch Holdings and VGI Public.
Diversification Opportunities for Intouch Holdings and VGI Public
-0.02 | Correlation Coefficient |
Good diversification
The 3 months correlation between Intouch and VGI is -0.02. Overlapping area represents the amount of risk that can be diversified away by holding Intouch Holdings Public and VGI Public in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on VGI 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 VGI Public. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of VGI Public has no effect on the direction of Intouch Holdings i.e., Intouch Holdings and VGI Public go up and down completely randomly.
Pair Corralation between Intouch Holdings and VGI Public
Assuming the 90 days trading horizon Intouch Holdings Public is expected to under-perform the VGI Public. But the stock apears to be less risky and, when comparing its historical volatility, Intouch Holdings Public is 72.74 times less risky than VGI Public. The stock trades about -0.04 of its potential returns per unit of risk. The VGI Public is currently generating about 0.11 of returns per unit of risk over similar time horizon. If you would invest 286.00 in VGI Public on November 2, 2024 and sell it today you would earn a total of 18.00 from holding VGI Public or generate 6.29% 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. VGI Public
Performance |
| Timeline |
| Intouch Holdings Public |
| VGI Public |
Intouch Holdings and VGI Public Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Intouch Holdings and VGI Public
The main advantage of trading using opposite Intouch Holdings and VGI Public positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Intouch Holdings position performs unexpectedly, VGI Public 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 VGI Public will offset losses from the drop in VGI Public'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 |
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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 Competition Analyzer module to analyze and compare many basic indicators for a group of related or unrelated entities.
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