Correlation Between JKN Global and SRI TRANG
Can any of the company-specific risk be diversified away by investing in both JKN Global and SRI TRANG at the same time? Although using a correlation coefficient on its own may not help to predict future stock returns, this module helps to understand the diversifiable risk of combining JKN Global and SRI TRANG into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between JKN Global Media and SRI TRANG GLOVES, you can compare the effects of market volatilities on JKN Global and SRI TRANG 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 JKN Global with a short position of SRI TRANG. Check out your portfolio center. Please also check ongoing floating volatility patterns of JKN Global and SRI TRANG.
Diversification Opportunities for JKN Global and SRI TRANG
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between JKN and SRI is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding JKN Global Media and SRI TRANG GLOVES in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on SRI TRANG GLOVES and JKN Global 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 JKN Global Media are associated (or correlated) with SRI TRANG. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of SRI TRANG GLOVES has no effect on the direction of JKN Global i.e., JKN Global and SRI TRANG go up and down completely randomly.
Pair Corralation between JKN Global and SRI TRANG
If you would invest 31.00 in JKN Global Media on December 11, 2024 and sell it today you would earn a total of 0.00 from holding JKN Global Media or generate 0.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
JKN Global Media vs. SRI TRANG GLOVES
Performance |
| Timeline |
| JKN Global Media |
| SRI TRANG GLOVES |
JKN Global and SRI TRANG Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with JKN Global and SRI TRANG
The main advantage of trading using opposite JKN Global and SRI TRANG positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if JKN Global position performs unexpectedly, SRI TRANG 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 SRI TRANG will offset losses from the drop in SRI TRANG's long position.| JKN Global vs. Com7 PCL | JKN Global vs. BTS Group Holdings | JKN Global vs. Kiatnakin Phatra Bank | JKN Global vs. Bangkok Chain Hospital |
| SRI TRANG vs. Interlink Telecom Public | SRI TRANG vs. Halcyon Technology Public | SRI TRANG vs. Information and Communication | SRI TRANG vs. Advanced Information Technology |
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 Dashboard module to portfolio dashboard that provides centralized access to all your investments.
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