Correlation Between Jay Mart and Kiatnakin Phatra
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By analyzing existing cross correlation between Jay Mart Public and Kiatnakin Phatra Bank, you can compare the effects of market volatilities on Jay Mart and Kiatnakin Phatra 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 Jay Mart with a short position of Kiatnakin Phatra. Check out your portfolio center. Please also check ongoing floating volatility patterns of Jay Mart and Kiatnakin Phatra.
Diversification Opportunities for Jay Mart and Kiatnakin Phatra
-0.03 | Correlation Coefficient |
Good diversification
The 3 months correlation between Jay and Kiatnakin is -0.03. Overlapping area represents the amount of risk that can be diversified away by holding Jay Mart Public and Kiatnakin Phatra Bank in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Kiatnakin Phatra Bank and Jay Mart 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 Jay Mart Public are associated (or correlated) with Kiatnakin Phatra. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Kiatnakin Phatra Bank has no effect on the direction of Jay Mart i.e., Jay Mart and Kiatnakin Phatra go up and down completely randomly.
Pair Corralation between Jay Mart and Kiatnakin Phatra
Assuming the 90 days trading horizon Jay Mart is expected to generate 1.01 times less return on investment than Kiatnakin Phatra. But when comparing it to its historical volatility, Jay Mart Public is 1.01 times less risky than Kiatnakin Phatra. It trades about 0.11 of its potential returns per unit of risk. Kiatnakin Phatra Bank is currently generating about 0.11 of returns per unit of risk over similar time horizon. If you would invest 6,300 in Kiatnakin Phatra Bank on September 2, 2024 and sell it today you would lose (1,250) from holding Kiatnakin Phatra Bank or give up 19.84% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 98.4% |
| Values | Daily Returns |
Jay Mart Public vs. Kiatnakin Phatra Bank
Performance |
| Timeline |
| Jay Mart Public |
| Kiatnakin Phatra Bank |
Jay Mart and Kiatnakin Phatra Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Jay Mart and Kiatnakin Phatra
The main advantage of trading using opposite Jay Mart and Kiatnakin Phatra positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Jay Mart position performs unexpectedly, Kiatnakin Phatra 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 Kiatnakin Phatra will offset losses from the drop in Kiatnakin Phatra's long position.| Jay Mart vs. LH Shopping Centers | Jay Mart vs. HEMARAJ INDUSTRIAL PROPERTY | Jay Mart vs. Land and Houses |
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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 Balance Of Power module to check stock momentum by analyzing Balance Of Power indicator and other technical ratios.
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