Correlation Between Jay Mart and Thai Mitsuwa
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By analyzing existing cross correlation between Jay Mart Public and Thai Mitsuwa Public, you can compare the effects of market volatilities on Jay Mart and Thai Mitsuwa 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 Thai Mitsuwa. Check out your portfolio center. Please also check ongoing floating volatility patterns of Jay Mart and Thai Mitsuwa.
Diversification Opportunities for Jay Mart and Thai Mitsuwa
0.04 | Correlation Coefficient |
Significant diversification
The 3 months correlation between Jay and Thai is 0.04. Overlapping area represents the amount of risk that can be diversified away by holding Jay Mart Public and Thai Mitsuwa Public in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Thai Mitsuwa Public 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 Thai Mitsuwa. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Thai Mitsuwa Public has no effect on the direction of Jay Mart i.e., Jay Mart and Thai Mitsuwa go up and down completely randomly.
Pair Corralation between Jay Mart and Thai Mitsuwa
Assuming the 90 days trading horizon Jay Mart Public is expected to under-perform the Thai Mitsuwa. In addition to that, Jay Mart is 2.82 times more volatile than Thai Mitsuwa Public. It trades about -0.13 of its total potential returns per unit of risk. Thai Mitsuwa Public is currently generating about -0.08 per unit of volatility. If you would invest 6,400 in Thai Mitsuwa Public on September 1, 2024 and sell it today you would lose (150.00) from holding Thai Mitsuwa Public or give up 2.34% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 95.65% |
| Values | Daily Returns |
Jay Mart Public vs. Thai Mitsuwa Public
Performance |
| Timeline |
| Jay Mart Public |
| Thai Mitsuwa Public |
Jay Mart and Thai Mitsuwa Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Jay Mart and Thai Mitsuwa
The main advantage of trading using opposite Jay Mart and Thai Mitsuwa positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Jay Mart position performs unexpectedly, Thai Mitsuwa 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 Thai Mitsuwa will offset losses from the drop in Thai Mitsuwa's long position.| Jay Mart vs. Jay Mart Public | Jay Mart vs. Krungthai Card Public | Jay Mart vs. Kasikornbank Public | Jay Mart vs. KERRY EXPRESS |
| Thai Mitsuwa vs. Sherwood Public | Thai Mitsuwa vs. Thanachart Capital Public | Thai Mitsuwa vs. T S Flour | Thai Mitsuwa vs. Ubis Public |
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 Comparator module to compare the composition, asset allocations and performance of any two portfolios in your account.
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