Correlation Between Kasikornbank Public and Ekarat Engineering
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By analyzing existing cross correlation between Kasikornbank Public and Ekarat Engineering Public, you can compare the effects of market volatilities on Kasikornbank Public and Ekarat Engineering 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 Kasikornbank Public with a short position of Ekarat Engineering. Check out your portfolio center. Please also check ongoing floating volatility patterns of Kasikornbank Public and Ekarat Engineering.
Diversification Opportunities for Kasikornbank Public and Ekarat Engineering
0.27 | Correlation Coefficient |
Modest diversification
The 3 months correlation between Kasikornbank and Ekarat is 0.27. Overlapping area represents the amount of risk that can be diversified away by holding Kasikornbank Public and Ekarat Engineering Public in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Ekarat Engineering Public and Kasikornbank Public 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 Kasikornbank Public are associated (or correlated) with Ekarat Engineering. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Ekarat Engineering Public has no effect on the direction of Kasikornbank Public i.e., Kasikornbank Public and Ekarat Engineering go up and down completely randomly.
Pair Corralation between Kasikornbank Public and Ekarat Engineering
Assuming the 90 days trading horizon Kasikornbank Public is expected to generate 0.58 times more return on investment than Ekarat Engineering. However, Kasikornbank Public is 1.71 times less risky than Ekarat Engineering. It trades about 0.46 of its potential returns per unit of risk. Ekarat Engineering Public is currently generating about -0.09 per unit of risk. If you would invest 14,750 in Kasikornbank Public on September 12, 2024 and sell it today you would earn a total of 900.00 from holding Kasikornbank Public or generate 6.1% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Kasikornbank Public vs. Ekarat Engineering Public
Performance |
| Timeline |
| Kasikornbank Public |
| Ekarat Engineering Public |
Kasikornbank Public and Ekarat Engineering Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Kasikornbank Public and Ekarat Engineering
The main advantage of trading using opposite Kasikornbank Public and Ekarat Engineering positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Kasikornbank Public position performs unexpectedly, Ekarat Engineering 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 Ekarat Engineering will offset losses from the drop in Ekarat Engineering's long position.| Kasikornbank Public vs. PTT Public | Kasikornbank Public vs. The Siam Commercial | Kasikornbank Public vs. CP ALL Public | Kasikornbank Public vs. SCB X Public |
| Ekarat Engineering vs. Kasikornbank Public | Ekarat Engineering vs. Siamgas and Petrochemicals | Ekarat Engineering vs. Rich Sport Public | Ekarat Engineering vs. Bangkok Bank 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 Pattern Recognition module to use different Pattern Recognition models to time the market across multiple global exchanges.
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