Correlation Between Kasikornbank Public and CP ALL
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By analyzing existing cross correlation between Kasikornbank Public and CP ALL Public, you can compare the effects of market volatilities on Kasikornbank Public and CP ALL 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 CP ALL. Check out your portfolio center. Please also check ongoing floating volatility patterns of Kasikornbank Public and CP ALL.
Diversification Opportunities for Kasikornbank Public and CP ALL
0.75 | Correlation Coefficient |
Poor diversification
The 3 months correlation between Kasikornbank and CPALL-R is 0.75. Overlapping area represents the amount of risk that can be diversified away by holding Kasikornbank Public and CP ALL Public in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on CP ALL 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 CP ALL. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of CP ALL Public has no effect on the direction of Kasikornbank Public i.e., Kasikornbank Public and CP ALL go up and down completely randomly.
Pair Corralation between Kasikornbank Public and CP ALL
Assuming the 90 days trading horizon Kasikornbank Public is expected to generate 0.91 times more return on investment than CP ALL. However, Kasikornbank Public is 1.09 times less risky than CP ALL. It trades about 0.01 of its potential returns per unit of risk. CP ALL Public is currently generating about 0.01 per unit of risk. If you would invest 14,250 in Kasikornbank Public on August 28, 2024 and sell it today you would earn a total of 750.00 from holding Kasikornbank Public or generate 5.26% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Significant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Kasikornbank Public vs. CP ALL Public
Performance |
| Timeline |
| Kasikornbank Public |
| CP ALL Public |
Kasikornbank Public and CP ALL Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Kasikornbank Public and CP ALL
The main advantage of trading using opposite Kasikornbank Public and CP ALL positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Kasikornbank Public position performs unexpectedly, CP ALL 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 CP ALL will offset losses from the drop in CP ALL's long position.| Kasikornbank Public vs. PTT Public | Kasikornbank Public vs. CP ALL Public | Kasikornbank Public vs. SCB X Public | Kasikornbank Public vs. Airports of Thailand |
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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 Risk-Return Analysis module to view associations between returns expected from investment and the risk you assume.
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