Correlation Between Kasikornbank Public and Jay Mart
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By analyzing existing cross correlation between Kasikornbank Public and Jay Mart Public, you can compare the effects of market volatilities on Kasikornbank Public and Jay Mart 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 Jay Mart. Check out your portfolio center. Please also check ongoing floating volatility patterns of Kasikornbank Public and Jay Mart.
Diversification Opportunities for Kasikornbank Public and Jay Mart
0.05 | Correlation Coefficient |
Significant diversification
The 3 months correlation between Kasikornbank and Jay is 0.05. Overlapping area represents the amount of risk that can be diversified away by holding Kasikornbank Public and Jay Mart Public in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Jay Mart 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 Jay Mart. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Jay Mart Public has no effect on the direction of Kasikornbank Public i.e., Kasikornbank Public and Jay Mart go up and down completely randomly.
Pair Corralation between Kasikornbank Public and Jay Mart
Assuming the 90 days trading horizon Kasikornbank Public is expected to generate 98.87 times less return on investment than Jay Mart. But when comparing it to its historical volatility, Kasikornbank Public is 80.63 times less risky than Jay Mart. It trades about 0.07 of its potential returns per unit of risk. Jay Mart Public is currently generating about 0.08 of returns per unit of risk over similar time horizon. If you would invest 1,593 in Jay Mart Public on September 2, 2024 and sell it today you would lose (183.00) from holding Jay Mart Public or give up 11.49% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Kasikornbank Public vs. Jay Mart Public
Performance |
| Timeline |
| Kasikornbank Public |
| Jay Mart Public |
Kasikornbank Public and Jay Mart Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Kasikornbank Public and Jay Mart
The main advantage of trading using opposite Kasikornbank Public and Jay Mart positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Kasikornbank Public position performs unexpectedly, Jay Mart 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 Jay Mart will offset losses from the drop in Jay Mart'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 |
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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 CEOs Directory module to screen CEOs from public companies around the world.
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