Correlation Between Kasikornbank Public and Kiattana Transport
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By analyzing existing cross correlation between Kasikornbank Public and Kiattana Transport Public, you can compare the effects of market volatilities on Kasikornbank Public and Kiattana Transport 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 Kiattana Transport. Check out your portfolio center. Please also check ongoing floating volatility patterns of Kasikornbank Public and Kiattana Transport.
Diversification Opportunities for Kasikornbank Public and Kiattana Transport
-0.82 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Kasikornbank and Kiattana is -0.82. Overlapping area represents the amount of risk that can be diversified away by holding Kasikornbank Public and Kiattana Transport Public in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Kiattana Transport 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 Kiattana Transport. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Kiattana Transport Public has no effect on the direction of Kasikornbank Public i.e., Kasikornbank Public and Kiattana Transport go up and down completely randomly.
Pair Corralation between Kasikornbank Public and Kiattana Transport
Assuming the 90 days trading horizon Kasikornbank Public is expected to generate 0.41 times more return on investment than Kiattana Transport. However, Kasikornbank Public is 2.41 times less risky than Kiattana Transport. It trades about 0.18 of its potential returns per unit of risk. Kiattana Transport Public is currently generating about -0.06 per unit of risk. If you would invest 15,500 in Kasikornbank Public on November 3, 2024 and sell it today you would earn a total of 550.00 from holding Kasikornbank Public or generate 3.55% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Significant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Kasikornbank Public vs. Kiattana Transport Public
Performance |
| Timeline |
| Kasikornbank Public |
| Kiattana Transport Public |
Kasikornbank Public and Kiattana Transport Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Kasikornbank Public and Kiattana Transport
The main advantage of trading using opposite Kasikornbank Public and Kiattana Transport positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Kasikornbank Public position performs unexpectedly, Kiattana Transport 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 Kiattana Transport will offset losses from the drop in Kiattana Transport'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 Idea Analyzer module to analyze all characteristics, volatility and risk-adjusted return of Macroaxis ideas.
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