Correlation Between Kasikornbank Public and Krungthai Card
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By analyzing existing cross correlation between Kasikornbank Public and Krungthai Card Public, you can compare the effects of market volatilities on Kasikornbank Public and Krungthai Card 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 Krungthai Card. Check out your portfolio center. Please also check ongoing floating volatility patterns of Kasikornbank Public and Krungthai Card.
Diversification Opportunities for Kasikornbank Public and Krungthai Card
0.07 | Correlation Coefficient |
Significant diversification
The 3 months correlation between Kasikornbank and Krungthai is 0.07. Overlapping area represents the amount of risk that can be diversified away by holding Kasikornbank Public and Krungthai Card Public in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Krungthai Card 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 Krungthai Card. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Krungthai Card Public has no effect on the direction of Kasikornbank Public i.e., Kasikornbank Public and Krungthai Card go up and down completely randomly.
Pair Corralation between Kasikornbank Public and Krungthai Card
Assuming the 90 days trading horizon Kasikornbank Public is expected to generate 216.66 times less return on investment than Krungthai Card. But when comparing it to its historical volatility, Kasikornbank Public is 53.93 times less risky than Krungthai Card. It trades about 0.01 of its potential returns per unit of risk. Krungthai Card Public is currently generating about 0.06 of returns per unit of risk over similar time horizon. If you would invest 5,912 in Krungthai Card Public on September 2, 2024 and sell it today you would lose (1,237) from holding Krungthai Card Public or give up 20.92% 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. Krungthai Card Public
Performance |
| Timeline |
| Kasikornbank Public |
| Krungthai Card Public |
Kasikornbank Public and Krungthai Card Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Kasikornbank Public and Krungthai Card
The main advantage of trading using opposite Kasikornbank Public and Krungthai Card positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Kasikornbank Public position performs unexpectedly, Krungthai Card 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 Krungthai Card will offset losses from the drop in Krungthai Card'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 |
| Krungthai Card vs. Krung Thai Bank | Krungthai Card vs. Bangkok Expressway and | Krungthai Card vs. The Siam Commercial | Krungthai Card vs. Advanced Info Service |
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 Stocks Directory module to find actively traded stocks across global markets.
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