Correlation Between Kasikornbank Public and PTT Exploration
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By analyzing existing cross correlation between Kasikornbank Public and PTT Exploration and, you can compare the effects of market volatilities on Kasikornbank Public and PTT Exploration 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 PTT Exploration. Check out your portfolio center. Please also check ongoing floating volatility patterns of Kasikornbank Public and PTT Exploration.
Diversification Opportunities for Kasikornbank Public and PTT Exploration
0.04 | Correlation Coefficient |
Significant diversification
The 3 months correlation between Kasikornbank and PTT is 0.04. Overlapping area represents the amount of risk that can be diversified away by holding Kasikornbank Public and PTT Exploration and in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on PTT Exploration 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 PTT Exploration. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of PTT Exploration has no effect on the direction of Kasikornbank Public i.e., Kasikornbank Public and PTT Exploration go up and down completely randomly.
Pair Corralation between Kasikornbank Public and PTT Exploration
Assuming the 90 days trading horizon Kasikornbank Public is expected to generate 206.55 times less return on investment than PTT Exploration. But when comparing it to its historical volatility, Kasikornbank Public is 53.92 times less risky than PTT Exploration. It trades about 0.01 of its potential returns per unit of risk. PTT Exploration and is currently generating about 0.06 of returns per unit of risk over similar time horizon. If you would invest 18,917 in PTT Exploration and on August 28, 2024 and sell it today you would lose (5,967) from holding PTT Exploration and or give up 31.54% 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. PTT Exploration and
Performance |
| Timeline |
| Kasikornbank Public |
| PTT Exploration |
Kasikornbank Public and PTT Exploration Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Kasikornbank Public and PTT Exploration
The main advantage of trading using opposite Kasikornbank Public and PTT Exploration positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Kasikornbank Public position performs unexpectedly, PTT Exploration 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 PTT Exploration will offset losses from the drop in PTT Exploration'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 |
| PTT Exploration vs. PTT Public | PTT Exploration vs. CP ALL Public | PTT Exploration vs. Airports of Thailand | PTT Exploration vs. PTT Exploration and |
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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