Correlation Between Kasikornbank Public and Ratch Group
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By analyzing existing cross correlation between Kasikornbank Public and Ratch Group Public, you can compare the effects of market volatilities on Kasikornbank Public and Ratch Group 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 Ratch Group. Check out your portfolio center. Please also check ongoing floating volatility patterns of Kasikornbank Public and Ratch Group.
Diversification Opportunities for Kasikornbank Public and Ratch Group
0.6 | Correlation Coefficient |
Poor diversification
The 3 months correlation between Kasikornbank and Ratch is 0.6. Overlapping area represents the amount of risk that can be diversified away by holding Kasikornbank Public and Ratch Group Public in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Ratch Group 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 Ratch Group. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Ratch Group Public has no effect on the direction of Kasikornbank Public i.e., Kasikornbank Public and Ratch Group go up and down completely randomly.
Pair Corralation between Kasikornbank Public and Ratch Group
Assuming the 90 days trading horizon Kasikornbank Public is expected to generate 0.44 times more return on investment than Ratch Group. However, Kasikornbank Public is 2.25 times less risky than Ratch Group. It trades about 0.04 of its potential returns per unit of risk. Ratch Group Public is currently generating about -0.1 per unit of risk. If you would invest 14,850 in Kasikornbank Public on August 30, 2024 and sell it today you would earn a total of 100.00 from holding Kasikornbank Public or generate 0.67% 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. Ratch Group Public
Performance |
| Timeline |
| Kasikornbank Public |
| Ratch Group Public |
Kasikornbank Public and Ratch Group Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Kasikornbank Public and Ratch Group
The main advantage of trading using opposite Kasikornbank Public and Ratch Group positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Kasikornbank Public position performs unexpectedly, Ratch Group 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 Ratch Group will offset losses from the drop in Ratch Group'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 |
| Ratch Group vs. WHA Public | Ratch Group vs. Global Power Synergy | Ratch Group vs. TPI Polene Power | Ratch Group vs. Bangkok Expressway 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 Money Managers module to screen money managers from public funds and ETFs managed around the world.
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