Correlation Between Kasikornbank Public and Siam Cement
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By analyzing existing cross correlation between Kasikornbank Public and The Siam Cement, you can compare the effects of market volatilities on Kasikornbank Public and Siam Cement 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 Siam Cement. Check out your portfolio center. Please also check ongoing floating volatility patterns of Kasikornbank Public and Siam Cement.
Diversification Opportunities for Kasikornbank Public and Siam Cement
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Kasikornbank and Siam is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Kasikornbank Public and The Siam Cement in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Siam Cement 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 Siam Cement. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Siam Cement has no effect on the direction of Kasikornbank Public i.e., Kasikornbank Public and Siam Cement go up and down completely randomly.
Pair Corralation between Kasikornbank Public and Siam Cement
Assuming the 90 days trading horizon Kasikornbank Public is expected to generate 0.61 times more return on investment than Siam Cement. However, Kasikornbank Public is 1.65 times less risky than Siam Cement. It trades about 0.01 of its potential returns per unit of risk. The Siam Cement is currently generating about -0.04 per unit of risk. If you would invest 14,250 in Kasikornbank Public on August 28, 2024 and sell it today you would earn a total of 750.00 from holding Kasikornbank Public or generate 5.26% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Kasikornbank Public vs. The Siam Cement
Performance |
| Timeline |
| Kasikornbank Public |
| Siam Cement |
Kasikornbank Public and Siam Cement Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Kasikornbank Public and Siam Cement
The main advantage of trading using opposite Kasikornbank Public and Siam Cement positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Kasikornbank Public position performs unexpectedly, Siam Cement 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 Siam Cement will offset losses from the drop in Siam Cement'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 |
| Siam Cement vs. NCL International Logistics | Siam Cement vs. The Erawan Group | Siam Cement vs. Airports of Thailand | Siam Cement vs. Eastern Technical Engineering |
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 Equity Forecasting module to use basic forecasting models to generate price predictions and determine price momentum.
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