Correlation Between Kasikornbank Public and Singer Thailand
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By analyzing existing cross correlation between Kasikornbank Public and Singer Thailand Public, you can compare the effects of market volatilities on Kasikornbank Public and Singer Thailand 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 Singer Thailand. Check out your portfolio center. Please also check ongoing floating volatility patterns of Kasikornbank Public and Singer Thailand.
Diversification Opportunities for Kasikornbank Public and Singer Thailand
0.49 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between Kasikornbank and Singer is 0.49. Overlapping area represents the amount of risk that can be diversified away by holding Kasikornbank Public and Singer Thailand Public in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Singer Thailand 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 Singer Thailand. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Singer Thailand Public has no effect on the direction of Kasikornbank Public i.e., Kasikornbank Public and Singer Thailand go up and down completely randomly.
Pair Corralation between Kasikornbank Public and Singer Thailand
Assuming the 90 days trading horizon Kasikornbank Public is expected to generate 0.3 times more return on investment than Singer Thailand. However, Kasikornbank Public is 3.35 times less risky than Singer Thailand. It trades about 0.12 of its potential returns per unit of risk. Singer Thailand Public is currently generating about -0.31 per unit of risk. If you would invest 14,650 in Kasikornbank Public on August 25, 2024 and sell it today you would earn a total of 300.00 from holding Kasikornbank Public or generate 2.05% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 95.65% |
| Values | Daily Returns |
Kasikornbank Public vs. Singer Thailand Public
Performance |
| Timeline |
| Kasikornbank Public |
| Singer Thailand Public |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
OK
Kasikornbank Public and Singer Thailand Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Kasikornbank Public and Singer Thailand
The main advantage of trading using opposite Kasikornbank Public and Singer Thailand positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Kasikornbank Public position performs unexpectedly, Singer Thailand 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 Singer Thailand will offset losses from the drop in Singer Thailand'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 Fundamentals Comparison module to compare fundamentals across multiple equities to find investing opportunities.
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