Correlation Between Kasikornbank Public and Sri Trang
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By analyzing existing cross correlation between Kasikornbank Public and Sri Trang Agro Industry, you can compare the effects of market volatilities on Kasikornbank Public and Sri Trang 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 Sri Trang. Check out your portfolio center. Please also check ongoing floating volatility patterns of Kasikornbank Public and Sri Trang.
Diversification Opportunities for Kasikornbank Public and Sri Trang
0.36 | Correlation Coefficient |
Weak diversification
The 3 months correlation between Kasikornbank and Sri is 0.36. Overlapping area represents the amount of risk that can be diversified away by holding Kasikornbank Public and Sri Trang Agro Industry in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Sri Trang Agro 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 Sri Trang. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Sri Trang Agro has no effect on the direction of Kasikornbank Public i.e., Kasikornbank Public and Sri Trang go up and down completely randomly.
Pair Corralation between Kasikornbank Public and Sri Trang
Assuming the 90 days trading horizon Kasikornbank Public is expected to generate 0.23 times more return on investment than Sri Trang. However, Kasikornbank Public is 4.38 times less risky than Sri Trang. It trades about 0.23 of its potential returns per unit of risk. Sri Trang Agro Industry is currently generating about -0.17 per unit of risk. If you would invest 14,550 in Kasikornbank Public on August 31, 2024 and sell it today you would earn a total of 450.00 from holding Kasikornbank Public or generate 3.09% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Kasikornbank Public vs. Sri Trang Agro Industry
Performance |
| Timeline |
| Kasikornbank Public |
| Sri Trang Agro |
Kasikornbank Public and Sri Trang Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Kasikornbank Public and Sri Trang
The main advantage of trading using opposite Kasikornbank Public and Sri Trang positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Kasikornbank Public position performs unexpectedly, Sri Trang 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 Sri Trang will offset losses from the drop in Sri Trang'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 |
| Sri Trang vs. Sri Trang Gloves | Sri Trang vs. Charoen Pokphand Foods | Sri Trang vs. Thai Union Group | Sri Trang vs. The Siam Cement |
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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