Correlation Between Kasikornbank Public and Thai Oil
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By analyzing existing cross correlation between Kasikornbank Public and Thai Oil Public, you can compare the effects of market volatilities on Kasikornbank Public and Thai Oil 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 Thai Oil. Check out your portfolio center. Please also check ongoing floating volatility patterns of Kasikornbank Public and Thai Oil.
Diversification Opportunities for Kasikornbank Public and Thai Oil
-0.34 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Kasikornbank and Thai is -0.34. Overlapping area represents the amount of risk that can be diversified away by holding Kasikornbank Public and Thai Oil Public in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Thai Oil 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 Thai Oil. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Thai Oil Public has no effect on the direction of Kasikornbank Public i.e., Kasikornbank Public and Thai Oil go up and down completely randomly.
Pair Corralation between Kasikornbank Public and Thai Oil
If you would invest 15,400 in Kasikornbank Public on October 20, 2024 and sell it today you would earn a total of 700.00 from holding Kasikornbank Public or generate 4.55% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 42.86% |
| Values | Daily Returns |
Kasikornbank Public vs. Thai Oil Public
Performance |
| Timeline |
| Kasikornbank Public |
| Thai Oil Public |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
Kasikornbank Public and Thai Oil Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Kasikornbank Public and Thai Oil
The main advantage of trading using opposite Kasikornbank Public and Thai Oil positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Kasikornbank Public position performs unexpectedly, Thai Oil 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 Thai Oil will offset losses from the drop in Thai Oil'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 Portfolio Volatility module to check portfolio volatility and analyze historical return density to properly model market risk.
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