Correlation Between Kasikornbank Public and Thai OPP
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By analyzing existing cross correlation between Kasikornbank Public and Thai OPP Public, you can compare the effects of market volatilities on Kasikornbank Public and Thai OPP 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 OPP. Check out your portfolio center. Please also check ongoing floating volatility patterns of Kasikornbank Public and Thai OPP.
Diversification Opportunities for Kasikornbank Public and Thai OPP
0.2 | Correlation Coefficient |
Modest diversification
The 3 months correlation between Kasikornbank and Thai is 0.2. Overlapping area represents the amount of risk that can be diversified away by holding Kasikornbank Public and Thai OPP Public in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Thai OPP 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 OPP. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Thai OPP Public has no effect on the direction of Kasikornbank Public i.e., Kasikornbank Public and Thai OPP go up and down completely randomly.
Pair Corralation between Kasikornbank Public and Thai OPP
Assuming the 90 days trading horizon Kasikornbank Public is expected to generate 82.93 times less return on investment than Thai OPP. But when comparing it to its historical volatility, Kasikornbank Public is 38.27 times less risky than Thai OPP. It trades about 0.02 of its potential returns per unit of risk. Thai OPP Public is currently generating about 0.04 of returns per unit of risk over similar time horizon. If you would invest 15,390 in Thai OPP Public on September 12, 2024 and sell it today you would earn a total of 1,310 from holding Thai OPP Public or generate 8.51% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 99.58% |
| Values | Daily Returns |
Kasikornbank Public vs. Thai OPP Public
Performance |
| Timeline |
| Kasikornbank Public |
| Thai OPP Public |
Kasikornbank Public and Thai OPP Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Kasikornbank Public and Thai OPP
The main advantage of trading using opposite Kasikornbank Public and Thai OPP positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Kasikornbank Public position performs unexpectedly, Thai OPP 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 OPP will offset losses from the drop in Thai OPP'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 Commodity Directory module to find actively traded commodities issued by global exchanges.
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