Correlation Between Kasikornbank Public and TMBThanachart Bank
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By analyzing existing cross correlation between Kasikornbank Public and TMBThanachart Bank Public, you can compare the effects of market volatilities on Kasikornbank Public and TMBThanachart Bank 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 TMBThanachart Bank. Check out your portfolio center. Please also check ongoing floating volatility patterns of Kasikornbank Public and TMBThanachart Bank.
Diversification Opportunities for Kasikornbank Public and TMBThanachart Bank
0.82 | Correlation Coefficient |
Very poor diversification
The 3 months correlation between Kasikornbank and TMBThanachart is 0.82. Overlapping area represents the amount of risk that can be diversified away by holding Kasikornbank Public and TMBThanachart Bank Public in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on TMBThanachart Bank 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 TMBThanachart Bank. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of TMBThanachart Bank Public has no effect on the direction of Kasikornbank Public i.e., Kasikornbank Public and TMBThanachart Bank go up and down completely randomly.
Pair Corralation between Kasikornbank Public and TMBThanachart Bank
Assuming the 90 days trading horizon Kasikornbank Public is expected to generate 5.24 times less return on investment than TMBThanachart Bank. But when comparing it to its historical volatility, Kasikornbank Public is 1.19 times less risky than TMBThanachart Bank. It trades about 0.01 of its potential returns per unit of risk. TMBThanachart Bank Public is currently generating about 0.07 of returns per unit of risk over similar time horizon. If you would invest 121.00 in TMBThanachart Bank Public on August 28, 2024 and sell it today you would earn a total of 60.00 from holding TMBThanachart Bank Public or generate 49.59% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Strong |
| Accuracy | 100.0% |
| Values | Daily Returns |
Kasikornbank Public vs. TMBThanachart Bank Public
Performance |
| Timeline |
| Kasikornbank Public |
| TMBThanachart Bank Public |
Kasikornbank Public and TMBThanachart Bank Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Kasikornbank Public and TMBThanachart Bank
The main advantage of trading using opposite Kasikornbank Public and TMBThanachart Bank positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Kasikornbank Public position performs unexpectedly, TMBThanachart Bank 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 TMBThanachart Bank will offset losses from the drop in TMBThanachart Bank'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 |
| TMBThanachart Bank vs. PTT Public | TMBThanachart Bank vs. CP ALL Public | TMBThanachart Bank vs. SCB X Public | TMBThanachart Bank vs. Airports of Thailand |
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 Earnings Calls module to check upcoming earnings announcements updated hourly across public exchanges.
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