Correlation Between Kasikornbank Public and Exotic Food
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By analyzing existing cross correlation between Kasikornbank Public and Exotic Food Public, you can compare the effects of market volatilities on Kasikornbank Public and Exotic Food 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 Exotic Food. Check out your portfolio center. Please also check ongoing floating volatility patterns of Kasikornbank Public and Exotic Food.
Diversification Opportunities for Kasikornbank Public and Exotic Food
0.1 | Correlation Coefficient |
Average diversification
The 3 months correlation between Kasikornbank and Exotic is 0.1. Overlapping area represents the amount of risk that can be diversified away by holding Kasikornbank Public and Exotic Food Public in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Exotic Food 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 Exotic Food. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Exotic Food Public has no effect on the direction of Kasikornbank Public i.e., Kasikornbank Public and Exotic Food go up and down completely randomly.
Pair Corralation between Kasikornbank Public and Exotic Food
Assuming the 90 days trading horizon Kasikornbank Public is expected to generate 0.31 times more return on investment than Exotic Food. However, Kasikornbank Public is 3.21 times less risky than Exotic Food. It trades about 0.02 of its potential returns per unit of risk. Exotic Food Public is currently generating about -0.27 per unit of risk. If you would invest 14,900 in Kasikornbank Public on August 29, 2024 and sell it today you would earn a total of 50.00 from holding Kasikornbank Public or generate 0.34% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Kasikornbank Public vs. Exotic Food Public
Performance |
| Timeline |
| Kasikornbank Public |
| Exotic Food Public |
Kasikornbank Public and Exotic Food Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Kasikornbank Public and Exotic Food
The main advantage of trading using opposite Kasikornbank Public and Exotic Food positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Kasikornbank Public position performs unexpectedly, Exotic Food 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 Exotic Food will offset losses from the drop in Exotic Food'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 |
| Exotic Food vs. Carabao Group Public | Exotic Food vs. Jay Mart Public | Exotic Food vs. Gulf Energy Development | Exotic Food vs. KCE Electronics Public |
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 Stock Screener module to find equities using a custom stock filter or screen asymmetry in trading patterns, price, volume, or investment outlook..
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