Correlation Between KERRY EXPRESS and Kasikornbank Public
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By analyzing existing cross correlation between KERRY EXPRESS and Kasikornbank Public, you can compare the effects of market volatilities on KERRY EXPRESS and Kasikornbank Public 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 KERRY EXPRESS with a short position of Kasikornbank Public. Check out your portfolio center. Please also check ongoing floating volatility patterns of KERRY EXPRESS and Kasikornbank Public.
Diversification Opportunities for KERRY EXPRESS and Kasikornbank Public
0.06 | Correlation Coefficient |
Significant diversification
The 3 months correlation between KERRY and Kasikornbank is 0.06. Overlapping area represents the amount of risk that can be diversified away by holding KERRY EXPRESS and Kasikornbank Public in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Kasikornbank Public and KERRY EXPRESS 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 KERRY EXPRESS are associated (or correlated) with Kasikornbank Public. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Kasikornbank Public has no effect on the direction of KERRY EXPRESS i.e., KERRY EXPRESS and Kasikornbank Public go up and down completely randomly.
Pair Corralation between KERRY EXPRESS and Kasikornbank Public
Assuming the 90 days trading horizon KERRY EXPRESS is expected to under-perform the Kasikornbank Public. In addition to that, KERRY EXPRESS is 22.18 times more volatile than Kasikornbank Public. It trades about -0.22 of its total potential returns per unit of risk. Kasikornbank Public is currently generating about 0.23 per unit of volatility. 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 | Insignificant |
| Accuracy | 95.65% |
| Values | Daily Returns |
KERRY EXPRESS vs. Kasikornbank Public
Performance |
| Timeline |
| KERRY EXPRESS |
| Kasikornbank Public |
KERRY EXPRESS and Kasikornbank Public Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with KERRY EXPRESS and Kasikornbank Public
The main advantage of trading using opposite KERRY EXPRESS and Kasikornbank Public positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if KERRY EXPRESS position performs unexpectedly, Kasikornbank Public 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 Kasikornbank Public will offset losses from the drop in Kasikornbank Public's long position.| KERRY EXPRESS vs. Kerry Express Public | KERRY EXPRESS vs. Triple i Logistics | KERRY EXPRESS vs. WICE Logistics PCL | KERRY EXPRESS vs. Leo Global Logistics |
| Kasikornbank Public vs. PTT Public | Kasikornbank Public vs. The Siam Commercial | Kasikornbank Public vs. CP ALL Public | Kasikornbank Public vs. SCB X 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 Portfolio Diagnostics module to use generated alerts and portfolio events aggregator to diagnose current holdings.
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