Correlation Between Kiattana Transport and Supalai Public
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By analyzing existing cross correlation between Kiattana Transport Public and Supalai Public, you can compare the effects of market volatilities on Kiattana Transport and Supalai 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 Kiattana Transport with a short position of Supalai Public. Check out your portfolio center. Please also check ongoing floating volatility patterns of Kiattana Transport and Supalai Public.
Diversification Opportunities for Kiattana Transport and Supalai Public
0.14 | Correlation Coefficient |
Average diversification
The 3 months correlation between Kiattana and Supalai is 0.14. Overlapping area represents the amount of risk that can be diversified away by holding Kiattana Transport Public and Supalai Public in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Supalai Public and Kiattana Transport 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 Kiattana Transport Public are associated (or correlated) with Supalai Public. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Supalai Public has no effect on the direction of Kiattana Transport i.e., Kiattana Transport and Supalai Public go up and down completely randomly.
Pair Corralation between Kiattana Transport and Supalai Public
Assuming the 90 days trading horizon Kiattana Transport is expected to generate 2.04 times less return on investment than Supalai Public. But when comparing it to its historical volatility, Kiattana Transport Public is 1.41 times less risky than Supalai Public. It trades about 0.04 of its potential returns per unit of risk. Supalai Public is currently generating about 0.06 of returns per unit of risk over similar time horizon. If you would invest 2,478 in Supalai Public on September 12, 2024 and sell it today you would lose (548.00) from holding Supalai Public or give up 22.11% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Kiattana Transport Public vs. Supalai Public
Performance |
| Timeline |
| Kiattana Transport Public |
| Supalai Public |
Kiattana Transport and Supalai Public Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Kiattana Transport and Supalai Public
The main advantage of trading using opposite Kiattana Transport and Supalai Public positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Kiattana Transport position performs unexpectedly, Supalai 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 Supalai Public will offset losses from the drop in Supalai Public's long position.| Kiattana Transport vs. Hwa Fong Rubber | Kiattana Transport vs. Karmarts Public | Kiattana Transport vs. Jay Mart Public | Kiattana Transport vs. IRPC Public |
| Supalai Public vs. Property Perfect Public | Supalai Public vs. The Erawan Group | Supalai Public vs. Jay Mart Public | Supalai Public 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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