Correlation Between Kaltura and Thai Beverage
Can any of the company-specific risk be diversified away by investing in both Kaltura and Thai Beverage at the same time? Although using a correlation coefficient on its own may not help to predict future stock returns, this module helps to understand the diversifiable risk of combining Kaltura and Thai Beverage into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Kaltura and Thai Beverage PCL, you can compare the effects of market volatilities on Kaltura and Thai Beverage 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 Kaltura with a short position of Thai Beverage. Check out your portfolio center. Please also check ongoing floating volatility patterns of Kaltura and Thai Beverage.
Diversification Opportunities for Kaltura and Thai Beverage
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Kaltura and Thai is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Kaltura and Thai Beverage PCL in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Thai Beverage PCL and Kaltura 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 Kaltura are associated (or correlated) with Thai Beverage. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Thai Beverage PCL has no effect on the direction of Kaltura i.e., Kaltura and Thai Beverage go up and down completely randomly.
Pair Corralation between Kaltura and Thai Beverage
If you would invest 127.00 in Kaltura on September 1, 2024 and sell it today you would earn a total of 95.00 from holding Kaltura or generate 74.8% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 95.45% |
| Values | Daily Returns |
Kaltura vs. Thai Beverage PCL
Performance |
| Timeline |
| Kaltura |
| Thai Beverage PCL |
Kaltura and Thai Beverage Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Kaltura and Thai Beverage
The main advantage of trading using opposite Kaltura and Thai Beverage positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Kaltura position performs unexpectedly, Thai Beverage 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 Beverage will offset losses from the drop in Thai Beverage's long position.| Kaltura vs. Evertec | Kaltura vs. Consensus Cloud Solutions | Kaltura vs. Global Blue Group | Kaltura vs. Lesaka Technologies |
| Thai Beverage vs. Andrew Peller Limited | Thai Beverage vs. Aristocrat Group Corp | Thai Beverage vs. Iconic Brands | Thai Beverage vs. Naked Wines plc |
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 Headlines Timeline module to stay connected to all market stories and filter out noise. Drill down to analyze hype elasticity.
Other Complementary Tools
| Portfolio Comparator Compare the composition, asset allocations and performance of any two portfolios in your account | |
| Fundamentals Comparison Compare fundamentals across multiple equities to find investing opportunities | |
| Price Transformation Use Price Transformation models to analyze the depth of different equity instruments across global markets | |
| Idea Breakdown Analyze constituents of all Macroaxis ideas. Macroaxis investment ideas are predefined, sector-focused investing themes | |
| Portfolio Optimization Compute new portfolio that will generate highest expected return given your specified tolerance for risk |