Correlation Between Kasikornbank Public and China CITIC
Can any of the company-specific risk be diversified away by investing in both Kasikornbank Public and China CITIC 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 Kasikornbank Public and China CITIC into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Kasikornbank Public Co and China CITIC Bank, you can compare the effects of market volatilities on Kasikornbank Public and China CITIC 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 China CITIC. Check out your portfolio center. Please also check ongoing floating volatility patterns of Kasikornbank Public and China CITIC.
Diversification Opportunities for Kasikornbank Public and China CITIC
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Kasikornbank and China is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Kasikornbank Public Co and China CITIC Bank in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on China CITIC Bank 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 Co are associated (or correlated) with China CITIC. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of China CITIC Bank has no effect on the direction of Kasikornbank Public i.e., Kasikornbank Public and China CITIC go up and down completely randomly.
Pair Corralation between Kasikornbank Public and China CITIC
If you would invest 1,366 in Kasikornbank Public Co on December 11, 2024 and sell it today you would earn a total of 276.00 from holding Kasikornbank Public Co or generate 20.2% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 0.0% |
| Values | Daily Returns |
Kasikornbank Public Co vs. China CITIC Bank
Performance |
| Timeline |
| Kasikornbank Public |
| China CITIC Bank |
Risk-Adjusted Performance
Very Weak
Weak | Strong |
Kasikornbank Public and China CITIC Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Kasikornbank Public and China CITIC
The main advantage of trading using opposite Kasikornbank Public and China CITIC positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Kasikornbank Public position performs unexpectedly, China CITIC 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 China CITIC will offset losses from the drop in China CITIC's long position.| Kasikornbank Public vs. Turkiye Garanti Bankasi | ||
| Kasikornbank Public vs. Hang Seng Bank | ||
| Kasikornbank Public vs. PT Bank Rakyat | ||
| Kasikornbank Public vs. Delhi Bank Corp |
| China CITIC vs. Postal Savings Bank | ||
| China CITIC vs. China Merchants Bank | ||
| China CITIC vs. China Merchants Bank | ||
| China CITIC vs. Community West Bancshares |
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 Economic Indicators module to top statistical indicators that provide insights into how an economy is performing.
Other Complementary Tools
| Premium Stories Follow Macroaxis premium stories from verified contributors across different equity types, categories and coverage scope | |
| Sectors List of equity sectors categorizing publicly traded companies based on their primary business activities | |
| Portfolio Backtesting Avoid under-diversification and over-optimization by backtesting your portfolios | |
| Stock Screener Find equities using a custom stock filter or screen asymmetry in trading patterns, price, volume, or investment outlook. | |
| Share Portfolio Track or share privately all of your investments from the convenience of any device |