Correlation Between Krung Thai and Grande Hospitality
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By analyzing existing cross correlation between Krung Thai Bank and Grande Hospitality Real, you can compare the effects of market volatilities on Krung Thai and Grande Hospitality 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 Krung Thai with a short position of Grande Hospitality. Check out your portfolio center. Please also check ongoing floating volatility patterns of Krung Thai and Grande Hospitality.
Diversification Opportunities for Krung Thai and Grande Hospitality
0.36 | Correlation Coefficient |
Weak diversification
The 3 months correlation between Krung and Grande is 0.36. Overlapping area represents the amount of risk that can be diversified away by holding Krung Thai Bank and Grande Hospitality Real in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Grande Hospitality Real and Krung Thai 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 Krung Thai Bank are associated (or correlated) with Grande Hospitality. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Grande Hospitality Real has no effect on the direction of Krung Thai i.e., Krung Thai and Grande Hospitality go up and down completely randomly.
Pair Corralation between Krung Thai and Grande Hospitality
Assuming the 90 days trading horizon Krung Thai Bank is expected to generate 1.32 times more return on investment than Grande Hospitality. However, Krung Thai is 1.32 times more volatile than Grande Hospitality Real. It trades about 0.01 of its potential returns per unit of risk. Grande Hospitality Real is currently generating about -0.04 per unit of risk. If you would invest 1,940 in Krung Thai Bank on August 31, 2024 and sell it today you would earn a total of 60.00 from holding Krung Thai Bank or generate 3.09% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Krung Thai Bank vs. Grande Hospitality Real
Performance |
| Timeline |
| Krung Thai Bank |
| Grande Hospitality Real |
Krung Thai and Grande Hospitality Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Krung Thai and Grande Hospitality
The main advantage of trading using opposite Krung Thai and Grande Hospitality positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Krung Thai position performs unexpectedly, Grande Hospitality 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 Grande Hospitality will offset losses from the drop in Grande Hospitality's long position.| Krung Thai vs. The Siam Commercial | Krung Thai vs. Thai Oil Public | Krung Thai vs. Thai Union Group | Krung Thai vs. Kasikornbank Public |
| Grande Hospitality vs. LH Shopping Centers | Grande Hospitality vs. HEMARAJ INDUSTRIAL PROPERTY | Grande Hospitality vs. Land and Houses |
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 File Import module to quickly import all of your third-party portfolios from your local drive in csv format.
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