Correlation Between Krung Thai and KTBST Mixed
Specify exactly 2 symbols:
By analyzing existing cross correlation between Krung Thai Bank and KTBST Mixed Leasehold, you can compare the effects of market volatilities on Krung Thai and KTBST Mixed 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 KTBST Mixed. Check out your portfolio center. Please also check ongoing floating volatility patterns of Krung Thai and KTBST Mixed.
Diversification Opportunities for Krung Thai and KTBST Mixed
0.15 | Correlation Coefficient |
Average diversification
The 3 months correlation between Krung and KTBST is 0.15. Overlapping area represents the amount of risk that can be diversified away by holding Krung Thai Bank and KTBST Mixed Leasehold in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on KTBST Mixed Leasehold 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 KTBST Mixed. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of KTBST Mixed Leasehold has no effect on the direction of Krung Thai i.e., Krung Thai and KTBST Mixed go up and down completely randomly.
Pair Corralation between Krung Thai and KTBST Mixed
Assuming the 90 days trading horizon Krung Thai Bank is expected to under-perform the KTBST Mixed. But the stock apears to be less risky and, when comparing its historical volatility, Krung Thai Bank is 1.52 times less risky than KTBST Mixed. The stock trades about -0.18 of its potential returns per unit of risk. The KTBST Mixed Leasehold is currently generating about 0.05 of returns per unit of risk over similar time horizon. If you would invest 643.00 in KTBST Mixed Leasehold on August 29, 2024 and sell it today you would earn a total of 7.00 from holding KTBST Mixed Leasehold or generate 1.09% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Krung Thai Bank vs. KTBST Mixed Leasehold
Performance |
| Timeline |
| Krung Thai Bank |
| KTBST Mixed Leasehold |
Krung Thai and KTBST Mixed Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Krung Thai and KTBST Mixed
The main advantage of trading using opposite Krung Thai and KTBST Mixed positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Krung Thai position performs unexpectedly, KTBST Mixed 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 KTBST Mixed will offset losses from the drop in KTBST Mixed's long position.| Krung Thai vs. Supalai Public | Krung Thai vs. Thai Oil Public | Krung Thai vs. The Erawan Group | Krung Thai vs. Ditto Public |
| KTBST Mixed vs. Ticon Freehold and | KTBST Mixed vs. CPN Retail Growth | KTBST Mixed vs. Golden Ventures Leasehold | KTBST Mixed vs. Impact Growth REIT |
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 AI Portfolio Architect module to use AI to generate optimal portfolios and find profitable investment opportunities.
Other Complementary Tools
| Price Exposure Probability Analyze equity upside and downside potential for a given time horizon across multiple markets | |
| Pair Correlation Compare performance and examine fundamental relationship between any two equity instruments | |
| Pattern Recognition Use different Pattern Recognition models to time the market across multiple global exchanges | |
| Portfolio Holdings Check your current holdings and cash postion to detemine if your portfolio needs rebalancing | |
| Cryptocurrency Center Build and monitor diversified portfolio of extremely risky digital assets and cryptocurrency |