Correlation Between Krung Thai and Supalai Public
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By analyzing existing cross correlation between Krung Thai Bank and Supalai Public, you can compare the effects of market volatilities on Krung Thai 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 Krung Thai with a short position of Supalai Public. Check out your portfolio center. Please also check ongoing floating volatility patterns of Krung Thai and Supalai Public.
Diversification Opportunities for Krung Thai and Supalai Public
-0.51 | Correlation Coefficient |
Excellent diversification
The 3 months correlation between Krung and Supalai is -0.51. Overlapping area represents the amount of risk that can be diversified away by holding Krung Thai Bank and Supalai Public in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Supalai Public 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 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 Krung Thai i.e., Krung Thai and Supalai Public go up and down completely randomly.
Pair Corralation between Krung Thai and Supalai Public
Assuming the 90 days trading horizon Krung Thai is expected to generate 109.94 times less return on investment than Supalai Public. But when comparing it to its historical volatility, Krung Thai Bank is 44.1 times less risky than Supalai Public. It trades about 0.02 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 2,131 in Supalai Public on January 23, 2025 and sell it today you would lose (431.00) from holding Supalai Public or give up 20.23% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Krung Thai Bank vs. Supalai Public
Performance |
| Timeline |
| Krung Thai Bank |
| Supalai Public |
Krung Thai and Supalai Public Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Krung Thai and Supalai Public
The main advantage of trading using opposite Krung Thai and Supalai Public positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Krung Thai 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.| Krung Thai vs. The Siam Commercial | Krung Thai vs. Thai Union Group | Krung Thai vs. Kasikornbank Public | Krung Thai vs. The Siam Cement |
| Supalai Public vs. Ekachai Medical Care | Supalai Public vs. Asia Medical Agricultural | Supalai Public vs. Ratchthani Leasing Public | Supalai Public vs. Amanah Leasing Public |
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 Idea Optimizer module to use advanced portfolio builder with pre-computed micro ideas to build optimal portfolio .
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