Correlation Between KTBST Mixed and Somboon Advance
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By analyzing existing cross correlation between KTBST Mixed Leasehold and Somboon Advance Technology, you can compare the effects of market volatilities on KTBST Mixed and Somboon Advance 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 KTBST Mixed with a short position of Somboon Advance. Check out your portfolio center. Please also check ongoing floating volatility patterns of KTBST Mixed and Somboon Advance.
Diversification Opportunities for KTBST Mixed and Somboon Advance
0.06 | Correlation Coefficient |
Significant diversification
The 3 months correlation between KTBST and Somboon is 0.06. Overlapping area represents the amount of risk that can be diversified away by holding KTBST Mixed Leasehold and Somboon Advance Technology in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Somboon Advance Tech and KTBST Mixed 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 KTBST Mixed Leasehold are associated (or correlated) with Somboon Advance. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Somboon Advance Tech has no effect on the direction of KTBST Mixed i.e., KTBST Mixed and Somboon Advance go up and down completely randomly.
Pair Corralation between KTBST Mixed and Somboon Advance
Assuming the 90 days trading horizon KTBST Mixed Leasehold is expected to generate 0.85 times more return on investment than Somboon Advance. However, KTBST Mixed Leasehold is 1.17 times less risky than Somboon Advance. It trades about 0.07 of its potential returns per unit of risk. Somboon Advance Technology is currently generating about -0.09 per unit of risk. If you would invest 538.00 in KTBST Mixed Leasehold on September 1, 2024 and sell it today you would earn a total of 112.00 from holding KTBST Mixed Leasehold or generate 20.82% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 99.62% |
| Values | Daily Returns |
KTBST Mixed Leasehold vs. Somboon Advance Technology
Performance |
| Timeline |
| KTBST Mixed Leasehold |
| Somboon Advance Tech |
KTBST Mixed and Somboon Advance Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with KTBST Mixed and Somboon Advance
The main advantage of trading using opposite KTBST Mixed and Somboon Advance positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if KTBST Mixed position performs unexpectedly, Somboon Advance 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 Somboon Advance will offset losses from the drop in Somboon Advance's long position.| KTBST Mixed vs. Ticon Freehold and | KTBST Mixed vs. CPN Retail Growth | KTBST Mixed vs. Golden Ventures Leasehold | KTBST Mixed vs. Impact Growth REIT |
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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 Stocks Directory module to find actively traded stocks across global markets.
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