Correlation Between KTBST Mixed and TISCO Financial
Specify exactly 2 symbols:
By analyzing existing cross correlation between KTBST Mixed Leasehold and TISCO Financial Group, you can compare the effects of market volatilities on KTBST Mixed and TISCO Financial 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 TISCO Financial. Check out your portfolio center. Please also check ongoing floating volatility patterns of KTBST Mixed and TISCO Financial.
Diversification Opportunities for KTBST Mixed and TISCO Financial
0.26 | Correlation Coefficient |
Modest diversification
The 3 months correlation between KTBST and TISCO is 0.26. Overlapping area represents the amount of risk that can be diversified away by holding KTBST Mixed Leasehold and TISCO Financial Group in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on TISCO Financial Group 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 TISCO Financial. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of TISCO Financial Group has no effect on the direction of KTBST Mixed i.e., KTBST Mixed and TISCO Financial go up and down completely randomly.
Pair Corralation between KTBST Mixed and TISCO Financial
Assuming the 90 days trading horizon KTBST Mixed Leasehold is expected to generate 2.42 times more return on investment than TISCO Financial. However, KTBST Mixed is 2.42 times more volatile than TISCO Financial Group. It trades about 0.02 of its potential returns per unit of risk. TISCO Financial Group is currently generating about -0.03 per unit of risk. If you would invest 647.00 in KTBST Mixed Leasehold on August 30, 2024 and sell it today you would earn a total of 3.00 from holding KTBST Mixed Leasehold or generate 0.46% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 97.62% |
| Values | Daily Returns |
KTBST Mixed Leasehold vs. TISCO Financial Group
Performance |
| Timeline |
| KTBST Mixed Leasehold |
| TISCO Financial Group |
KTBST Mixed and TISCO Financial Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with KTBST Mixed and TISCO Financial
The main advantage of trading using opposite KTBST Mixed and TISCO Financial positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if KTBST Mixed position performs unexpectedly, TISCO Financial 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 TISCO Financial will offset losses from the drop in TISCO Financial'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 |
| TISCO Financial vs. Kasikornbank Public | TISCO Financial vs. Kiatnakin Phatra Bank | TISCO Financial vs. SCB X Public | TISCO Financial vs. Bangkok Bank 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 Stocks Directory module to find actively traded stocks across global markets.
Other Complementary Tools
| Stock Tickers Use high-impact, comprehensive, and customizable stock tickers that can be easily integrated to any websites | |
| Idea Optimizer Use advanced portfolio builder with pre-computed micro ideas to build optimal portfolio | |
| Price Transformation Use Price Transformation models to analyze the depth of different equity instruments across global markets | |
| Piotroski F Score Get Piotroski F Score based on the binary analysis strategy of nine different fundamentals | |
| USA ETFs Find actively traded Exchange Traded Funds (ETF) in USA |